Bank of America Cuts Affiliated Managers Group (NYSE:AMG) Price Target to $195.00

Affiliated Managers Group (NYSE:AMG) had its price target trimmed by Bank of America from $211.00 to $195.00 in a research report report published on Thursday,Benzinga reports. The firm currently has a neutral rating on the asset manager’s stock.

Several other brokerages also recently issued reports on AMG. Barrington Research upped their price target on Affiliated Managers Group from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. StockNews.com upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Finally, The Goldman Sachs Group cut shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and cut their price target for the stock from $193.00 to $191.00 in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $197.20.

Affiliated Managers Group Stock Down 6.0 %

Affiliated Managers Group stock opened at $148.52 on Thursday. The company has a market capitalization of $4.35 billion, a PE ratio of 9.84, a PEG ratio of 0.57 and a beta of 1.18. Affiliated Managers Group has a 12-month low of $146.61 and a 12-month high of $199.52. The firm’s fifty day moving average is $170.28 and its 200 day moving average is $180.06. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.61.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Thursday, February 6th. The asset manager reported $6.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. As a group, sell-side analysts predict that Affiliated Managers Group will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Tuesday, February 18th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.26%.

Hedge Funds Weigh In On Affiliated Managers Group

Large investors have recently made changes to their positions in the stock. Townsquare Capital LLC purchased a new stake in Affiliated Managers Group in the 3rd quarter worth approximately $218,000. Glenmede Trust Co. NA increased its holdings in shares of Affiliated Managers Group by 42.1% in the third quarter. Glenmede Trust Co. NA now owns 2,149 shares of the asset manager’s stock worth $382,000 after purchasing an additional 637 shares during the period. Captrust Financial Advisors raised its position in shares of Affiliated Managers Group by 91.4% in the third quarter. Captrust Financial Advisors now owns 3,713 shares of the asset manager’s stock worth $660,000 after buying an additional 1,773 shares in the last quarter. Verition Fund Management LLC boosted its stake in Affiliated Managers Group by 240.1% during the third quarter. Verition Fund Management LLC now owns 6,289 shares of the asset manager’s stock valued at $1,118,000 after buying an additional 4,440 shares during the period. Finally, Edgestream Partners L.P. purchased a new position in Affiliated Managers Group during the third quarter worth about $824,000. 95.30% of the stock is owned by institutional investors.

Affiliated Managers Group Company Profile

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.