In a report released today, Alexander Paris from Barrington reiterated a Buy rating on Affiliated Managers (AMG), with a price target of $135. The company’s shares opened today at $102.37, close to its 52-week low of $88.47.
Paris wrote:
“We estimate that the impact as it pertains to AMG’s AUM mix (60% equity markets, 40% alternatives) is a negative 3%. As a rule of thumb, each 1% up or down adds or takes away $0.14 per share on a full‐year basis. Management’s guidance on October 29 reflected market performance through October 26 – SPX ‐8.8%, DJ Developed ‐9.6%, DJ Emerging ‐9.2%.”
According to TipRanks.com, Paris is a 3-star analyst with an average return of 1.7% and a 44.6% success rate. Paris covers the Services sector, focusing on stocks such as Adtalem Global Education Inc, American Public Education, and Strategic Education Inc.
Currently, the analyst consensus on Affiliated Managers is a Strong Buy with an average price target of $149.33.
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Based on Affiliated Managers’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $125 million. In comparison, last year the company had a net profit of $315 million.
Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is neutral on the stock. Most recently, in December 2018, Jide James Zeitlin, a Director at AMG bought 2,034 shares for a total of $183,507.
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Affiliated Managers Group, Inc. is an asset management company with equity investments in a diverse group of growing, boutique investment management firms. The company provides assistance to investment management firms in strategic matters, marketing, distribution, product development and operations.
