why Affiliated Managers Group Inc. [AMG] is a Good Choice for Investors After New Price Target of $178.57

Affiliated Managers Group Inc. [NYSE: AMG] slipped around -0.09 points on Friday, while shares priced at $156.72 at the close of the session, down -0.06%. The company report on February 5, 2024 at 7:00 AM that AMG Reports Financial and Operating Results for the Fourth Quarter and Full Year 2023.

      Company reports EPS of $5.15, Economic EPS of $6.86 in the fourth quarter of 2023.

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EPS of $17.42, Economic EPS of $19.48 for the full year 2023.

Compared to the average trading volume of 244.97K shares, AMG reached a trading volume of 158661 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Affiliated Managers Group Inc. [AMG]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AMG shares is $178.57 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AMG stock is a recommendation set at 1.86. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

TD Cowen have made an estimate for Affiliated Managers Group Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 04, 2024.

The Average True Range (ATR) for Affiliated Managers Group Inc. is set at 3.13, with the Price to Sales ratio for AMG stock in the period of the last 12 months amounting to 2.42. The Price to Book ratio for the last quarter was 1.45, with the Price to Cash per share for the same quarter was set at 37.70. Price to Free Cash Flow for AMG in the course of the last twelve months was 6.21.

How has AMG stock performed recently?

Affiliated Managers Group Inc. [AMG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.53. With this latest performance, AMG shares gained by 4.49% in over the last four-week period, additionally plugging by 19.07% over the last 6 months – not to mention a drop of -4.74% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AMG stock in for the last two-week period is set at 60.28, with the RSI for the last a single of trading hit 61.12, and the three-weeks RSI is set at 59.99 for Affiliated Managers Group Inc. [AMG]. The present Moving Average for the last 50 days of trading for this stock 150.13, while it was recorded at 155.93 for the last single week of trading, and 140.96 for the last 200 days.

Earnings analysis for Affiliated Managers Group Inc. [AMG]

With the latest financial reports released by the company, Affiliated Managers Group Inc. posted 4.18/share EPS, while the average EPS was predicted by analysts to be reported at 4.16/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AMG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Affiliated Managers Group Inc. go to 11.92%.

Insider trade positions for Affiliated Managers Group Inc. [AMG]

The top three institutional holders of AMG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in AMG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in AMG stock with ownership which is approximately 5.8325%.