TD Cowen Cuts Affiliated Managers Group (NYSE:AMG) Price Target to $168.00

Affiliated Managers Group (NYSE:AMG) had its price target decreased by TD Cowen from $187.00 to $168.00 in a research note released on Wednesday,Benzinga reports. TD Cowen currently has a hold rating on the asset manager’s stock.

Other research analysts have also recently issued reports about the stock. The Goldman Sachs Group cut shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and dropped their target price for the company from $193.00 to $191.00 in a research note on Monday, January 6th. Bank of America dropped their price objective on Affiliated Managers Group from $211.00 to $195.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. StockNews.com raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, Barrington Research dropped their price target on Affiliated Managers Group from $215.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.40.

Affiliated Managers Group Price Performance

Affiliated Managers Group stock opened at $158.04 on Wednesday. Affiliated Managers Group has a 52 week low of $139.22 and a 52 week high of $199.52. The company’s 50 day moving average price is $165.44 and its two-hundred day moving average price is $178.80. The stock has a market cap of $4.62 billion, a P/E ratio of 10.47, a P/E/G ratio of 0.57 and a beta of 1.09. 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 issued its quarterly earnings results on Thursday, February 6th. The asset manager reported $6.53 EPS for the quarter, beating analysts’ consensus estimates of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. On average, equities analysts predict that Affiliated Managers Group will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

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

Hedge Funds Weigh In On Affiliated Managers Group

Hedge funds have recently made changes to their positions in the stock. World Investment Advisors LLC bought a new position in Affiliated Managers Group in the 3rd quarter worth about $2,592,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Affiliated Managers Group by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 331,106 shares of the asset manager’s stock worth $61,228,000 after buying an additional 2,264 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new position in shares of Affiliated Managers Group in the third quarter valued at approximately $543,000. Empirical Asset Management LLC grew its stake in Affiliated Managers Group by 10,522.8% during the fourth quarter. Empirical Asset Management LLC now owns 190,360 shares of the asset manager’s stock valued at $347,000 after acquiring an additional 188,568 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Affiliated Managers Group by 4.8% during the 4th quarter. Victory Capital Management Inc. now owns 118,627 shares of the asset manager’s stock worth $21,937,000 after acquiring an additional 5,436 shares during the period. 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.