Jefferies Group Analysts Boost Earnings Estimates for Affiliated Managers Group, Inc. (AMG)

Affiliated Managers Group, Inc. (NYSE:AMG) – Research analysts at Jefferies Group boosted their FY2018 EPS estimates for Affiliated Managers Group in a research report issued on Tuesday. Jefferies Group analyst D. Fannon now expects that the asset manager will earn $16.12 per share for the year, up from their previous estimate of $16.00. Jefferies Group has a “Buy” rating and a $226.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the company. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $229.00 price objective on shares of Affiliated Managers Group in a research report on Thursday. BidaskClub downgraded Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. Credit Suisse Group raised their price objective on Affiliated Managers Group from $205.00 to $223.00 and gave the company an “outperform” rating in a research report on Friday, August 11th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $215.00 price objective on shares of Affiliated Managers Group in a research report on Wednesday, October 4th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $207.25.

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Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, July 31st. The asset manager reported $3.33 EPS for the quarter, beating the Zacks’ consensus estimate of $3.24 by $0.09. Affiliated Managers Group had a net margin of 22.99% and a return on equity of 17.45%. The firm had revenue of $570.90 million for the quarter, compared to analysts’ expectations of $573.73 million. During the same quarter in the previous year, the business posted $3.07 EPS. The company’s quarterly revenue was up 3.0% on a year-over-year basis.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Affiliated Managers Group by 5.1% in the second quarter. Vanguard Group Inc. now owns 5,574,012 shares of the asset manager’s stock worth $924,505,000 after acquiring an additional 270,929 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Affiliated Managers Group by 60.9% in the second quarter. The Manufacturers Life Insurance Company now owns 3,591,358 shares of the asset manager’s stock worth $595,663,000 after acquiring an additional 1,359,805 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Affiliated Managers Group by 3,178.4% in the first quarter. BlackRock Inc. now owns 3,425,390 shares of the asset manager’s stock worth $561,556,000 after acquiring an additional 3,320,906 shares during the last quarter. State Street Corp boosted its stake in shares of Affiliated Managers Group by 6.7% in the second quarter. State Street Corp now owns 2,757,345 shares of the asset manager’s stock worth $457,334,000 after acquiring an additional 174,278 shares during the last quarter. Finally, Atlanta Capital Management Co. L L C boosted its stake in shares of Affiliated Managers Group by 0.6% in the second quarter. Atlanta Capital Management Co. L L C now owns 1,973,612 shares of the asset manager’s stock worth $327,343,000 after acquiring an additional 10,982 shares during the last quarter. 96.27% of the stock is currently owned by hedge funds and other institutional investors.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.

Earnings History and Estimates for Affiliated Managers Group (NYSE:AMG)

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