Affiliated Managers Group (NYSE:AMG) Price Target Cut to $200.00 by Analysts at Barrington Research

Affiliated Managers Group (NYSE:AMG) had its target price decreased by Barrington Research from $210.00 to $200.00 in a research note published on Tuesday morning, Benzinga reports. Barrington Research currently has an outperform rating on the asset manager’s stock.

Several other brokerages also recently commented on AMG. Bank of America upped their price objective on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. StockNews.com lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft decreased their target price on Affiliated Managers Group from $219.00 to $204.00 and set a “buy” rating for the company in a report on Tuesday. Finally, TD Cowen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $226.00 to $177.00 in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $195.50.

Affiliated Managers Group Trading Up 0.3 %

NYSE AMG opened at $177.65 on Tuesday. The firm has a market cap of $5.30 billion, a PE ratio of 10.43, a price-to-earnings-growth ratio of 0.62 and a beta of 1.18. Affiliated Managers Group has a 1-year low of $129.57 and a 1-year high of $199.52. The stock has a 50-day moving average of $180.43 and a 200-day moving average of $168.81.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 earnings per share for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. The company had revenue of $525.20 million for the quarter, compared to analysts’ expectations of $521.87 million. During the same period last year, the company posted $4.08 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, equities research analysts forecast that Affiliated Managers Group will post 22.02 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date is Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio is currently 0.23%.

Insider Activity

In related news, CEO Jay C. Horgen sold 9,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $171.98, for a total value of $1,547,820.00. Following the completion of the transaction, the chief executive officer now directly owns 377,276 shares in the company, valued at $64,883,926.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Affiliated Managers Group news, CEO Jay C. Horgen sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $171.98, for a total transaction of $1,547,820.00. Following the completion of the transaction, the chief executive officer now owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rizwan M. Jamal sold 8,622 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $172.89, for a total value of $1,490,657.58. Following the completion of the sale, the insider now directly owns 128,457 shares in the company, valued at approximately $22,208,930.73. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,408 shares of company stock worth $3,865,068. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Affiliated Managers Group

A number of institutional investors have recently modified their holdings of the stock. Ensign Peak Advisors Inc boosted its stake in Affiliated Managers Group by 0.6% in the 2nd quarter. Ensign Peak Advisors Inc now owns 9,902 shares of the asset manager’s stock worth $1,547,000 after purchasing an additional 60 shares in the last quarter. Blair William & Co. IL lifted its stake in shares of Affiliated Managers Group by 0.5% in the first quarter. Blair William & Co. IL now owns 12,924 shares of the asset manager’s stock worth $2,164,000 after buying an additional 69 shares in the last quarter. Covestor Ltd grew its holdings in shares of Affiliated Managers Group by 21.4% during the third quarter. Covestor Ltd now owns 471 shares of the asset manager’s stock valued at $84,000 after buying an additional 83 shares during the last quarter. Kendall Capital Management increased its position in shares of Affiliated Managers Group by 2.5% during the second quarter. Kendall Capital Management now owns 4,135 shares of the asset manager’s stock valued at $646,000 after acquiring an additional 100 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in shares of Affiliated Managers Group by 4.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,261 shares of the asset manager’s stock valued at $546,000 after acquiring an additional 150 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

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.