Affiliated Managers Group (NYSE:AMG) Price Target Cut to $200.00 by Analysts at Barrington Research

Affiliated Managers Group (NYSE:AMG) had its target price reduced by Barrington Research from $210.00 to $200.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the asset manager’s stock. Barrington Research’s price target suggests a potential upside of 7.41% from the company’s current price. Barrington Research also issued estimates for Affiliated Managers Group’s FY2024 earnings at $20.90 EPS.

Other research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft lowered their price objective on Affiliated Managers Group from $219.00 to $204.00 and set a “buy” rating on the stock in a report on Tuesday. TD Cowen lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their price target for the company from $226.00 to $177.00 in a research report on Tuesday. StockNews.com downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, Bank of America boosted their target price on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $195.50.

Affiliated Managers Group Price Performance

Shares of NYSE AMG opened at $186.20 on Tuesday. Affiliated Managers Group has a one year low of $129.57 and a one year high of $199.52. The business’s 50-day moving average price is $180.73 and its two-hundred day moving average price is $168.93. The company has a market capitalization of $5.55 billion, a P/E ratio of 10.93, a price-to-earnings-growth ratio of 0.62 and a beta of 1.18.

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

Insider Buying and Selling

In other news, insider Rizwan M. Jamal sold 8,622 shares of Affiliated Managers Group stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $172.89, for a total transaction of $1,490,657.58. Following the sale, the insider now owns 128,457 shares of the company’s stock, valued at approximately $22,208,930.73. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Rizwan M. Jamal sold 8,622 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $172.89, for a total value of $1,490,657.58. Following the sale, the insider now directly owns 128,457 shares in the company, valued at approximately $22,208,930.73. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Thomas M. Wojcik sold 4,786 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $172.71, for a total value of $826,590.06. Following the transaction, the chief operating officer now owns 84,392 shares of the company’s stock, valued at $14,575,342.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,408 shares of company stock valued at $3,865,068 over the last three months. 1.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Affiliated Managers Group

Institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC increased its holdings in shares of Affiliated Managers Group by 87.1% during the first quarter. Lazard Asset Management LLC now owns 18,536 shares of the asset manager’s stock worth $3,103,000 after buying an additional 8,628 shares in the last quarter. Diversified Trust Co acquired a new stake in Affiliated Managers Group during the 2nd quarter valued at $1,293,000. Susquehanna Fundamental Investments LLC bought a new position in Affiliated Managers Group in the 1st quarter valued at $4,094,000. LSV Asset Management boosted its stake in Affiliated Managers Group by 10.9% in the first quarter. LSV Asset Management now owns 238,504 shares of the asset manager’s stock worth $39,942,000 after purchasing an additional 23,454 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Affiliated Managers Group by 40.8% during the first quarter. Sei Investments Co. now owns 48,185 shares of the asset manager’s stock worth $8,069,000 after purchasing an additional 13,968 shares during the last quarter. 95.30% of the stock is owned by 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.