Citigroup Raises Affiliated Managers Group (NYSE:AMG) Price Target to $213.00

Affiliated Managers Group (NYSE:AMG) had its target price raised by research analysts at Citigroup from $206.00 to $213.00 in a note issued to investors on Tuesday, The Fly reports. Citigroup’s price objective would indicate a potential upside of 32.34% from the stock’s previous close.

Several other research firms have also issued reports on AMG. Barrington Research restated an “outperform” rating and issued a $180.00 price target (up from $145.00) on shares of Affiliated Managers Group in a research report on Monday. Credit Suisse Group lifted their target price on Affiliated Managers Group from $146.00 to $148.00 and gave the company a “neutral” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft raised their price objective on Affiliated Managers Group from $150.00 to $152.00 and gave the company a “hold” rating in a report on Tuesday. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their target price on shares of Affiliated Managers Group from $206.00 to $213.00 and gave the company a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Affiliated Managers Group presently has a consensus rating of “Hold” and an average price target of $150.29.

Shares of Affiliated Managers Group stock traded down $0.46 during trading on Tuesday, hitting $160.95. 6,810 shares of the stock traded hands, compared to its average volume of 422,905. The stock has a market cap of $6.72 billion, a P/E ratio of 69.68, a PEG ratio of 0.53 and a beta of 1.44. Affiliated Managers Group has a twelve month low of $56.80 and a twelve month high of $165.86. The company has a fifty day moving average price of $153.90 and a two-hundred day moving average price of $118.22.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Sunday, May 2nd. The asset manager reported $4.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.24 by $0.04. Affiliated Managers Group had a net margin of 5.37% and a return on equity of 19.15%. The firm had revenue of $559.30 million for the quarter, compared to the consensus estimate of $554.48 million. The business’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.26 earnings per share. As a group, analysts forecast that Affiliated Managers Group will post 12.84 earnings per share for the current fiscal year.

In other news, CEO Jay C. Horgen acquired 4,000 shares of the firm’s stock in a transaction on Tuesday, February 9th. The stock was purchased at an average price of $136.23 per share, for a total transaction of $544,920.00. Following the purchase, the chief executive officer now owns 136,026 shares in the company, valued at approximately $18,530,821.98. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Reuben Jeffery III purchased 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 10th. The shares were acquired at an average cost of $145.53 per share, with a total value of $363,825.00. Following the completion of the transaction, the director now directly owns 17,500 shares of the company’s stock, valued at approximately $2,546,775. The disclosure for this purchase can be found here. 1.69% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Affiliated Managers Group in the 4th quarter worth approximately $40,790,000. Lyrical Asset Management LP grew its position in Affiliated Managers Group by 3.5% in the 4th quarter. Lyrical Asset Management LP now owns 1,034,404 shares of the asset manager’s stock worth $105,199,000 after purchasing an additional 34,880 shares during the period. Integrated Investment Consultants LLC purchased a new position in Affiliated Managers Group in the first quarter worth about $246,000. Truvestments Capital LLC bought a new position in shares of Affiliated Managers Group in the 4th quarter worth approximately $33,000. Finally, UBS Asset Management Americas Inc. grew its position in shares of Affiliated Managers Group by 18.0% during the 4th quarter. UBS Asset Management Americas Inc. now owns 81,174 shares of the asset manager’s stock valued at $8,255,000 after acquiring an additional 12,409 shares during the period. Hedge funds and other institutional investors own 98.78% of the company’s stock.

About Affiliated Managers Group

Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

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Analyst Recommendations for Affiliated Managers Group (NYSE:AMG)

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