TD Cowen Boosts Affiliated Managers Group (NYSE:AMG) Price Target to $226.00

Affiliated Managers Group (NYSE:AMG) had its price objective hoisted by TD Cowen from $201.00 to $226.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the asset manager’s stock. TD Cowen’s price objective points to a potential upside of 23.77% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on AMG. Deutsche Bank Aktiengesellschaft increased their price objective on Affiliated Managers Group from $188.00 to $202.00 and gave the stock a “buy” rating in a report on Tuesday. Barrington Research increased their price objective on Affiliated Managers Group from $190.00 to $210.00 and gave the stock an “outperform” rating in a report on Monday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $199.20.

Affiliated Managers Group Price Performance

Shares of NYSE AMG traded down $1.31 during trading on Tuesday, reaching $182.59. 102,185 shares of the stock traded hands, compared to its average volume of 265,015. Affiliated Managers Group has a 52-week low of $120.22 and a 52-week high of $187.29. The company has a 50-day moving average of $160.64 and a 200-day moving average of $159.08. The stock has a market capitalization of $5.82 billion, a P/E ratio of 10.14, a price-to-earnings-growth ratio of 0.62 and a beta of 1.22.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Monday, July 29th. The asset manager reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.60 by $0.07. The company had revenue of $500.30 million for the quarter, compared to analyst estimates of $518.03 million. Affiliated Managers Group had a return on equity of 16.66% and a net margin of 33.74%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $4.45 EPS. Analysts expect that Affiliated Managers Group will post 21.59 earnings per share for the current fiscal year.

Institutional Trading of Affiliated Managers Group

A number of institutional investors and hedge funds have recently modified their holdings of AMG. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Affiliated Managers Group in the 4th quarter worth $260,000. Pacer Advisors Inc. increased its holdings in shares of Affiliated Managers Group by 22.3% in the 4th quarter. Pacer Advisors Inc. now owns 5,082 shares of the asset manager’s stock worth $770,000 after purchasing an additional 928 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Affiliated Managers Group by 17.1% in the 4th quarter. Blue Trust Inc. now owns 617 shares of the asset manager’s stock worth $93,000 after purchasing an additional 90 shares in the last quarter. Integrated Investment Consultants LLC bought a new stake in shares of Affiliated Managers Group in the 4th quarter worth $204,000. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Affiliated Managers Group in the 4th quarter worth $590,000. Institutional investors own 95.30% of the company’s stock.

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.