Affiliated Managers Group (NYSE:AMG) Rating Lowered to Neutral at The Goldman Sachs Group

The Goldman Sachs Group lowered shares of Affiliated Managers Group (NYSE:AMG) from a buy rating to a neutral rating in a report released on Monday, MarketBeat reports. The firm currently has $191.00 price objective on the asset manager’s stock, down from their previous price objective of $193.00.

Several other equities research analysts also recently issued reports on AMG. TD Cowen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $226.00 to $177.00 in a research report on Tuesday, November 5th. Barrington Research cut their price objective on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Affiliated Managers Group currently has an average rating of “Hold” and an average price target of $195.40.

Affiliated Managers Group Price Performance

Shares of AMG opened at $184.53 on Monday. Affiliated Managers Group has a 1 year low of $145.36 and a 1 year high of $199.52. The stock’s fifty day moving average price is $186.37 and its two-hundred day moving average price is $177.55. The firm has a market cap of $5.58 billion, a PE ratio of 12.04, a PEG ratio of 0.69 and a beta of 1.15.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). The firm had revenue of $525.20 million during the quarter, compared to the consensus estimate of $521.87 million. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The company’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.08 earnings per share. Sell-side analysts anticipate that Affiliated Managers Group will post 20.91 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 Friday, November 29th. Investors of record on Thursday, November 14th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio is currently 0.26%.

Institutional Trading of Affiliated Managers Group

Hedge funds have recently made changes to their positions in the stock. Altshuler Shaham Ltd purchased a new position in shares of Affiliated Managers Group in the 2nd quarter worth about $28,000. Ashton Thomas Securities LLC bought a new stake in Affiliated Managers Group in the 3rd quarter worth approximately $30,000. UMB Bank n.a. boosted its stake in Affiliated Managers Group by 481.3% in the third quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock worth $33,000 after buying an additional 154 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Affiliated Managers Group during the third quarter valued at approximately $46,000. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Affiliated Managers Group during the second quarter worth approximately $47,000. 95.30% of the stock is 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.