Barrington Research Cuts Affiliated Managers Group (NYSE:AMG) Price Target to $200.00

Affiliated Managers Group (NYSE:AMG - Get Free Report) had its target price dropped by research analysts at Barrington Research from $210.00 to $200.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an "outperform" rating on the asset manager's stock. Barrington Research's target price would suggest a potential upside of 12.58% from the stock's previous close.

A number of other equities analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Affiliated Managers Group from $219.00 to $204.00 and set a "buy" rating on the stock in a research note on Tuesday. TD Cowen cut Affiliated Managers Group from a "buy" rating to a "hold" rating and decreased their price objective for the company from $226.00 to $177.00 in a report on Tuesday. Bank of America increased their price objective on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 30th. Finally, StockNews.com downgraded Affiliated Managers Group from a "buy" rating to a "hold" rating in a research report on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $195.50.

Affiliated Managers Group Price Performance

Shares of NYSE:AMG traded up $0.59 during midday trading on Tuesday, hitting $177.65. The company had a trading volume of 423,812 shares, compared to its average volume of 241,774. Affiliated Managers Group has a twelve month low of $129.57 and a twelve month high of $199.52. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 10.47, a price-to-earnings-growth ratio of 0.62 and a beta of 1.18. The business's 50-day simple moving average is $180.34 and its 200-day simple moving average is $168.67.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.84 by ($0.02). Affiliated Managers Group had a return on equity of 16.50% and a net margin of 31.51%. The company had revenue of $525.20 million during the quarter, compared to analyst estimates of $521.87 million. During the same period last year, the business earned $4.08 earnings per share. The firm's revenue was up 1.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Affiliated Managers Group will post 22.02 EPS for the current year.

Insider Buying and Selling at Affiliated Managers Group

In other 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 transaction of $1,547,820.00. Following the completion of the transaction, 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 SEC, which is available at the SEC website. In other Affiliated Managers Group news, insider Rizwan M. Jamal sold 8,622 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $172.89, for a total value of $1,490,657.58. Following the completion of the transaction, the insider now owns 128,457 shares of the company's stock, valued at $22,208,930.73. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jay C. Horgen sold 9,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $171.98, for a total value of $1,547,820.00. Following the completion of the sale, the chief executive officer now owns 377,276 shares in the company, valued at approximately $64,883,926.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,408 shares of company stock valued at $3,865,068 over the last quarter. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Affiliated Managers Group

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its position in shares of Affiliated Managers Group by 50.4% in the 1st quarter. BNP Paribas Financial Markets now owns 7,300 shares of the asset manager's stock valued at $1,223,000 after purchasing an additional 2,447 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Affiliated Managers Group in the first quarter valued at $712,000. Texas Permanent School Fund Corp increased its holdings in Affiliated Managers Group by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 29,589 shares of the asset manager's stock valued at $4,955,000 after buying an additional 383 shares during the last quarter. LSV Asset Management lifted its holdings in Affiliated Managers Group by 10.9% during the 1st quarter. LSV Asset Management now owns 238,504 shares of the asset manager's stock worth $39,942,000 after buying an additional 23,454 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Affiliated Managers Group during the 1st quarter worth about $4,094,000. 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.