Credit Suisse Reiterates a Buy Rating on Affiliated Managers

By Ryan Adsit

In a report issued on November 3, Craig Siegenthaler from Credit Suisse reiterated a Buy rating on Affiliated Managers (NYSE: AMG), with a price target of $195. The company’s shares closed last Friday at $132.29.

According to TipRanks.com, Siegenthaler is a 1-star analyst with an average return of -1.4% and a 47.7% success rate. Siegenthaler covers the Financial sector, focusing on stocks such as Huntington Bancshares Inc., Virtus Investment Partners, and Oaktree Capital Group Llc.

Affiliated Managers has an analyst consensus of Moderate Buy, with a price target consensus of $193.

Affiliated Managers’ market cap is currently $7.38B and has a P/E ratio of 15.36. The company has a book value ratio of 2.5291.

Based on the recent corporate insider activity of 24 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 July 2016, Jide James Zeitlin, a Director at AMG bought 14,843 shares for a total of $1,289,410.

Affiliated Managers Group, Inc. is an asset management company with equity investments in a diverse group of growing, boutique investment management firms. It provides assistance to investment management firms in strategic matters, marketing, distribution, product development and operations. The company operates its business through the following segments: Institutional, High Net Worth and Mutual Fund. The Institutional Distribution Channel segment offers investment styles in the Institutional distribution channel, including small, small/mid, mid and large capitalization value, growth equity and emerging markets. The Mutual Fund Distribution Channel segment provides advisory or sub-advisory services to mutual funds. The High Net Worth Distribution Channel segment consists principally of direct relationships with high net worth individuals and families and charitable foundations. Affiliated Managers Group was founded by William J. Nutt in December 1993 and is headquartered in West Palm Beach, FL.