Barrington Research Issues Pessimistic Forecast for Affiliated Managers Group (NYSE:AMG) Stock Price

Affiliated Managers Group (NYSE:AMG) had its target price cut by investment analysts at Barrington Research from $210.00 to $200.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the asset manager’s stock. Barrington Research’s price objective indicates a potential upside of 7.41% from the stock’s current price. Barrington Research also issued estimates for Affiliated Managers Group’s FY2024 earnings at $20.90 EPS.

Other research analysts have also issued research reports about the company. Bank of America boosted their price target on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Affiliated Managers Group from $219.00 to $204.00 and set a “buy” rating for the company in a report on Tuesday. TD Cowen cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and lowered their target price for the company from $226.00 to $177.00 in a research note on Tuesday. Finally, StockNews.com lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $195.50.

Affiliated Managers Group Stock Performance

Shares of AMG opened at $186.20 on Tuesday. The firm has a fifty day moving average of $180.73 and a 200-day moving average of $168.93. The company has a market cap of $5.55 billion, a price-to-earnings ratio of 10.93, a price-to-earnings-growth ratio of 0.62 and a beta of 1.18. Affiliated Managers Group has a 1 year low of $129.57 and a 1 year high of $199.52.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 EPS for the quarter, missing the consensus estimate of $4.84 by ($0.02). The firm had revenue of $525.20 million during the quarter, compared to analyst estimates of $521.87 million. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. Affiliated Managers Group’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.08 EPS. Analysts predict that Affiliated Managers Group will post 22.02 EPS for the current year.

Insider Buying and Selling

In other Affiliated Managers Group news, insider Rizwan M. Jamal sold 8,622 shares of Affiliated Managers Group stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $172.89, for a total value of $1,490,657.58. Following the transaction, the insider now owns 128,457 shares in the company, valued at approximately $22,208,930.73. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, COO Thomas M. Wojcik sold 4,786 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $172.71, for a total value of $826,590.06. Following the completion of the transaction, the chief operating officer now owns 84,392 shares in the company, valued at $14,575,342.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Rizwan M. Jamal sold 8,622 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $172.89, for a total value of $1,490,657.58. Following the sale, the insider now owns 128,457 shares in the company, valued at approximately $22,208,930.73. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,408 shares of company stock worth $3,865,068 in the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Affiliated Managers Group

Large investors have recently made changes to their positions in the company. Altshuler Shaham Ltd acquired a new stake in Affiliated Managers Group during the 2nd quarter valued at $28,000. Ashton Thomas Securities LLC purchased a new position in shares of Affiliated Managers Group during the third quarter valued at $30,000. UMB Bank n.a. raised its position in Affiliated Managers Group by 481.3% during the third quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock valued at $33,000 after buying an additional 154 shares during the period. Daiwa Securities Group Inc. purchased a new stake in Affiliated Managers Group in the 2nd quarter worth about $47,000. Finally, Goodman Advisory Group LLC acquired a new stake in Affiliated Managers Group during the 2nd quarter worth about $50,000. Institutional investors and hedge funds 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.