Affiliated Managers Group (NYSE:AMG) Downgraded to “Neutral” Rating by The Goldman Sachs Group

The Goldman Sachs Group lowered shares of Affiliated Managers Group (NYSE:AMG) from a buy rating to a neutral rating in a research note released on Monday morning, MarketBeat.com reports. The firm currently has $191.00 target price on the asset manager’s stock, down from their prior target price of $193.00.

AMG has been the subject of several other research reports. Barrington Research decreased their price objective on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, TD Cowen lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from $226.00 to $177.00 in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $195.40.

Affiliated Managers Group Stock Down 2.1 %

Affiliated Managers Group stock opened at $184.53 on Monday. The company has a market capitalization of $5.58 billion, a PE ratio of 12.04, a PEG ratio of 0.69 and a beta of 1.15. The firm’s fifty day moving average is $186.37 and its 200 day moving average is $177.55. Affiliated Managers Group has a 12-month low of $145.36 and a 12-month high of $199.52.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 earnings per share for the quarter, missing the consensus estimate of $4.84 by ($0.02). The company had revenue of $525.20 million for the quarter, compared to analyst estimates of $521.87 million. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. Affiliated Managers Group’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.08 EPS. Sell-side analysts expect that Affiliated Managers Group will post 20.91 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend was Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.26%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Natixis Advisors LLC boosted its stake in shares of Affiliated Managers Group by 3.0% in the 2nd quarter. Natixis Advisors LLC now owns 12,473 shares of the asset manager’s stock worth $1,949,000 after buying an additional 368 shares during the last quarter. National Bank of Canada FI grew its stake in Affiliated Managers Group by 34.2% in the 2nd quarter. National Bank of Canada FI now owns 3,157 shares of the asset manager’s stock valued at $489,000 after purchasing an additional 805 shares during the period. Victory Capital Management Inc. increased its position in shares of Affiliated Managers Group by 150.1% during the 2nd quarter. Victory Capital Management Inc. now owns 99,407 shares of the asset manager’s stock valued at $15,530,000 after purchasing an additional 59,659 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Affiliated Managers Group by 12.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 58,659 shares of the asset manager’s stock worth $9,164,000 after purchasing an additional 6,616 shares during the period. Finally, LSV Asset Management boosted its holdings in shares of Affiliated Managers Group by 0.8% in the 2nd quarter. LSV Asset Management now owns 240,504 shares of the asset manager’s stock worth $37,574,000 after buying an additional 2,000 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

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.