Affiliated Managers Group (NYSE:AMG) PT Raised to $163.50

Affiliated Managers Group (NYSE:AMGGet Rating) had its price target upped by Credit Suisse Group from $140.00 to $163.50 in a report published on Tuesday, Marketbeat Ratings reports. The firm currently has an outperform rating on the asset manager’s stock.

Several other brokerages also recently weighed in on AMG. StockNews.com upgraded Affiliated Managers Group from a hold rating to a buy rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft decreased their target price on Affiliated Managers Group from $163.00 to $135.00 and set a buy rating for the company in a research note on Wednesday, October 12th. Finally, Barrington Research increased their target price on Affiliated Managers Group from $145.00 to $155.00 in a research note on Monday, November 7th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $172.92.

Affiliated Managers Group Stock Performance

AMG opened at $153.93 on Tuesday. The company has a market cap of $5.80 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 0.97 and a beta of 1.28. The stock has a 50-day moving average of $123.72 and a 200-day moving average of $125.47. Affiliated Managers Group has a 52-week low of $108.12 and a 52-week high of $186.94.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Thursday, November 17th will be given a $0.01 dividend. The ex-dividend date is Wednesday, November 16th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Affiliated Managers Group’s dividend payout ratio is currently 0.31%.

Institutional Trading of Affiliated Managers Group

A number of hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its position in shares of Affiliated Managers Group by 22.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 442 shares of the asset manager’s stock worth $52,000 after acquiring an additional 81 shares during the period. Greenleaf Trust raised its holdings in shares of Affiliated Managers Group by 6.8% in the 1st quarter. Greenleaf Trust now owns 1,438 shares of the asset manager’s stock worth $203,000 after buying an additional 92 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Affiliated Managers Group by 57.7% in the 2nd quarter. Fifth Third Bancorp now owns 257 shares of the asset manager’s stock worth $30,000 after buying an additional 94 shares in the last quarter. ExodusPoint Capital Management LP raised its holdings in shares of Affiliated Managers Group by 0.5% in the 3rd quarter. ExodusPoint Capital Management LP now owns 22,857 shares of the asset manager’s stock worth $2,557,000 after buying an additional 107 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of Affiliated Managers Group by 86.8% in the 2nd quarter. Parallel Advisors LLC now owns 241 shares of the asset manager’s stock worth $28,000 after buying an additional 112 shares in the last quarter. Institutional investors own 96.62% of the company’s stock.

About Affiliated Managers Group

(Get Rating)

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.

Further Reading

Analyst Recommendations for Affiliated Managers Group (NYSE:AMG)

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