Deutsche Bank Lowers Affiliated Managers Group (AMG) Price Target to $103.00

Affiliated Managers Group (NYSE:AMG) had its price objective lowered by stock analysts at Deutsche Bank from $111.00 to $103.00 in a report issued on Tuesday, May 7th, BenzingaRatingsTable reports. The firm currently has a “hold” rating on the asset manager’s stock. Deutsche Bank’s price target suggests a potential upside of 18.09% from the stock’s previous close.

AMG has been the topic of a number of other research reports. Barrington Research restated a “buy” rating and issued a $135.00 price target on shares of Affiliated Managers Group in a report on Tuesday, April 30th. Zacks Investment Research upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a report on Tuesday, April 2nd. ValuEngine cut Affiliated Managers Group from a “sell” rating to a “strong sell” rating in a report on Monday, April 1st. Jefferies Financial Group cut Affiliated Managers Group from a “buy” rating to a “hold” rating and set a $109.87 target price on the stock. in a report on Tuesday, January 29th. Finally, Citigroup cut Affiliated Managers Group from a “buy” rating to a “neutral” rating in a report on Monday, January 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Affiliated Managers Group has an average rating of “Hold” and a consensus price target of $130.86.

Shares of NYSE:AMG traded up $0.38 on Tuesday, hitting $87.22. 469,955 shares of the company’s stock were exchanged, compared to its average volume of 707,071. The stock has a market cap of $4.45 billion, a P/E ratio of 6.02, a P/E/G ratio of 0.62 and a beta of 1.49. Affiliated Managers Group has a 1-year low of $86.84 and a 1-year high of $168.19.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, May 6th. The asset manager reported $3.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.27 by ($0.01). The company had revenue of $543.10 million for the quarter, compared to analysts’ expectations of $541.42 million. Affiliated Managers Group had a negative net margin of 4.77% and a positive return on equity of 17.72%. The firm’s revenue was down 11.3% on a year-over-year basis. During the same period in the prior year, the company earned $3.92 earnings per share. As a group, research analysts forecast that Affiliated Managers Group will post 13.9 EPS for the current fiscal year.

In other news, insider Jay C. Horgen bought 11,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were acquired at an average cost of $93.19 per share, with a total value of $1,025,090.00. Following the transaction, the insider now owns 115,527 shares of the company’s stock, valued at approximately $10,765,961.13. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Tracy P. Palandjian sold 1,694 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $110.64, for a total value of $187,424.16. Following the completion of the transaction, the director now directly owns 4,291 shares in the company, valued at $474,756.24. The disclosure for this sale can be found here. Company insiders own 1.43% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of Nova Scotia grew its stake in Affiliated Managers Group by 332.7% in the fourth quarter. Bank of Nova Scotia now owns 40,701 shares of the asset manager’s stock worth $3,965,000 after purchasing an additional 31,295 shares in the last quarter. Norges Bank acquired a new position in Affiliated Managers Group in the fourth quarter valued at approximately $45,931,000. Dimensional Fund Advisors LP boosted its stake in Affiliated Managers Group by 15.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 344,237 shares of the asset manager’s stock valued at $33,541,000 after acquiring an additional 46,000 shares during the period. Prudential Financial Inc. raised its holdings in shares of Affiliated Managers Group by 38.0% during the fourth quarter. Prudential Financial Inc. now owns 148,218 shares of the asset manager’s stock valued at $14,442,000 after buying an additional 40,803 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Affiliated Managers Group by 6.4% during the first quarter. Nisa Investment Advisors LLC now owns 20,060 shares of the asset manager’s stock valued at $2,149,000 after buying an additional 1,200 shares during the last quarter. 94.71% of the stock is currently owned by institutional investors and hedge funds.

About Affiliated Managers Group

Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

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