Citigroup Thinks Affiliated Managers’ Stock is Going to Recover


Citigroup analyst William Katz maintained a Buy rating on Affiliated Managers (AMG) today and set a price target of $130. The company’s shares closed yesterday at $95.72, close to its 52-week low of $93.81.

According to TipRanks.com, Katz is a 3-star analyst with an average return of 1.1% and a 52.3% success rate. Katz covers the Financial sector, focusing on stocks such as Apollo Global Management LLC, Raymond James Financial, and WisdomTree Investments.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Affiliated Managers with a $149.33 average price target.

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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 $125 million.

Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is neutral on the stock. Earlier this month, Jide James Zeitlin, a Director at AMG bought 2,034 shares for a total of $183,507.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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