Affiliated Managers Group (NYSE:AMG) Cut to Hold at TD Cowen

TD Cowen cut shares of Affiliated Managers Group (NYSE:AMG) from a buy rating to a hold rating in a report issued on Tuesday, Marketbeat reports. TD Cowen currently has $177.00 price objective on the asset manager’s stock, down from their prior price objective of $226.00.

AMG has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Affiliated Managers Group from $202.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, August 15th. StockNews.com downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Bank of America boosted 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 reiterated an “outperform” rating and issued a $210.00 target price on shares of Affiliated Managers Group in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $195.50.

Affiliated Managers Group Stock Down 1.6 %

AMG stock opened at $183.17 on Tuesday. The company has a 50 day moving average of $180.92 and a two-hundred day moving average of $169.03. The company has a market cap of $5.46 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 0.57 and a beta of 1.18. Affiliated Managers Group has a 12-month low of $129.57 and a 12-month high of $199.52.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly 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). Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The firm had revenue of $525.20 million for the quarter, compared to analysts’ expectations of $521.87 million. During the same period last year, the business earned $4.08 earnings per share. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, research analysts anticipate that Affiliated Managers Group will post 22.02 EPS for the current year.

Affiliated Managers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be given a $0.01 dividend. The ex-dividend date of this dividend 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 dividend payout ratio is currently 0.26%.

Insider Transactions at Affiliated Managers Group

In related news, COO Thomas M. Wojcik sold 4,786 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $172.71, for a total value of $826,590.06. Following the completion of the transaction, the chief operating officer now directly owns 84,392 shares in the company, valued at approximately $14,575,342.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, COO Thomas M. Wojcik sold 4,786 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $172.71, for a total value of $826,590.06. Following the completion of the transaction, the chief operating officer now owns 84,392 shares of the company’s stock, valued at $14,575,342.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Rizwan M. Jamal sold 8,622 shares of Affiliated Managers Group 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 sale, the insider now directly owns 128,457 shares in the company, valued at $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. In the last quarter, insiders have sold 22,408 shares of company stock valued at $3,865,068. 1.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Affiliated Managers Group

Institutional investors have recently bought and sold shares of the business. Ariel Investments LLC increased its stake in shares of Affiliated Managers Group by 8.7% in the second quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager’s stock valued at $225,411,000 after buying an additional 115,808 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Affiliated Managers Group by 150.1% in the second quarter. Victory Capital Management Inc. now owns 99,407 shares of the asset manager’s stock worth $15,530,000 after acquiring an additional 59,659 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Affiliated Managers Group by 36.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 177,530 shares of the asset manager’s stock worth $29,731,000 after purchasing an additional 47,239 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Affiliated Managers Group by 70.6% during the third quarter. Los Angeles Capital Management LLC now owns 100,072 shares of the asset manager’s stock valued at $17,793,000 after purchasing an additional 41,413 shares during the last quarter. Finally, Algert Global LLC grew its stake in shares of Affiliated Managers Group by 74.8% during the second quarter. Algert Global LLC now owns 89,254 shares of the asset manager’s stock valued at $13,944,000 after purchasing an additional 38,206 shares during the last quarter. 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.