Trading Report: The Capital One Financial Corp. Reaffirms Buy Rating for Affiliated Managers Group Inc. (AMG)

The Capital One Financial Corp. Reaffirms Buy Rating for Affiliated Managers Group Inc. (AMG)

Affiliated Managers Group Inc. (NYSE:AMG)‘s stock had its “buy” rating reaffirmed by equities research analysts at Capital One Financial Corp. in a research note issued on Wednesday. They presently have a $188.00 price target on the stock. Capital One Financial Corp.’s target price would indicate a potential upside of 27.83% from the stock’s current price.

Other analysts also recently issued reports about the company. Jefferies Group restated a “buy” rating on shares of Affiliated Managers Group in a research report on Thursday, August 11th. Deutsche Bank AG reduced their target price on Affiliated Managers Group from $192.00 to $183.00 and set a “buy” rating on the stock in a research report on Friday, August 5th. Credit Suisse Group AG reiterated a “buy” rating and set a $238.00 target price on shares of Affiliated Managers Group in a research report on Wednesday, June 8th. Finally, Zacks Investment Research upgraded Affiliated Managers Group from a “sell” rating to a “buy” rating and set a $164.00 target price on the stock in a research report on Tuesday. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $179.92.

Affiliated Managers Group (NYSE:AMG) traded up 2.86% during trading on Wednesday, reaching $151.27. The company’s stock had a trading volume of 225,275 shares. The company’s 50-day moving average is $143.48 and its 200-day moving average is $153.72. Affiliated Managers Group has a 1-year low of $115.97 and a 1-year high of $190.74. The company has a market capitalization of $8.15 billion, a P/E ratio of 17.59 and a beta of 1.56.

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Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, August 1st. The company reported $3.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.01 by $0.05. Affiliated Managers Group had a return on equity of 18.39% and a net margin of 20.47%. The business had revenue of $646.60 million for the quarter, compared to the consensus estimate of $565.16 million. During the same period in the prior year, the business earned $3.08 earnings per share. The business’s revenue was down 14.3% on a year-over-year basis. Equities analysts anticipate that Affiliated Managers Group will post $12.86 EPS for the current year.

Large investors have recently bought and sold shares of the stock. Riverhead Capital Management LLC raised its stake in Affiliated Managers Group by 12.0% in the first quarter. Riverhead Capital Management LLC now owns 17,214 shares of the company’s stock worth $2,796,000 after buying an additional 1,845 shares during the period. Barr E S & Co. increased its position in shares of Affiliated Managers Group by 15.2% in the first quarter. Barr E S & Co. now owns 143,469 shares of the company’s stock worth $23,299,000 after buying an additional 18,922 shares in the last quarter. Pictet Asset Management Ltd. increased its position in shares of Affiliated Managers Group by 3.5% in the first quarter. Pictet Asset Management Ltd. now owns 29,415 shares of the company’s stock worth $4,080,000 after buying an additional 1,000 shares in the last quarter. Rafferty Asset Management LLC increased its position in shares of Affiliated Managers Group by 49.0% in the first quarter. Rafferty Asset Management LLC now owns 7,214 shares of the company’s stock worth $1,172,000 after buying an additional 2,373 shares in the last quarter. Finally, BB&T Securities LLC acquired a new position in shares of Affiliated Managers Group during the first quarter worth approximately $5,241,000. Institutional investors and hedge funds own 96.68% of the company’s stock.

About Affiliated Managers Group

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