Stock market today: Nasdaq closes above 23,000 for first time as tech rebounds
Affiliated Managers Group Inc. (AMG) stock reached an all-time high, closing at 244.17 USD. The company’s strong momentum is reflected in its impressive 43% surge over the past six months, while InvestingPro data shows management has been actively buying back shares, demonstrating confidence in the company’s prospects. This milestone underscores the company’s robust performance over the past year, during which its stock has appreciated by 35.14%. The record high comes as AMG continues to benefit from favorable market conditions and strategic initiatives that have bolstered investor confidence. According to InvestingPro analysis, the company maintains strong financial health with a current ratio of 53.14, while two analysts have recently revised their earnings expectations upward. The significant 1-year change highlights AMG’s resilience and growth potential in a competitive financial landscape, with InvestingPro’s Fair Value analysis suggesting the stock remains undervalued despite its recent gains.
In other recent news, Affiliated Managers Group has seen several analyst upgrades and board changes. BofA Securities upgraded the company’s stock from Neutral to Buy, increasing its price target to $331.00, citing a positive net flow outlook, particularly from its affiliates AQR and Pantheon. Similarly, Goldman Sachs upgraded the stock to Buy with a price target of $218.00, highlighting expected growth in organic base fees and improved flows. TD Cowen also reaffirmed its Buy rating, raising its price target to $287.00, suggesting a structural undervaluation by investors. In a significant board development, Marcy Engel will join the Board of Directors on September 30, 2025, following Dwight D. Churchill’s retirement. Engel brings extensive experience from her previous roles at Sculptor Capital Management and Eton Park Capital Management. These developments reflect a period of strategic adjustments and positive analyst sentiment for Affiliated Managers Group.
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