Deutsche Bank Aktiengesellschaft Has Lowered Expectations for Affiliated Managers Group (NYSE:AMG) Stock Price

Affiliated Managers Group (NYSE:AMG) had its price target reduced by Deutsche Bank Aktiengesellschaft from $219.00 to $204.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 9.56% from the company’s previous close.

Other analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. TD Cowen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $226.00 to $177.00 in a report on Tuesday. Bank of America increased their target price on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $210.00 target price on shares of Affiliated Managers Group in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $195.50.

Affiliated Managers Group Stock Up 4.7 %

NYSE:AMG opened at $186.20 on Tuesday. Affiliated Managers Group has a 52 week low of $129.57 and a 52 week high of $199.52. The stock’s fifty day moving average is $180.73 and its two-hundred day moving average is $168.93. The company has a market capitalization of $5.55 billion, a P/E ratio of 10.93, a P/E/G ratio of 0.62 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.84 by ($0.02). The company had revenue of $525.20 million during the quarter, compared to analysts’ expectations of $521.87 million. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $4.08 earnings per share. Sell-side analysts anticipate that Affiliated Managers Group will post 22.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Affiliated Managers Group

In other news, COO Thomas M. Wojcik sold 4,786 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $172.71, for a total transaction of $826,590.06. Following the completion of the transaction, the chief operating officer now directly owns 84,392 shares of the company’s stock, valued at approximately $14,575,342.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Affiliated Managers Group news, CEO Jay C. Horgen sold 9,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $171.98, for a total value of $1,547,820.00. Following the sale, the chief executive officer now directly owns 377,276 shares in the company, valued at $64,883,926.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Thomas M. Wojcik sold 4,786 shares of Affiliated Managers Group stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $172.71, for a total value of $826,590.06. Following the sale, the chief operating officer now directly owns 84,392 shares of the company’s stock, valued at $14,575,342.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,408 shares of company stock valued at $3,865,068 in the last quarter. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Affiliated Managers Group

Several hedge funds and other institutional investors have recently made changes to their positions in AMG. Atlanta Consulting Group Advisors LLC purchased a new position in Affiliated Managers Group in the third quarter valued at approximately $241,000. Natixis Advisors LLC boosted its holdings in shares of Affiliated Managers Group by 3.1% in the 3rd quarter. Natixis Advisors LLC now owns 12,856 shares of the asset manager’s stock valued at $2,286,000 after buying an additional 383 shares in the last quarter. OneDigital Investment Advisors LLC boosted its holdings in shares of Affiliated Managers Group by 1.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,712 shares of the asset manager’s stock valued at $838,000 after buying an additional 90 shares in the last quarter. Huntington National Bank grew its position in shares of Affiliated Managers Group by 7,575.0% in the 3rd quarter. Huntington National Bank now owns 307 shares of the asset manager’s stock valued at $55,000 after buying an additional 303 shares during the last quarter. Finally, KBC Group NV raised its stake in Affiliated Managers Group by 17.4% during the 3rd quarter. KBC Group NV now owns 980 shares of the asset manager’s stock worth $174,000 after acquiring an additional 145 shares in the last quarter. 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.