Affiliated Managers Group (NYSE:AMG) Lowered to Neutral Rating by The Goldman Sachs Group

The Goldman Sachs Group cut shares of Affiliated Managers Group (NYSE:AMG - Free Report) from a buy rating to a neutral rating in a research note issued to investors on Monday morning, Marketbeat reports. They currently have $191.00 target price on the asset manager's stock, down from their previous target price of $193.00.

Several other equities analysts have also issued reports on AMG. Deutsche Bank Aktiengesellschaft lifted their price target on Affiliated Managers Group from $204.00 to $208.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. TD Cowen lowered Affiliated Managers Group from a "buy" rating to a "hold" rating and lowered their price target for the stock from $226.00 to $177.00 in a research report on Tuesday, November 5th. Finally, Barrington Research lowered their price target on Affiliated Managers Group from $210.00 to $200.00 and set an "outperform" rating for the company in a research report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $195.40.

Affiliated Managers Group Stock Down 2.1 %

Shares of AMG stock traded down $4.02 during mid-day trading on Monday, reaching $184.53. 311,137 shares of the company's stock traded hands, compared to its average volume of 226,112. Affiliated Managers Group has a 12 month low of $145.36 and a 12 month high of $199.52. The company has a market cap of $5.58 billion, a P/E ratio of 12.04, a P/E/G ratio of 0.69 and a beta of 1.15. The company's 50-day moving average price is $186.37 and its 200-day moving average price is $177.55.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its earnings results on Monday, November 4th. The asset manager reported $4.82 EPS for the quarter, missing analysts' consensus estimates of $4.84 by ($0.02). Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The business had revenue of $525.20 million for the quarter, compared to the consensus estimate of $521.87 million. During the same quarter last year, the firm posted $4.08 EPS. The business's quarterly revenue was up 1.7% on a year-over-year basis. Equities analysts predict that Affiliated Managers Group will post 20.91 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis 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 0.26%.

Hedge Funds Weigh In On Affiliated Managers Group

Hedge funds have recently bought and sold shares of the business. Altshuler Shaham Ltd purchased a new position in Affiliated Managers Group in the 2nd quarter worth about $28,000. Ashton Thomas Securities LLC purchased a new stake in shares of Affiliated Managers Group during the 3rd quarter valued at about $30,000. UMB Bank n.a. increased its position in shares of Affiliated Managers Group by 481.3% during the 3rd quarter. UMB Bank n.a. now owns 186 shares of the asset manager's stock valued at $33,000 after purchasing an additional 154 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Affiliated Managers Group during the 3rd quarter valued at about $46,000. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Affiliated Managers Group during the 2nd quarter valued at about $47,000. 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.