Affiliated Managers Group (NYSE:AMG) Cut to “Neutral” at The Goldman Sachs Group

The Goldman Sachs Group lowered shares of Affiliated Managers Group (NYSE:AMG) from a buy rating to a neutral rating in a research note released on Monday morning, MarketBeat Ratings reports. The Goldman Sachs Group currently has $191.00 price objective on the asset manager’s stock, down from their prior price objective of $193.00.

Several other brokerages also recently weighed in on AMG. TD Cowen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their target price for the stock from $226.00 to $177.00 in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their price objective 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. Finally, Barrington Research reduced their price objective on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $195.40.

Affiliated Managers Group Stock Up 0.1 %

AMG opened at $180.63 on Monday. Affiliated Managers Group has a 52 week low of $145.36 and a 52 week high of $199.52. The business has a fifty day simple moving average of $185.76 and a 200-day simple moving average of $177.73. The firm has a market cap of $5.46 billion, a P/E ratio of 11.78, a P/E/G ratio of 0.69 and a beta of 1.15.

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

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was 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 currently 0.26%.

Institutional Trading of Affiliated Managers Group

A number of institutional investors have recently bought and sold shares of the business. Nordea Investment Management AB raised its position in shares of Affiliated Managers Group by 6.0% during the 4th quarter. Nordea Investment Management AB now owns 43,018 shares of the asset manager’s stock worth $8,009,000 after acquiring an additional 2,448 shares in the last quarter. GAMMA Investing LLC increased its stake in Affiliated Managers Group by 11.8% in the fourth quarter. GAMMA Investing LLC now owns 888 shares of the asset manager’s stock valued at $164,000 after purchasing an additional 94 shares during the last quarter. Franklin Resources Inc. raised its holdings in Affiliated Managers Group by 18.3% during the third quarter. Franklin Resources Inc. now owns 101,913 shares of the asset manager’s stock worth $19,363,000 after purchasing an additional 15,746 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Affiliated Managers Group during the 3rd quarter worth approximately $46,000. Finally, World Investment Advisors LLC acquired a new position in shares of Affiliated Managers Group in the 3rd quarter valued at $2,592,000. 95.30% of the stock is owned by hedge funds and other 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.