TD Cowen Lowers Affiliated Managers Group (NYSE:AMG) Price Target to $198.00

Affiliated Managers Group (NYSE:AMG) had its price target cut by equities research analysts at TD Cowen from $218.00 to $198.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the asset manager’s stock. TD Cowen’s target price would indicate a potential upside of 26.21% from the company’s previous close.

Separately, Barrington Research restated an “outperform” rating and issued a $190.00 target price on shares of Affiliated Managers Group in a report on Tuesday.

Affiliated Managers Group Trading Up 0.8 %

Shares of Affiliated Managers Group stock opened at $156.88 on Tuesday. The company has a fifty day simple moving average of $161.51 and a 200-day simple moving average of $150.05. Affiliated Managers Group has a 12-month low of $120.22 and a 12-month high of $169.65. The stock has a market cap of $5.09 billion, a price-to-earnings ratio of 9.04, a PEG ratio of 0.56 and a beta of 1.31.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, May 6th. The asset manager reported $5.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.21 by $0.16. Affiliated Managers Group had a net margin of 32.71% and a return on equity of 16.29%. The business had revenue of $499.90 million during the quarter, compared to analysts’ expectations of $524.53 million. During the same quarter in the prior year, the business posted $4.18 EPS. On average, analysts forecast that Affiliated Managers Group will post 22.03 earnings per share for the current fiscal year.

Institutional Trading of Affiliated Managers Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Lindbrook Capital LLC raised its position in Affiliated Managers Group by 80.0% in the 4th quarter. Lindbrook Capital LLC now owns 162 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 72 shares during the last quarter. Denali Advisors LLC raised its position in Affiliated Managers Group by 429.2% in the 1st quarter. Denali Advisors LLC now owns 254 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 206 shares during the last quarter. GAMMA Investing LLC purchased a new position in Affiliated Managers Group during the 4th quarter worth $62,000. Quadrant Capital Group LLC raised its position in Affiliated Managers Group by 45.6% during the 4th quarter. Quadrant Capital Group LLC now owns 591 shares of the asset manager’s stock worth $89,000 after buying an additional 185 shares during the last quarter. Finally, Blue Trust Inc. raised its position in Affiliated Managers Group by 17.1% during the 4th quarter. Blue Trust Inc. now owns 617 shares of the asset manager’s stock worth $93,000 after buying an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

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.