Affiliated Managers Group (NYSE:AMG) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Affiliated Managers Group (NYSE:AMGGet Rating) from a buy rating to a hold rating in a report issued on Friday morning.

A number of other equities analysts have also issued reports on the stock. Citigroup dropped their target price on shares of Affiliated Managers Group from $241.00 to $222.00 in a research report on Tuesday, May 3rd. Barrington Research dropped their target price on shares of Affiliated Managers Group from $190.00 to $160.00 in a research report on Monday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Affiliated Managers Group from $162.00 to $152.00 in a research report on Thursday, May 19th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Buy and a consensus price target of $202.00.

NYSE:AMG opened at $134.28 on Friday. Affiliated Managers Group has a 12 month low of $116.12 and a 12 month high of $191.62. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 10.20, a P/E/G ratio of 0.69 and a beta of 1.33. The company’s 50 day moving average is $133.00 and its 200-day moving average is $146.88.

Affiliated Managers Group (NYSE:AMGGet Rating) last released its quarterly earnings results on Monday, May 2nd. The asset manager reported $4.65 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.33. Affiliated Managers Group had a net margin of 22.84% and a return on equity of 22.99%. The company had revenue of $607.30 million for the quarter, compared to analyst estimates of $662.80 million. During the same quarter last year, the firm posted $4.28 earnings per share. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, research analysts expect that Affiliated Managers Group will post 18.81 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 26th. Shareholders of record on Thursday, May 12th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, May 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. Affiliated Managers Group’s dividend payout ratio is currently 0.30%.

Several large investors have recently modified their holdings of AMG. Valeo Financial Advisors LLC acquired a new stake in shares of Affiliated Managers Group in the 1st quarter valued at $30,000. Rockefeller Capital Management L.P. raised its holdings in shares of Affiliated Managers Group by 70.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 206 shares of the asset manager’s stock valued at $33,000 after buying an additional 85 shares during the last quarter. Lazard Asset Management LLC raised its holdings in Affiliated Managers Group by 76.3% during the 1st quarter. Lazard Asset Management LLC now owns 275 shares of the asset manager’s stock worth $38,000 after purchasing an additional 119 shares during the last quarter. Whittier Trust Co. raised its holdings in Affiliated Managers Group by 47.1% during the 4th quarter. Whittier Trust Co. now owns 325 shares of the asset manager’s stock worth $53,000 after purchasing an additional 104 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Affiliated Managers Group by 121.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 385 shares of the asset manager’s stock worth $63,000 after purchasing an additional 211 shares during the last quarter. Institutional investors own 96.35% of the company’s stock.

Affiliated Managers Group Company Profile (Get Rating)

Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

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