Affiliated Managers Group, Inc. (NYSE:AMG) – Research analysts at Jefferies Group cut their Q3 2017 EPS estimates for Affiliated Managers Group in a note issued to investors on Wednesday, Zacks Investment Research reports. Jefferies Group analyst D. Fannon now forecasts that the asset manager will post earnings per share of $3.26 for the quarter, down from their previous forecast of $3.30. Jefferies Group currently has a “Buy” rating and a $197.00 price target on the stock. Jefferies Group also issued estimates for Affiliated Managers Group’s FY2018 earnings at $16.16 EPS.
Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research note on Tuesday. Deutsche Bank AG lowered their price objective on shares of Affiliated Managers Group from $183.00 to $182.00 and set a “hold” rating on the stock in a research note on Tuesday. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $185.00 price objective on shares of Affiliated Managers Group in a research note on Tuesday, April 4th. TheStreet raised shares of Affiliated Managers Group from a “c+” rating to a “b” rating in a research note on Monday, March 20th. Finally, Citigroup Inc decreased their price target on shares of Affiliated Managers Group from $185.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, January 25th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $171.22.
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Affiliated Managers Group (NYSE:AMG) traded down 0.48% during mid-day trading on Friday, reaching $163.79. 90,168 shares of the company traded hands. The stock’s 50 day moving average price is $163.00 and its 200 day moving average price is $152.63. The firm has a market capitalization of $9.29 billion, a price-to-earnings ratio of 19.12 and a beta of 1.59. Affiliated Managers Group has a 52 week low of $130.48 and a 52 week high of $179.85.
Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, January 30th. The asset manager reported $3.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.70 by $0.10. The firm earned $550.30 million during the quarter, compared to analysts’ expectations of $563.42 million. Affiliated Managers Group had a net margin of 21.48% and a return on equity of 17.65%. The firm’s revenue was down 6.7% compared to the same quarter last year. During the same quarter last year, the company posted $3.61 earnings per share.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company acquired a new position in Affiliated Managers Group during the third quarter valued at approximately $94,157,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Affiliated Managers Group during the fourth quarter worth about $77,466,000. Institutional Capital LLC purchased a new stake in Affiliated Managers Group during the fourth quarter worth about $73,253,000. FMR LLC raised its stake in Affiliated Managers Group by 108.8% in the fourth quarter. FMR LLC now owns 753,403 shares of the asset manager’s stock worth $109,469,000 after buying an additional 392,642 shares in the last quarter. Finally, Norges Bank purchased a new stake in Affiliated Managers Group during the fourth quarter worth about $51,853,000. Hedge funds and other institutional investors own 98.85% of the company’s stock.
About Affiliated Managers Group
Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.
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