Affiliated Managers Group (NYSE:AMG) Releases Q2 Earnings Guidance

Affiliated Managers Group (NYSE:AMG) updated its second quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $4.50-$4.60 for the period, compared to the consensus estimate of $4.86.

Affiliated Managers Group Price Performance

AMG traded up $1.32 during trading on Wednesday, reaching $156.88. The company had a trading volume of 522,954 shares, compared to its average volume of 249,905. The business’s fifty day moving average price is $161.50 and its 200 day moving average price is $150.00. Affiliated Managers Group has a 12 month low of $120.22 and a 12 month high of $169.65. The company has a market cap of $5.09 billion, a P/E ratio of 8.97, a PEG ratio of 0.56 and a beta of 1.31.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, May 6th. The asset manager reported $5.37 earnings per share for the quarter, topping analysts’ consensus estimates of $5.21 by $0.16. The firm had revenue of $499.90 million during the quarter, compared to analyst estimates of $524.53 million. Affiliated Managers Group had a net margin of 32.71% and a return on equity of 16.29%. During the same period in the prior year, the business earned $4.18 EPS. As a group, sell-side analysts predict that Affiliated Managers Group will post 22.03 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Wednesday, May 15th. Affiliated Managers Group’s payout ratio is 0.23%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. TD Cowen decreased their target price on shares of Affiliated Managers Group from $218.00 to $198.00 and set a buy rating for the company in a research report on Tuesday. Barrington Research reiterated an outperform rating and set a $190.00 target price on shares of Affiliated Managers Group in a report on Tuesday.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.