Affiliated Managers Group (NYSE:AMG) Price Target Cut to $204.00 by Analysts at Deutsche Bank Aktiengesellschaft

Affiliated Managers Group (NYSE:AMG) had its target price trimmed by Deutsche Bank Aktiengesellschaft from $219.00 to $204.00 in a report released on Tuesday,Benzinga reports. The firm currently has a buy rating on the asset manager’s stock.

A number of other equities analysts have also recently weighed in on the stock. Bank of America increased their price objective on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. TD Cowen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their target price for the company from $226.00 to $177.00 in a research report on Tuesday. StockNews.com lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $210.00 target price on shares of Affiliated Managers Group in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $195.50.

Affiliated Managers Group Stock Down 1.6 %

AMG stock opened at $183.17 on Tuesday. Affiliated Managers Group has a 52-week low of $129.57 and a 52-week high of $199.52. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of 11.95, a price-to-earnings-growth ratio of 0.57 and a beta of 1.18. The business has a fifty day moving average of $180.92 and a two-hundred day moving average of $169.03.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The business had revenue of $525.20 million for the quarter, compared to analyst estimates of $521.87 million. During the same period in the previous year, the business posted $4.08 earnings per share. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Affiliated Managers Group will post 22.02 EPS for the current year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend is Thursday, November 14th. Affiliated Managers Group’s payout ratio is presently 0.26%.

Insider Buying and Selling

In other Affiliated Managers Group news, insider Rizwan M. Jamal sold 8,622 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $172.89, for a total value of $1,490,657.58. Following the sale, the insider now directly owns 128,457 shares of the company’s stock, valued at approximately $22,208,930.73. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Rizwan M. Jamal sold 8,622 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $172.89, for a total transaction of $1,490,657.58. Following the completion of the transaction, the insider now directly owns 128,457 shares of the company’s stock, valued at approximately $22,208,930.73. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jay C. Horgen sold 9,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $171.98, for a total value of $1,547,820.00. Following the sale, the chief executive officer now owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,408 shares of company stock worth $3,865,068. Company insiders own 1.90% of the company’s stock.

Institutional Trading of Affiliated Managers Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Altshuler Shaham Ltd purchased a new position in Affiliated Managers Group during the 2nd quarter worth approximately $28,000. Ashton Thomas Securities LLC purchased a new stake in Affiliated Managers Group in the third quarter valued at approximately $30,000. UMB Bank n.a. boosted its holdings in shares of Affiliated Managers Group by 481.3% in the third quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 154 shares during the period. Daiwa Securities Group Inc. purchased a new position in shares of Affiliated Managers Group during the second quarter worth approximately $47,000. Finally, Goodman Advisory Group LLC acquired a new position in shares of Affiliated Managers Group in the 2nd quarter valued at $50,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

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.