Affiliated Managers Group (NYSE:AMG) Price Target Raised to $202.00

Affiliated Managers Group (NYSE:AMG) had its price target hoisted by Deutsche Bank Aktiengesellschaft from $188.00 to $202.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a buy rating on the asset manager’s stock.

Other equities research analysts also recently issued reports about the stock. TD Cowen increased their price objective on shares of Affiliated Managers Group from $198.00 to $201.00 and gave the company a buy rating in a research report on Monday, July 8th. Barrington Research increased their target price on Affiliated Managers Group from $190.00 to $210.00 and gave the company an outperform rating in a report on Monday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $199.20.

Affiliated Managers Group Trading Down 3.6 %

Shares of NYSE AMG opened at $178.92 on Tuesday. Affiliated Managers Group has a 12-month low of $120.22 and a 12-month high of $189.81. The stock has a market cap of $5.70 billion, a P/E ratio of 9.86, a PEG ratio of 0.64 and a beta of 1.22. The business’s fifty day simple moving average is $161.70 and its 200-day simple moving average is $159.52.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, July 29th. The asset manager reported $4.67 earnings per share (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 business had revenue of $500.30 million during the quarter, compared to analysts’ expectations of $518.03 million. During the same quarter last year, the business posted $4.45 EPS. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, equities analysts forecast that Affiliated Managers Group will post 21.83 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

Institutional Investors Weigh In On Affiliated Managers Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lindbrook Capital LLC grew its holdings in shares of 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 purchasing an additional 72 shares during the last quarter. Denali Advisors LLC grew its stake in Affiliated Managers Group by 429.2% during the 1st quarter. Denali Advisors LLC now owns 254 shares of the asset manager’s stock worth $43,000 after buying an additional 206 shares during the last quarter. GAMMA Investing LLC acquired a new position in Affiliated Managers Group during the fourth quarter worth approximately $62,000. Quadrant Capital Group LLC boosted its holdings in shares of Affiliated Managers Group by 45.6% in the fourth quarter. Quadrant Capital Group LLC now owns 591 shares of the asset manager’s stock valued at $89,000 after acquiring an additional 185 shares during the period. Finally, Blue Trust Inc. grew its position in shares of Affiliated Managers Group by 17.1% during the fourth quarter. Blue Trust Inc. now owns 617 shares of the asset manager’s stock worth $93,000 after acquiring an additional 90 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

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.