Affiliated Managers Group (NYSE:AMG) Stock Rating Lowered by The Goldman Sachs Group

Affiliated Managers Group (NYSE:AMG) was downgraded by equities research analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday,Briefing.com Automated Import reports. They presently have a $191.00 price target on the asset manager’s stock, down from their previous price target of $193.00. The Goldman Sachs Group’s price target suggests a potential upside of 1.30% from the company’s previous close.

A number of other analysts have also issued reports on the company. TD Cowen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating and lowered their price target for the stock from $226.00 to $177.00 in a research note on Tuesday, November 5th. Barrington Research lowered their target price on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Affiliated Managers Group has an average rating of “Hold” and a consensus target price of $195.40.

Affiliated Managers Group Price Performance

Shares of AMG stock opened at $188.55 on Monday. The stock has a 50 day simple moving average of $186.58 and a 200-day simple moving average of $177.34. Affiliated Managers Group has a 1-year low of $145.36 and a 1-year high of $199.52. The company has a market cap of $5.70 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 0.69 and a beta of 1.15.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share for the quarter, missing the consensus estimate of $4.84 by ($0.02). Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The company had revenue of $525.20 million for the quarter, compared to analyst estimates of $521.87 million. During the same quarter last year, the company earned $4.08 EPS. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. Analysts anticipate that Affiliated Managers Group will post 20.91 earnings per share for the current fiscal year.

Institutional Trading of Affiliated Managers Group

Large investors have recently made changes to their positions in the company. Altshuler Shaham Ltd acquired a new stake in Affiliated Managers Group during the second quarter worth approximately $28,000. Ashton Thomas Securities LLC purchased a new stake in Affiliated Managers Group in the third quarter valued at $30,000. UMB Bank n.a. boosted its stake in Affiliated Managers Group by 481.3% in the third quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 154 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Affiliated Managers Group during the third quarter worth about $46,000. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Affiliated Managers Group during the second quarter worth about $47,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

About Affiliated Managers Group

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.