Affiliated Managers Group (NYSE:AMG) Price Target Cut to $168.00 by Analysts at TD Cowen

Affiliated Managers Group (NYSE:AMG - Get Free Report) had its price objective dropped by equities researchers at TD Cowen from $187.00 to $168.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "hold" rating on the asset manager's stock. TD Cowen's target price would suggest a potential upside of 6.08% from the company's previous close.

AMG has been the subject of a number of other research reports. StockNews.com raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Barrington Research dropped their price target on Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. The Goldman Sachs Group lowered Affiliated Managers Group from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $193.00 to $191.00 in a research report on Monday, January 6th. Finally, Bank of America dropped their target price on Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $192.40.

Affiliated Managers Group Stock Up 0.3 %

NYSE AMG traded up $0.54 during mid-day trading on Wednesday, reaching $158.37. 302,724 shares of the company's stock traded hands, compared to its average volume of 238,188. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.61. Affiliated Managers Group has a 1-year low of $139.22 and a 1-year high of $199.52. The company has a fifty day simple moving average of $165.44 and a 200-day simple moving average of $178.82. The company has a market cap of $4.63 billion, a price-to-earnings ratio of 10.49, a P/E/G ratio of 0.57 and a beta of 1.09.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The asset manager reported $6.53 EPS for the quarter, topping analysts' consensus estimates of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. As a group, equities research analysts expect that Affiliated Managers Group will post 22.86 EPS for the current year.

Institutional Investors Weigh In On Affiliated Managers Group

Several institutional investors have recently bought and sold shares of the stock. Captrust Financial Advisors raised its position in shares of Affiliated Managers Group by 91.4% during the third quarter. Captrust Financial Advisors now owns 3,713 shares of the asset manager's stock worth $660,000 after purchasing an additional 1,773 shares during the period. Quantinno Capital Management LP raised its holdings in Affiliated Managers Group by 108.7% during the 3rd quarter. Quantinno Capital Management LP now owns 12,066 shares of the asset manager's stock worth $2,145,000 after buying an additional 6,284 shares during the period. Kovitz Investment Group Partners LLC purchased a new stake in Affiliated Managers Group during the third quarter valued at about $543,000. EP Wealth Advisors LLC acquired a new position in shares of Affiliated Managers Group in the third quarter worth about $260,000. Finally, National Bank of Canada FI boosted its holdings in shares of Affiliated Managers Group by 260.4% in the third quarter. National Bank of Canada FI now owns 11,379 shares of the asset manager's stock worth $2,023,000 after buying an additional 8,222 shares during the period. Institutional investors and hedge funds own 95.30% of the company's stock.

Affiliated Managers Group Company Profile

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.