Affiliated Managers Group (AMG) Rating Lowered to Neutral at Credit Suisse Group

Affiliated Managers Group (NYSE:AMG) was downgraded by Credit Suisse Group from an “outperform” rating to a “neutral” rating in a report released on Wednesday. They currently have a $220.00 price target on the asset manager’s stock. Credit Suisse Group’s target price points to a potential upside of 10.81% from the company’s current price.

Several other equities research analysts have also commented on the stock. Zacks Investment Research upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $230.00 price objective for the company in a research note on Tuesday. Jefferies Group reiterated a “buy” rating and issued a $226.00 price objective on shares of Affiliated Managers Group in a research note on Thursday, October 12th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $229.00 price objective on shares of Affiliated Managers Group in a research note on Thursday, October 12th. Finally, Barrington Research reiterated an “outperform” rating and issued a $215.00 price objective on shares of Affiliated Managers Group in a research note on Wednesday, October 4th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Affiliated Managers Group presently has an average rating of “Buy” and an average price target of $211.71.

Affiliated Managers Group (NYSE AMG) traded down $3.58 on Wednesday, hitting $198.54. 363,000 shares of the company were exchanged, compared to its average volume of 305,000. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.24. Affiliated Managers Group has a 12 month low of $139.52 and a 12 month high of $207.67. The firm has a market cap of $11,040.00, a price-to-earnings ratio of 21.49, a PEG ratio of 0.83 and a beta of 1.71.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, October 30th. The asset manager reported $3.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.36 by $0.05. Affiliated Managers Group had a net margin of 23.29% and a return on equity of 17.63%. The company had revenue of $585.70 million for the quarter, compared to analyst estimates of $586.55 million. During the same quarter in the prior year, the business posted $3.02 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. sell-side analysts predict that Affiliated Managers Group will post 14.47 earnings per share for the current fiscal year.

In other news, Director Dwight D. Churchill sold 2,080 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $184.28, for a total transaction of $383,302.40. Following the completion of the transaction, the director now directly owns 6,104 shares of the company’s stock, valued at approximately $1,124,845.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sean M. Healey sold 69,800 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $185.48, for a total transaction of $12,946,504.00. Following the transaction, the chief executive officer now directly owns 194,943 shares of the company’s stock, valued at $36,158,027.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,585 shares of company stock valued at $16,734,012. Company insiders own 1.40% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in AMG. Tributary Capital Management LLC bought a new position in shares of Affiliated Managers Group during the 3rd quarter valued at approximately $100,000. Advisor Group Inc. grew its position in shares of Affiliated Managers Group by 46.2% during the 2nd quarter. Advisor Group Inc. now owns 722 shares of the asset manager’s stock valued at $120,000 after acquiring an additional 228 shares during the period. Bronfman E.L. Rothschild L.P. grew its position in shares of Affiliated Managers Group by 2.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 755 shares of the asset manager’s stock valued at $125,000 after acquiring an additional 16 shares during the period. Pacer Advisors Inc. grew its position in shares of Affiliated Managers Group by 7.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,183 shares of the asset manager’s stock valued at $196,000 after acquiring an additional 87 shares during the period. Finally, Douglas Lane & Associates LLC bought a new position in shares of Affiliated Managers Group during the 3rd quarter valued at approximately $200,000. 95.65% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: “Affiliated Managers Group (AMG) Rating Lowered to Neutral at Credit Suisse Group” was originally published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this piece of content on another publication, it was illegally copied and republished in violation of US and international copyright and trademark law. The legal version of this piece of content can be viewed at https://www.chaffeybreeze.com/2018/01/05/affiliated-managers-group-amg-rating-lowered-to-neutral-at-credit-suisse-group.html.

Affiliated Managers Group Company Profile

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.

Analyst Recommendations for Affiliated Managers Group (NYSE:AMG)

Receive News & Ratings for Affiliated Managers Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Affiliated Managers Group and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply