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Deutsche Bank Thinks Affiliated Managers’ Stock is Going to Recover


In a report released today, Brian Bedell from Deutsche Bank maintained a Buy rating on Affiliated Managers (NYSE: AMG), with a price target of $172. The company’s shares opened today at $123.19, close to its 52-week low of $122.27.

According to TipRanks.com, Bedell is a 4-star analyst with an average return of 4.8% and a 52.6% success rate. Bedell covers the Financial sector, focusing on stocks such as Janus Henderson Group plc, State Street Corp, and Eaton Vance Corp.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Affiliated Managers with a $190.83 average price target, a 54.9% upside from current levels. In a report issued on October 8, Barrington also reiterated a Buy rating on the stock with a $200 price target.

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Based on Affiliated Managers’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $117 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 positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AMG in relation to earlier this year. Most recently, in August 2018, Samuel Byrne, 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.