Are Affiliated Managers (NYSE:AMG) Shares a Sell Now? Citigroup Has Downgraded Stock


Affiliated Managers (NYSE:AMG) Receives a Downgrade

Shares of New York-listed Affiliated Managers (NYSE:AMG) Have been downgraded by expert analysts at Citigroup. Citigroup cut their rating for the $7.79B market cap company to a Neutral from their previous Buy rating.

From a total of 9 analysts covering Affiliated Managers Group (NYSE:AMG) stock, 10 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that 100% of the ratings are positive. The highest target price is $245 while the lowest target price is $175. The mean of all analyst targets is $217.44 with a 59.53% above today’s ($150.44) stock price. Affiliated Managers Group was the topic of 10 analyst reports since August 9, 2015 according to the firm StockzIntelligence Inc. Jefferies maintained shares on October 7 with “Buy” rating. Standpoint Research maintained AMG stock in a recent report from August 9 with “Hold” rating.

Approximately 809,750 shares of stock traded hands or 58.49% up from the average. Affiliated Managers Group, Inc. (NYSE:AMG) has declined 34.84% since May 12, 2015 and is downtrending. It has underperformed by 31.16% the S&P500.

The overall sentiment of institutions has increased to 0.89 in Q2 2015. Its up 0.04, from 0.85 in 2015Q2. The ratio is positive, as 61 institutions have sold all the shares of Affiliated Managers Group, Inc. that they owned while 177 funds have taken shares off the table. 62 funds have purchased shares for the first time while 151 added to their positions. These institutions now hold 61.78 million shares or 19.55% more than the 51.67 million shares they owned in 2015Q2.

The Fund Bruni J V & Co Co currently is holding shares equating to 4.93% of its total portfolio in Affiliated Managers Group, Inc. representing a total of 141,873 shares. Another fund,Lateef Investment Management L.P., is holding a total of 1.06 million shares equating to 4.42% of their holdings. Additionally, Westwood Management Corp Il has a 116,250 share stake in Affiliated Managers Group, Inc. which represents 3.73% of their total portfolio. The Fund, National Investment Services Inc Wi, based out of Wisconsin, has also built up a stake in the stock, which represents a total of 2.95% of their total portfolio. Finally Barr E S & Co, a fund which is based in the state of Kentucky reported a total holdings of 126,313 shares.

Affiliated Managers Group, Inc. is a global asset management firm with equity investments in a diverse group of boutique investment management firms (Affiliates). The company has a market cap of $7.79 billion. The Firm manages approximately $620.2 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. It has 16.33 P/E ratio. The Company’s Institutional Distribution Channel, through its Affiliates, manages assets for large institutional investors across the world, including sovereign wealth funds, foundations, endowments, and retirement plans for firms and municipalities.

According to Zacks Investment Research, “Affiliated Managers Group Inc. is an asset management holding company which acquires majority interests in mid-sized investment management firms. AMG has developed an innovative transaction structure which it believes is a superior succession planning alternative for growing mid-sized investment management firms.”