Affiliated Managers Group (NYSE:AMG) Stock Rating Reaffirmed by Barrington Research

Affiliated Managers Group (NYSE:AMG)‘s stock had its “outperform” rating reiterated by equities researchers at Barrington Research in a report released on Tuesday, Benzinga reports. They presently have a $190.00 price target on the asset manager’s stock. Barrington Research’s price objective would indicate a potential upside of 21.11% from the stock’s current price.

Affiliated Managers Group Price Performance

Shares of AMG stock opened at $156.88 on Tuesday. The company’s fifty day simple moving average is $161.51 and its two-hundred day simple moving average is $150.05. Affiliated Managers Group has a 1 year low of $120.22 and a 1 year high of $169.65. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 9.04, a PEG ratio of 0.56 and a beta of 1.31.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, May 6th. The asset manager reported $5.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.21 by $0.16. The business had revenue of $499.90 million for the quarter, compared to analysts’ expectations of $524.53 million. Affiliated Managers Group had a net margin of 32.71% and a return on equity of 16.29%. During the same quarter in the previous year, the firm posted $4.18 EPS. Equities research analysts anticipate that Affiliated Managers Group will post 22.03 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AMG. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Affiliated Managers Group by 13.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,840 shares of the asset manager’s stock worth $892,000 after purchasing an additional 816 shares during the period. Mackenzie Financial Corp increased its stake in Affiliated Managers Group by 18.2% in the third quarter. Mackenzie Financial Corp now owns 6,510 shares of the asset manager’s stock valued at $827,000 after acquiring an additional 1,003 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Affiliated Managers Group by 379.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 27,058 shares of the asset manager’s stock valued at $3,527,000 after acquiring an additional 21,414 shares during the last quarter. Citadel Investment Advisory Inc. bought a new position in Affiliated Managers Group in the third quarter valued at $787,000. Finally, Genus Capital Management Inc. bought a new position in Affiliated Managers Group in the third quarter valued at $1,747,000. 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.