In addition, analysts at Keefe, Bruyette & Woods raised their price target on shares of AMG from $236.00 to $237.00 and gave the company an outperform rating in a research note on Wednesday. Analysts at Citigroup, Inc. raised their price target on shares of AMG from $240.00 to $250.00 and gave the company a buy rating in a research note on Friday, January 9th. Finally, analysts at Deutsche Bank reiterated a buy rating and set a $240.00 price target (up previously from $234.00) on shares of AMG in a research note on Friday, December 12.
One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and a consensus target price of $238.86.
Shares of AMG traded up 0.72% during mid-day trading on Wednesday, January 28, hitting $207.10. The stock had a trading volume of 18,129 shares. AMG has a 52-week low of $174.43 and a 52-week high of $216.49. The stock’s 50-day moving average is $204.8 and its 200-day moving average is $201.3.
The company has a market cap of $11.452 billion and a P/E ratio of 25.67.
AMG last issued its quarterly earnings data on Tuesday, January 27th. The company reported $3.55 EPS for the quarter, beating the Thomson Reuters consensus estimate of $3.46 by $0.09.
The company had revenue of $641.20 million for the quarter, compared to the consensus estimate of $662.28 million. During the same quarter in the prior year, the company posted $3.66 earnings per share. The company’s quarterly revenue was up 7.9% on a year-over-year basis. On average, analysts predict that AMG will post $13.71 earnings per share for the current fiscal year.
Affiliated Managers Group, Inc., is a global asset management company with equity investments in a diverse group of boutique investment management firms (Affiliates). As of December 31, 2013, the company managed $537.3 billion in assets through its affiliates across a range of asset classes and investment styles in three principal distribution channels: institutional, mutual fund and high net worth. ##
(Graphic Credit: Affiliated Managers Group)
Article submitted by Sandra Lane to – Daily Business News – MHProNews.
