Wall Street analysts expect that Affiliated Managers Group, Inc. (NYSE:AMG) will report earnings of $4.50 per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Affiliated Managers Group’s earnings. The highest EPS estimate is $4.59 and the lowest is $4.35. Affiliated Managers Group reported earnings per share of $3.80 in the same quarter last year, which suggests a positive year-over-year growth rate of 18.4%. The company is expected to report its next earnings report on Monday, January 29th.
According to Zacks, analysts expect that Affiliated Managers Group will report full-year earnings of $14.44 per share for the current year, with EPS estimates ranging from $14.30 to $14.54. For the next financial year, analysts expect that the company will post earnings of $16.41 per share, with EPS estimates ranging from $16.06 to $17.00. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that follow Affiliated Managers Group.
Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, October 30th. The asset manager reported $3.41 earnings per share for the quarter, topping analysts’ consensus estimates of $3.36 by $0.05. Affiliated Managers Group had a return on equity of 17.63% and a net margin of 23.29%. The business had revenue of $585.70 million for the quarter, compared to analyst estimates of $586.55 million. During the same quarter last year, the firm posted $3.02 earnings per share. The business’s revenue was up 7.5% compared to the same quarter last year.
Several equities analysts have recently commented on AMG shares. Zacks Investment Research lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Barrington Research reiterated an “outperform” rating and issued a $215.00 price objective on shares of Affiliated Managers Group in a report on Wednesday, October 4th. They noted that the move was a valuation call. Credit Suisse Group reiterated a “buy” rating and issued a $207.00 price objective on shares of Affiliated Managers Group in a report on Sunday, July 9th. Jefferies Group LLC reiterated a “buy” rating and issued a $226.00 price objective on shares of Affiliated Managers Group in a report on Thursday, October 12th. Finally, BidaskClub upgraded Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $207.25.
In other Affiliated Managers Group news, Director Dwight D. Churchill sold 2,080 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $184.28, for a total transaction of $383,302.40. Following the sale, the director now owns 6,104 shares in the company, valued at approximately $1,124,845.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.40% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of AMG. Tributary Capital Management LLC purchased a new stake in Affiliated Managers Group during the 3rd quarter worth about $100,000. Creative Planning increased its holdings in Affiliated Managers Group by 15.0% during the 2nd quarter. Creative Planning now owns 705 shares of the asset manager’s stock worth $117,000 after purchasing an additional 92 shares during the period. Advisor Group Inc. increased its holdings in Affiliated Managers Group by 46.2% during the 2nd quarter. Advisor Group Inc. now owns 722 shares of the asset manager’s stock worth $120,000 after purchasing an additional 228 shares during the period. Bronfman E.L. Rothschild L.P. increased its holdings in Affiliated Managers Group by 2.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 755 shares of the asset manager’s stock worth $125,000 after purchasing an additional 16 shares during the period. Finally, Financial Architects Inc increased its holdings in Affiliated Managers Group by 2.1% during the 2nd quarter. Financial Architects Inc now owns 833 shares of the asset manager’s stock worth $138,000 after purchasing an additional 17 shares during the period. Institutional investors own 96.05% of the company’s stock.
Affiliated Managers Group (NYSE AMG) traded down $0.76 during mid-day trading on Friday, reaching $185.35. The company’s stock had a trading volume of 383,591 shares, compared to its average volume of 296,759. The firm has a market cap of $10.30 billion, a PE ratio of 13.48 and a beta of 1.70.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Thursday, November 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, November 8th. This represents a $0.80 annualized dividend and a yield of 0.43%. Affiliated Managers Group’s dividend payout ratio (DPR) is 8.66%.
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About Affiliated Managers Group
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.
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