Jefferies Group Brokers Raise Earnings Estimates for Affiliated Managers Group, Inc. (AMG)

Affiliated Managers Group, Inc. (NYSE:AMG) – Analysts at Jefferies Group raised their Q4 2017 EPS estimates for shares of Affiliated Managers Group in a research note issued to investors on Wednesday. Jefferies Group analyst D. Fannon now expects that the asset manager will earn $4.50 per share for the quarter, up from their previous forecast of $4.48. Jefferies Group has a “Buy” rating and a $226.00 price target on the stock. Jefferies Group also issued estimates for Affiliated Managers Group’s Q1 2018 earnings at $3.74 EPS, Q3 2018 earnings at $3.81 EPS and FY2019 earnings at $18.51 EPS.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, October 30th. The asset manager reported $3.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.36 by $0.05. The company had revenue of $585.70 million for the quarter, compared to analysts’ expectations of $586.55 million. Affiliated Managers Group had a net margin of 23.29% and a return on equity of 17.63%. Affiliated Managers Group’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.02 EPS.

A number of other brokerages have also commented on AMG. Zacks Investment Research lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Credit Suisse Group reiterated a “hold” rating and issued a $215.00 price target on shares of Affiliated Managers Group in a research note on Friday. Barrington Research reiterated an “outperform” rating and issued a $215.00 price target on shares of Affiliated Managers Group in a research note on Wednesday, October 4th. They noted that the move was a valuation call. Goldman Sachs Group lowered shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $216.00 price target on the stock. in a research note on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $229.00 price target on shares of Affiliated Managers Group in a research note on Thursday, October 12th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $211.00.

Shares of Affiliated Managers Group (AMG) opened at $202.80 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.24. The stock has a market cap of $11,270.00, a PE ratio of 21.95, a PEG ratio of 0.72 and a beta of 1.71. Affiliated Managers Group has a fifty-two week low of $139.52 and a fifty-two week high of $207.67.

In related news, insider Peter W. Macewen sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $197.67, for a total value of $1,976,700.00. Following the transaction, the insider now owns 37,682 shares in the company, valued at approximately $7,448,600.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Dwight D. Churchill sold 2,080 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $184.28, for a total transaction of $383,302.40. Following the transaction, the director now owns 6,104 shares in the company, valued at approximately $1,124,845.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,585 shares of company stock worth $16,734,012. 1.40% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in AMG. Pacer Advisors Inc. grew its position in shares of Affiliated Managers Group by 7.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,183 shares of the asset manager’s stock worth $196,000 after purchasing an additional 87 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Affiliated Managers Group during the 2nd quarter worth approximately $256,000. Tredje AP fonden grew its position in shares of Affiliated Managers Group by 24.2% during the 2nd quarter. Tredje AP fonden now owns 1,780 shares of the asset manager’s stock worth $295,000 after purchasing an additional 347 shares in the last quarter. Riverhead Capital Management LLC grew its position in shares of Affiliated Managers Group by 80.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,717 shares of the asset manager’s stock worth $782,000 after purchasing an additional 2,096 shares in the last quarter. Finally, Stephens Inc. AR grew its position in shares of Affiliated Managers Group by 0.4% during the 2nd quarter. Stephens Inc. AR now owns 2,247 shares of the asset manager’s stock worth $373,000 after purchasing an additional 9 shares in the last quarter. Hedge funds and other institutional investors own 95.65% of the company’s stock.

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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.

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