BidaskClub Lowers Affiliated Managers Group, Inc. (AMG) to Buy

Affiliated Managers Group, Inc. (NYSE:AMG) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Monday, July 31st.

A number of other equities analysts have also recently weighed in on AMG. Citigroup Inc. restated a “buy” rating on shares of Affiliated Managers Group in a report on Tuesday, May 2nd. Credit Suisse Group restated a “buy” rating and issued a $207.00 price target on shares of Affiliated Managers Group in a report on Sunday, July 9th. Zacks Investment Research cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Deutsche Bank AG decreased their price target on Affiliated Managers Group from $183.00 to $182.00 and set a “hold” rating for the company in a report on Tuesday, April 18th. Finally, ValuEngine cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $195.50.

Shares of Affiliated Managers Group (AMG) traded down 0.11% during midday trading on Monday, hitting $175.23. 414,171 shares of the company’s stock were exchanged. Affiliated Managers Group has a one year low of $130.48 and a one year high of $187.08. The stock’s 50-day moving average price is $174.85 and its 200 day moving average price is $164.17. The firm has a market cap of $9.81 billion, a PE ratio of 19.41 and a beta of 1.65.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, July 31st. The asset manager reported $3.33 EPS for the quarter, beating the Zacks’ consensus estimate of $3.24 by $0.09. The company had revenue of $570.90 million during the quarter, compared to the consensus estimate of $573.73 million. Affiliated Managers Group had a net margin of 22.99% and a return on equity of 17.45%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.07 EPS. Equities research analysts forecast that Affiliated Managers Group will post $14.55 EPS for the current year.

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In other news, Director Patrick T. Ryan sold 8,902 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $152.89, for a total transaction of $1,361,026.78. Following the transaction, the director now directly owns 10,342 shares of the company’s stock, valued at $1,581,188.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sean M. Healey sold 56,928 shares of Affiliated Managers Group stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $161.07, for a total value of $9,169,392.96. Following the transaction, the chief executive officer now directly owns 206,689 shares in the company, valued at $33,291,397.23. The disclosure for this sale can be found here. Insiders sold 69,107 shares of company stock worth $11,065,554 over the last ninety days. 1.40% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Affiliated Managers Group by 3,178.4% in the first quarter. BlackRock Inc. now owns 3,425,390 shares of the asset manager’s stock worth $561,556,000 after buying an additional 3,320,906 shares during the last quarter. Harbour Capital Advisors LLC raised its position in Affiliated Managers Group by 15,766.6% in the second quarter. Harbour Capital Advisors LLC now owns 1,042,596 shares of the asset manager’s stock worth $6,286,000 after buying an additional 1,036,025 shares during the period. EdgePoint Investment Group Inc. raised its position in Affiliated Managers Group by 42.2% in the second quarter. EdgePoint Investment Group Inc. now owns 1,932,316 shares of the asset manager’s stock worth $320,494,000 after buying an additional 573,066 shares during the period. FMR LLC raised its position in Affiliated Managers Group by 33.8% in the second quarter. FMR LLC now owns 1,146,357 shares of the asset manager’s stock worth $190,134,000 after buying an additional 289,885 shares during the period. Finally, Vanguard Group Inc. raised its position in Affiliated Managers Group by 5.1% in the second quarter. Vanguard Group Inc. now owns 5,574,012 shares of the asset manager’s stock worth $924,505,000 after buying an additional 270,929 shares during the period. 94.86% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Affiliated Managers Group (NYSE:AMG)

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