Affiliated Managers Group’s (AMG) Buy Rating Reaffirmed at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their buy rating on shares of Affiliated Managers Group, Inc. (NYSE:AMG) in a research note released on Thursday morning. Keefe, Bruyette & Woods currently has a $229.00 price objective on the asset manager’s stock.

Other analysts have also recently issued reports about the stock. Jefferies Group LLC restated a buy rating and issued a $200.00 price objective on shares of Affiliated Managers Group in a research note on Tuesday, August 1st. BidaskClub cut shares of Affiliated Managers Group from a strong-buy rating to a buy rating in a research note on Monday, July 31st. Zacks Investment Research upgraded shares of Affiliated Managers Group from a hold rating to a buy rating and set a $213.00 price objective for the company in a research note on Monday, October 2nd. ValuEngine upgraded shares of Affiliated Managers Group from a hold rating to a buy rating in a research note on Tuesday, June 27th. Finally, Credit Suisse Group restated a buy rating and issued a $207.00 price objective on shares of Affiliated Managers Group in a research note on Sunday, July 9th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $207.25.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, July 31st. The asset manager reported $3.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.24 by $0.09. Affiliated Managers Group had a net margin of 22.99% and a return on equity of 17.45%. The business had revenue of $570.90 million during the quarter, compared to analysts’ expectations of $573.73 million. During the same period in the previous year, the company earned $3.07 earnings per share. Affiliated Managers Group’s revenue for the quarter was up 3.0% on a year-over-year basis.

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A number of hedge funds have recently made changes to their positions in AMG. BlackRock Inc. increased its position in Affiliated Managers Group by 3,178.4% during the first quarter. BlackRock Inc. now owns 3,425,390 shares of the asset manager’s stock worth $561,556,000 after acquiring an additional 3,320,906 shares during the period. The Manufacturers Life Insurance Company increased its position in Affiliated Managers Group by 60.9% during the second quarter. The Manufacturers Life Insurance Company now owns 3,591,358 shares of the asset manager’s stock worth $595,663,000 after acquiring an additional 1,359,805 shares during the period. Harbour Capital Advisors LLC increased its position in Affiliated Managers Group by 15,766.6% during the second quarter. Harbour Capital Advisors LLC now owns 1,042,596 shares of the asset manager’s stock worth $6,286,000 after acquiring an additional 1,036,025 shares during the period. EdgePoint Investment Group Inc. increased its position in Affiliated Managers Group by 42.2% during the second quarter. EdgePoint Investment Group Inc. now owns 1,932,316 shares of the asset manager’s stock worth $320,494,000 after acquiring an additional 573,066 shares during the period. Finally, Janus Henderson Group PLC increased its position in Affiliated Managers Group by 333.2% during the second quarter. Janus Henderson Group PLC now owns 518,866 shares of the asset manager’s stock worth $86,059,000 after acquiring an additional 399,083 shares during the period. 96.27% of the stock is currently owned by institutional investors and hedge funds.

About Affiliated Managers Group

Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.

Analyst Recommendations for Affiliated Managers Group (NYSE:AMG)

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