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

Affiliated Managers Group (NYSE:AMG) was downgraded by investment analysts at TD Cowen from a “buy” rating to a “hold” rating in a report issued on Tuesday, Marketbeat reports. They presently have a $177.00 price target on the asset manager’s stock, down from their previous price target of $226.00. TD Cowen’s target price would indicate a potential downside of 4.94% from the stock’s current price.

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

Affiliated Managers Group Price Performance

Shares of AMG stock opened at $186.20 on Tuesday. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 0.62 and a beta of 1.18. The company’s fifty day moving average price is $180.73 and its 200-day moving average price is $168.93. Affiliated Managers Group has a one year low of $129.57 and a one year high of $199.52.

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

Insider Buying and Selling

In other Affiliated Managers Group news, CEO Jay C. Horgen sold 9,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 377,276 shares of the company’s stock, valued at $64,883,926.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, COO Thomas M. Wojcik sold 4,786 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $172.71, for a total transaction of $826,590.06. Following the transaction, the chief operating officer now owns 84,392 shares in the company, valued at approximately $14,575,342.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a 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 dated 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 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 disclosure for this sale can be found here. In the last three months, insiders sold 22,408 shares of company stock valued at $3,865,068. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Affiliated Managers Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ensign Peak Advisors Inc lifted its holdings in Affiliated Managers Group by 0.6% during the second quarter. Ensign Peak Advisors Inc now owns 9,902 shares of the asset manager’s stock worth $1,547,000 after buying an additional 60 shares during the period. Blair William & Co. IL raised its position in shares of Affiliated Managers Group by 0.5% in the 1st 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 lifted its stake in shares of Affiliated Managers Group by 21.4% during the 3rd quarter. Covestor Ltd now owns 471 shares of the asset manager’s stock worth $84,000 after purchasing an additional 83 shares during the last quarter. OneDigital Investment Advisors LLC boosted its position in Affiliated Managers Group by 1.9% during the third quarter. OneDigital Investment Advisors LLC now owns 4,712 shares of the asset manager’s stock valued at $838,000 after purchasing an additional 90 shares in the last quarter. Finally, Kendall Capital Management grew its stake in Affiliated Managers Group by 2.5% in the second quarter. Kendall Capital Management now owns 4,135 shares of the asset manager’s stock valued at $646,000 after purchasing an additional 100 shares during the last quarter. 95.30% of the stock is currently owned by 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.