Deutsche Bank Aktiengesellschaft Issues Positive Forecast for Affiliated Managers Group (NYSE:AMG) Stock Price

Affiliated Managers Group (NYSE:AMG) had its target price upped by Deutsche Bank Aktiengesellschaft from $204.00 to $208.00 in a research note published on Monday,Benzinga reports. They currently have a buy rating on the asset manager’s stock.

A number of other research firms have also weighed in on AMG. StockNews.com lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. TD Cowen lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their price objective for the stock from $226.00 to $177.00 in a research note on Tuesday, November 5th. Barrington Research cut their price objective on shares of 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. Finally, 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. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $196.50.

Affiliated Managers Group Trading Up 1.0 %

Shares of Affiliated Managers Group stock opened at $186.83 on Monday. Affiliated Managers Group has a 12-month low of $129.99 and a 12-month high of $199.52. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 0.65 and a beta of 1.18. The firm’s 50 day simple moving average is $181.40 and its two-hundred day simple moving average is $169.48.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly 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 net margin of 27.02% and a return on equity of 16.76%. The company had revenue of $525.20 million for the quarter, compared to analyst estimates of $521.87 million. During the same quarter in the previous year, the company posted $4.08 EPS. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, sell-side analysts predict that Affiliated Managers Group will post 21.25 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date is Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.26%.

Insider Buying and Selling

In related news, 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 transaction of $1,547,820.00. Following the sale, the chief executive officer now directly owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, 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 transaction of $1,547,820.00. Following the sale, the chief executive officer now directly owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Rizwan M. Jamal sold 8,622 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $172.89, for a total transaction of $1,490,657.58. Following the transaction, the insider now directly owns 128,457 shares in the company, valued at approximately $22,208,930.73. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,408 shares of company stock valued at $3,865,068. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Affiliated Managers Group

Several hedge funds and other institutional investors have recently modified their holdings of AMG. Altshuler Shaham Ltd purchased a new position in shares of Affiliated Managers Group in the second quarter worth about $28,000. Ashton Thomas Securities LLC purchased a new position in shares of Affiliated Managers Group in the third quarter worth about $30,000. UMB Bank n.a. lifted its stake in shares of Affiliated Managers Group by 481.3% in the third quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock worth $33,000 after buying an additional 154 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in Affiliated Managers Group during the second quarter worth about $47,000. Finally, Prospera Private Wealth LLC acquired a new stake in Affiliated Managers Group during the third quarter worth about $47,000. 95.30% of the stock is owned by hedge funds and other 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.