Affiliated Managers Group (NYSE:AMG) Stock Rating Lowered by Wall Street Zen

Affiliated Managers Group (NYSE:AMG) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

AMG has been the topic of several other research reports. The Goldman Sachs Group increased their target price on shares of Affiliated Managers Group from $300.00 to $341.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, January 21st. Zacks Research lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Deutsche Bank Aktiengesellschaft set a $408.00 price objective on shares of Affiliated Managers Group and gave the stock a “buy” rating in a research note on Friday, February 13th. Finally, TD Cowen restated a “buy” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 14th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Affiliated Managers Group presently has an average rating of “Moderate Buy” and a consensus price target of $350.14.

Affiliated Managers Group Stock Performance

NYSE AMG opened at $265.67 on Friday. The business’s 50 day moving average price is $296.04 and its 200-day moving average price is $277.33. Affiliated Managers Group has a fifty-two week low of $139.22 and a fifty-two week high of $334.78. The company has a market cap of $7.09 billion, a P/E ratio of 11.51, a P/E/G ratio of 0.44 and a beta of 1.20. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.34.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Thursday, February 12th. The asset manager reported $9.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.75 by $0.73. The company had revenue of $556.60 million during the quarter, compared to the consensus estimate of $578.54 million. Affiliated Managers Group had a return on equity of 18.45% and a net margin of 34.55%.Affiliated Managers Group’s revenue was up 6.2% on a year-over-year basis. During the same period last year, the company earned $6.53 earnings per share. Sell-side analysts predict that Affiliated Managers Group will post 22.86 earnings per share for the current year.

Insider Activity at Affiliated Managers Group

In related news, General Counsel Kavita Padiyar sold 2,200 shares of Affiliated Managers Group stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $278.24, for a total transaction of $612,128.00. Following the transaction, the general counsel directly owned 42,672 shares of the company’s stock, valued at $11,873,057.28. This trade represents a 4.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Thomas M. Wojcik sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $286.30, for a total transaction of $2,290,400.00. Following the completion of the transaction, the chief operating officer directly owned 159,465 shares of the company’s stock, valued at $45,654,829.50. This trade represents a 4.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Carrera Capital Advisors bought a new stake in shares of Affiliated Managers Group in the 3rd quarter valued at about $4,295,000. Allianz Asset Management GmbH raised its stake in shares of Affiliated Managers Group by 14.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 393,161 shares of the asset manager’s stock worth $93,741,000 after acquiring an additional 50,219 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Affiliated Managers Group by 103.0% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 20,100 shares of the asset manager’s stock worth $4,792,000 after acquiring an additional 10,200 shares in the last quarter. Oliver Luxxe Assets LLC purchased a new stake in Affiliated Managers Group during the third quarter valued at approximately $2,673,000. Finally, Paragon Associates & Paragon Associates II Joint Venture purchased a new stake in Affiliated Managers Group during the third quarter valued at approximately $5,357,000. 95.30% of the stock is owned by institutional investors.

About Affiliated Managers Group

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.