Affiliated Managers Group (NYSE:AMG) Given New $154.00 Price Target at Deutsche Bank Aktiengesellschaft

Posted by MarketBeat News on Aug 3rd, 2022

Affiliated Managers Group (NYSE:AMG – Get Rating) had its price objective hoisted by Deutsche Bank Aktiengesellschaft from $133.00 to $154.00 in a report released on Tuesday morning, The Fly reports.

Several other brokerages also recently issued reports on AMG. Barrington Research lowered their price target on Affiliated Managers Group from $190.00 to $160.00 in a report on Monday, May 2nd. Citigroup decreased their price objective on shares of Affiliated Managers Group from $241.00 to $222.00 in a research report on Tuesday, May 3rd. Keefe, Bruyette & Woods decreased their price objective on shares of Affiliated Managers Group from $167.00 to $150.00 and set an outperform rating for the company in a research report on Tuesday, June 28th. Finally, StockNews.com raised shares of Affiliated Managers Group from a hold rating to a buy rating in a research report on Thursday, July 7th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $174.40.

Affiliated Managers Group Stock Down 0.9 %

AMG stock opened at $128.32 on Tuesday. Affiliated Managers Group has a 52 week low of $109.57 and a 52 week high of $191.62. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 0.86 and a beta of 1.31. The business has a fifty day simple moving average of $123.06 and a 200-day simple moving average of $131.84.

Affiliated Managers Group (NYSE:AMG – Get Rating) last announced its quarterly earnings results on Monday, August 1st. The asset manager reported $2.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.95 by ($1.27). Affiliated Managers Group had a net margin of 22.84% and a return on equity of 22.99%. During the same period last year, the company earned $4.03 earnings per share. As a group, analysts expect that Affiliated Managers Group will post 17.98 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 25th. Stockholders of record on Thursday, August 11th will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, August 10th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. Affiliated Managers Group’s payout ratio is 0.30%.

Hedge Funds Weigh In On Affiliated Managers Group

Large investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. lifted its position in shares of Affiliated Managers Group by 70.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 206 shares of the asset manager’s stock worth $33,000 after purchasing an additional 85 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Affiliated Managers Group by 86.8% during the second quarter. Parallel Advisors LLC now owns 241 shares of the asset manager’s stock worth $28,000 after purchasing an additional 112 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of Affiliated Managers Group by 76.3% during the first quarter. Lazard Asset Management LLC now owns 275 shares of the asset manager’s stock worth $38,000 after purchasing an additional 119 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Affiliated Managers Group by 121.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 385 shares of the asset manager’s stock worth $63,000 after acquiring an additional 211 shares during the last quarter. Finally, CX Institutional bought a new position in Affiliated Managers Group in the second quarter worth about $47,000. Institutional investors own 96.35% of the company’s stock.

Affiliated Managers Group Company Profile

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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.