Affiliated Managers Group (NYSE:AMG) Cut to Hold at TD Cowen

TD Cowen downgraded shares of Affiliated Managers Group (NYSE:AMG) from a buy rating to a hold rating in a research note released on Tuesday, MarketBeat reports. The brokerage currently has $177.00 target price on the asset manager’s stock, down from their prior target price of $226.00.

A number of other research firms also recently commented on AMG. Barrington Research reiterated an “outperform” rating and set a $210.00 price objective on shares of Affiliated Managers Group in a research note on Wednesday, October 30th. StockNews.com cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Bank of America upped their price objective on Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Affiliated Managers Group from $202.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $195.50.

Affiliated Managers Group Price Performance

Shares of AMG opened at $183.17 on Tuesday. Affiliated Managers Group has a 12 month low of $129.57 and a 12 month high of $199.52. The stock’s 50-day moving average is $180.92 and its two-hundred day moving average is $169.03. The stock has a market cap of $5.46 billion, a PE ratio of 11.95, a P/E/G ratio of 0.57 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 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 firm had revenue of $525.20 million during the quarter, compared to analyst estimates of $521.87 million. During the same quarter in the prior year, the firm earned $4.08 EPS. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, research analysts anticipate that Affiliated Managers Group will post 22.02 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.26%.

Insider Transactions at Affiliated Managers Group

In related news, CEO Jay C. Horgen sold 9,000 shares of the firm’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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 completion of the transaction, the insider now directly owns 128,457 shares in the company, valued at $22,208,930.73. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction, the chief executive officer now owns 377,276 shares in the company, valued at $64,883,926.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,408 shares of company stock worth $3,865,068. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Affiliated Managers Group

Hedge funds have recently modified their holdings of the company. Ensign Peak Advisors Inc raised its holdings in shares of 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 increased its position 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 acquiring an additional 69 shares in the last quarter. Covestor Ltd raised 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 acquiring an additional 83 shares during the period. OneDigital Investment Advisors LLC lifted its position in shares of Affiliated Managers Group by 1.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,712 shares of the asset manager’s stock valued at $838,000 after acquiring an additional 90 shares in the last quarter. Finally, Kendall Capital Management boosted its stake in Affiliated Managers Group by 2.5% in the 2nd quarter. Kendall Capital Management now owns 4,135 shares of the asset manager’s stock worth $646,000 after purchasing an additional 100 shares during the period. 95.30% of the stock is currently 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.