Affiliated Managers Group (NYSE:AMG) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Affiliated Managers Group (NYSE:AMG) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

Other analysts have also issued reports about the company. Barrington Research raised their price objective on Affiliated Managers Group from $190.00 to $210.00 and gave the company an outperform rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their price objective on Affiliated Managers Group from $188.00 to $202.00 and gave the company a buy rating in a report on Tuesday. Bank of America raised their target price on Affiliated Managers Group from $200.00 to $201.00 and gave the company a neutral rating in a research report on Tuesday. Finally, TD Cowen lifted their price target on Affiliated Managers Group from $201.00 to $226.00 and gave the stock a buy rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $199.20.

Affiliated Managers Group Stock Down 5.3 %

Affiliated Managers Group stock opened at $169.47 on Tuesday. The firm has a market cap of $5.40 billion, a price-to-earnings ratio of 9.40, a price-to-earnings-growth ratio of 0.64 and a beta of 1.22. Affiliated Managers Group has a 52 week low of $120.22 and a 52 week high of $189.81. The business’s 50-day moving average price is $162.32 and its 200 day moving average price is $159.81.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, July 29th. The asset manager reported $4.67 EPS for the quarter, beating the consensus estimate of $4.60 by $0.07. Affiliated Managers Group had a return on equity of 16.50% and a net margin of 31.51%. The company had revenue of $500.30 million for the quarter, compared to analyst estimates of $518.03 million. During the same period last year, the company earned $4.45 earnings per share. Affiliated Managers Group’s quarterly revenue was down 2.4% compared to the same quarter last year. Equities analysts expect that Affiliated Managers Group will post 21.82 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date is Thursday, August 8th. Affiliated Managers Group’s dividend payout ratio is presently 0.22%.

Institutional Trading of Affiliated Managers Group

Institutional investors have recently made changes to their positions in the company. Blair William & Co. IL boosted its stake in Affiliated Managers Group by 0.5% during 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 during the last quarter. Forte Capital LLC ADV boosted its stake in Affiliated Managers Group by 4.5% during the fourth quarter. Forte Capital LLC ADV now owns 1,641 shares of the asset manager’s stock worth $248,000 after buying an additional 70 shares during the last quarter. Lindbrook Capital LLC boosted its stake in Affiliated Managers Group by 80.0% during the fourth quarter. Lindbrook Capital LLC now owns 162 shares of the asset manager’s stock worth $25,000 after buying an additional 72 shares during the last quarter. M&T Bank Corp lifted its stake in shares of Affiliated Managers Group by 3.5% in the 4th quarter. M&T Bank Corp now owns 2,184 shares of the asset manager’s stock valued at $331,000 after purchasing an additional 74 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake 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 valued at $93,000 after purchasing an additional 90 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

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.