Affiliated Managers Group (NYSE:AMG) Downgraded to Hold Rating by TD Cowen

TD Cowen downgraded shares of Affiliated Managers Group (NYSE:AMG - Free Report) from a buy rating to a hold rating in a report issued on Tuesday, MarketBeat.com reports. They currently have $177.00 price target on the asset manager's stock, down from their previous price target of $226.00.

AMG has been the subject of a number of other reports. StockNews.com downgraded shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Affiliated Managers Group from $202.00 to $205.00 and gave the stock a "buy" rating in a research note on Thursday, August 15th. Bank of America increased their price objective on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 30th. Finally, Barrington Research restated an "outperform" rating and set a $210.00 price objective on shares of Affiliated Managers Group in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $195.50.

Affiliated Managers Group Trading Up 0.3 %

Shares of AMG stock traded up $0.59 on Tuesday, hitting $177.65. The stock 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 firm has a market cap of $5.30 billion, a P/E ratio of 10.47, a PEG ratio of 0.62 and a beta of 1.18. The company has a fifty day moving average price of $180.34 and a two-hundred day moving average price of $168.67.

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

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be issued a $0.01 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. Affiliated Managers Group's payout ratio is 0.23%.

Insider Buying and Selling at Affiliated Managers Group

In other Affiliated Managers Group news, CEO Jay C. Horgen sold 9,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 377,276 shares of the company's stock, valued at $64,883,926.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Jay C. Horgen sold 9,000 shares of the firm's stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $171.98, for a total transaction of $1,547,820.00. Following the transaction, the chief executive officer now directly owns 377,276 shares of the company's stock, valued at approximately $64,883,926.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Thomas M. Wojcik sold 4,786 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $172.71, for a total transaction of $826,590.06. Following the transaction, the chief operating officer now directly owns 84,392 shares in the company, valued at $14,575,342.32. This represents 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 in the last three months. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Ariel Investments LLC increased its holdings in shares of Affiliated Managers Group by 8.7% during the second quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager's stock worth $225,411,000 after purchasing an additional 115,808 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Affiliated Managers Group by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 826,123 shares of the asset manager's stock worth $129,065,000 after acquiring an additional 30,059 shares in the last quarter. LSV Asset Management boosted its position in shares of Affiliated Managers Group by 0.8% during the 2nd quarter. LSV Asset Management now owns 240,504 shares of the asset manager's stock worth $37,574,000 after acquiring an additional 2,000 shares in the last quarter. Raymond James & Associates boosted its position in shares of Affiliated Managers Group by 9.6% during the 2nd quarter. Raymond James & Associates now owns 234,647 shares of the asset manager's stock worth $36,659,000 after acquiring an additional 20,514 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Affiliated Managers Group by 6.7% during the 3rd quarter. New York State Common Retirement Fund now owns 185,147 shares of the asset manager's stock worth $32,919,000 after acquiring an additional 11,565 shares in the last quarter. 95.30% of the stock is owned by institutional investors.

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.