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Affiliated Managers Group Inc (AMG): Today's Featured Financial Services Winner

Affiliated Managers Group (AMG) pushed the Financial Services industry higher today making it today's featured financial services winner. The industry as a whole closed the day down 0.2%. By the end of trading, Affiliated Managers Group rose $2.65 (2.4%) to $111.51 on average volume. Throughout the day, 708,616 shares of Affiliated Managers Group exchanged hands as compared to its average daily volume of 502,500 shares. The stock ranged in a price between $106.91-$112.08 after having opened the day at $107.98 as compared to the previous trading day's close of $108.86. Other companies within the Financial Services industry that increased today were: Millennium India Acquisition Corporation (SMCG), up 9%, Newtek Business Services (NEWT), up 6.7%, Cash Store Financial Services (CSFS), up 5.1%, and Investors Capital Holdings (ICH), up 4.2%.

Affiliated Managers Group, Inc., through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. Affiliated Managers Group has a market cap of $5.59 billion and is part of the financial sector. The company has a P/E ratio of 35.3, above the average financial services industry P/E ratio of 35.2 and above the S&P 500 P/E ratio of 17.7. Shares are up 13.5% year to date as of the close of trading on Monday. Currently there are five analysts that rate Affiliated Managers Group a buy, no analysts rate it a sell, and one rates it a hold.

TheStreet Ratings rates Affiliated Managers Group as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.

On the negative front, LPL Financial Holdings (LPLA), down 12.6%, Ampal-American Israel Corporation (AMPL), down 5.7%, Epoch Holding Corporation (EPHC), down 4.8%, and KKR (KKR), down 4%, were all laggards within the financial services industry with NYSE Euronext (NYX) being today's financial services industry laggard.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the financial services industry could consider Financial Select Sector SPDR (XLF) while those bearish on the financial services industry could consider Proshares Short Financials (SEF).

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