Affiliated Managers Group (NYSE:AMG) Price Target Lowered to $195.00 at Bank of America

Affiliated Managers Group (NYSE:AMG - Free Report) had its price target cut by Bank of America from $211.00 to $195.00 in a research note released on Thursday,Benzinga reports. They currently have a neutral rating on the asset manager's stock.

A number of other equities research analysts have also issued reports on the company. The Goldman Sachs Group lowered Affiliated Managers Group from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $193.00 to $191.00 in a research note on Monday, January 6th. Barrington Research lifted their target price on Affiliated Managers Group from $200.00 to $215.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Finally, StockNews.com raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $194.20.

Affiliated Managers Group Trading Up 0.4 %

Shares of NYSE:AMG traded up $0.56 during trading on Thursday, reaching $146.11. The company's stock had a trading volume of 68,307 shares, compared to its average volume of 236,688. The stock has a market capitalization of $4.27 billion, a PE ratio of 9.63, a price-to-earnings-growth ratio of 0.57 and a beta of 1.09. Affiliated Managers Group has a 12 month low of $139.22 and a 12 month high of $199.52. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.61. The firm's 50 day simple moving average is $169.47 and its two-hundred day simple moving average is $179.84.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its earnings results on Thursday, February 6th. The asset manager reported $6.53 earnings per share for the quarter, beating the consensus estimate of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. On average, research analysts predict that Affiliated Managers Group will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Tuesday, February 18th. Affiliated Managers Group's payout ratio is 0.26%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMG. Townsquare Capital LLC bought a new position in shares of Affiliated Managers Group during the third quarter valued at approximately $218,000. Glenmede Trust Co. NA boosted its position in Affiliated Managers Group by 42.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 2,149 shares of the asset manager's stock valued at $382,000 after acquiring an additional 637 shares in the last quarter. Captrust Financial Advisors boosted its position in Affiliated Managers Group by 91.4% during the 3rd quarter. Captrust Financial Advisors now owns 3,713 shares of the asset manager's stock valued at $660,000 after acquiring an additional 1,773 shares in the last quarter. Verition Fund Management LLC increased its holdings in shares of Affiliated Managers Group by 240.1% in the 3rd quarter. Verition Fund Management LLC now owns 6,289 shares of the asset manager's stock valued at $1,118,000 after acquiring an additional 4,440 shares during the period. Finally, Edgestream Partners L.P. bought a new position in shares of Affiliated Managers Group in the 3rd quarter worth $824,000. 95.30% of the stock is currently owned by 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.