Affiliated Managers Group (NYSE:AMG) Price Target Lowered to $168.00 at TD Cowen

Affiliated Managers Group (NYSE:AMG) had its target price cut by TD Cowen from $187.00 to $168.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a hold rating on the asset manager’s stock.

A number of other research analysts have also recently weighed in on the stock. Bank of America dropped their target price on shares of Affiliated Managers Group from $211.00 to $195.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Barrington Research dropped their price objective on Affiliated Managers Group from $215.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday. The Goldman Sachs Group downgraded Affiliated Managers Group from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $193.00 to $191.00 in a research report on Monday, January 6th. Finally, StockNews.com upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $192.40.

Affiliated Managers Group Stock Performance

Shares of AMG traded down $6.21 on Wednesday, reaching $153.63. 134,596 shares of the company’s stock traded hands, compared to its average volume of 235,009. The stock’s 50 day simple moving average is $166.52 and its two-hundred day simple moving average is $179.09. The stock has a market cap of $4.49 billion, a PE ratio of 10.17, a PEG ratio of 0.57 and a beta of 1.09. Affiliated Managers Group has a 52-week low of $139.22 and a 52-week high of $199.52. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.61.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Thursday, February 6th. The asset manager reported $6.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. On average, analysts forecast that Affiliated Managers Group will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.01 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. Affiliated Managers Group’s dividend payout ratio is currently 0.26%.

Institutional Trading of Affiliated Managers Group

A number of institutional investors have recently added to or reduced their stakes in AMG. Jones Financial Companies Lllp grew its holdings in Affiliated Managers Group by 79.5% during the 4th quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager’s stock valued at $26,000 after buying an additional 62 shares in the last quarter. Versant Capital Management Inc grew its stake in Affiliated Managers Group by 70.8% during the first quarter. Versant Capital Management Inc now owns 181 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 75 shares in the last quarter. Private Trust Co. NA lifted its stake in Affiliated Managers Group by 131.9% in the 4th quarter. Private Trust Co. NA now owns 218 shares of the asset manager’s stock worth $40,000 after purchasing an additional 124 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Affiliated Managers Group in the 3rd quarter valued at $46,000. Finally, UMB Bank n.a. increased its holdings in shares of Affiliated Managers Group by 37.1% in the fourth quarter. UMB Bank n.a. now owns 255 shares of the asset manager’s stock worth $47,000 after purchasing an additional 69 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

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.