Affiliated Managers Group (NYSE:AMG) Announces Quarterly Earnings Results

Affiliated Managers Group (NYSE:AMG) posted its quarterly earnings data on Thursday. The asset manager reported $6.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.03 by $0.50, Zacks reports. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%.

Affiliated Managers Group Stock Performance

Affiliated Managers Group stock opened at $182.63 on Friday. Affiliated Managers Group has a 52 week low of $147.13 and a 52 week high of $199.52. The stock has a market capitalization of $5.52 billion, a P/E ratio of 11.91, a price-to-earnings-growth ratio of 0.69 and a beta of 1.15. The stock has a fifty day moving average of $185.22 and a 200-day moving average of $181.11.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AMG shares. Barrington Research boosted their price target on Affiliated Managers Group from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday. The Goldman Sachs Group downgraded Affiliated Managers Group from a “buy” rating to a “neutral” rating and cut their target price for the company from $193.00 to $191.00 in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft increased their target price on Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, TD Cowen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their price target for the company from $226.00 to $177.00 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, the stock currently has an average rating of “Hold” and an average price target of $198.40.

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.