Brokerages Expect Affiliated Managers Group, Inc. (AMG) to Announce $3.23 EPS
Analysts expect that Affiliated Managers Group, Inc. (NYSE:AMG) will report earnings per share (EPS) of $3.23 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Affiliated Managers Group’s earnings, with estimates ranging from $3.20 to $3.28. Affiliated Managers Group reported earnings per share of $3.06 in the same quarter last year, which would suggest a positive year over year growth rate of 5.6%. The business is scheduled to announce its next quarterly earnings results on Monday, August 7th.
On average, analysts expect that Affiliated Managers Group will report full year earnings of $14.50 per share for the current financial year, with EPS estimates ranging from $14.10 to $15.05. For the next fiscal year, analysts anticipate that the business will report earnings of $16.18 per share, with EPS estimates ranging from $15.64 to $17.40. Zacks’ earnings per share averages are an average based on a survey of analysts that follow Affiliated Managers Group.
Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, May 1st. The asset manager reported $3.21 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.03. The business had revenue of $544.30 million during the quarter, compared to analyst estimates of $551.56 million. Affiliated Managers Group had a net margin of 22.31% and a return on equity of 17.53%. The company’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.94 EPS.
AMG has been the topic of a number of recent analyst reports. TheStreet raised shares of Affiliated Managers Group from a “c+” rating to a “b” rating in a research report on Monday, March 20th. Jefferies Group LLC increased their price objective on shares of Affiliated Managers Group from $195.00 to $197.00 and gave the company a “buy” rating in a research report on Friday, April 7th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $185.00 price objective on shares of Affiliated Managers Group in a research report on Tuesday, April 4th. Zacks Investment Research raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research report on Tuesday, April 18th. Finally, Citigroup Inc. reissued a “buy” rating on shares of Affiliated Managers Group in a research report on Tuesday, May 2nd. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $187.50.
Shares of Affiliated Managers Group (AMG) traded up 0.86% during midday trading on Wednesday, reaching $163.25. 312,088 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $156.97 and its 200 day moving average is $156.91. Affiliated Managers Group has a one year low of $130.48 and a one year high of $171.65. The firm has a market cap of $9.24 billion, a PE ratio of 18.57 and a beta of 1.65.
The business also recently announced a quarterly dividend, which was paid on Thursday, May 25th. Stockholders of record on Thursday, May 11th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Tuesday, May 9th. Affiliated Managers Group’s payout ratio is 9.12%.
In other news, Director Dwight D. Churchill sold 3,277 shares of the company’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $163.30, for a total value of $535,134.10. Following the completion of the transaction, the director now owns 7,301 shares in the company, valued at approximately $1,192,253.30. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Patrick T. Ryan sold 8,902 shares of the company’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $152.89, for a total transaction of $1,361,026.78. Following the completion of the transaction, the director now owns 10,342 shares of the company’s stock, valued at approximately $1,581,188.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,107 shares of company stock valued at $11,065,554. Company insiders own 1.96% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Clearbridge Investments LLC boosted its position in shares of Affiliated Managers Group by 39.9% in the first quarter. Clearbridge Investments LLC now owns 625,006 shares of the asset manager’s stock valued at $102,463,000 after buying an additional 178,128 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Affiliated Managers Group during the first quarter valued at about $1,191,000. Pointe Capital Management LLC bought a new position in shares of Affiliated Managers Group during the first quarter valued at about $233,000. Public Employees Retirement System of Ohio boosted its position in shares of Affiliated Managers Group by 2.7% in the first quarter. Public Employees Retirement System of Ohio now owns 55,348 shares of the asset manager’s stock valued at $9,074,000 after buying an additional 1,460 shares during the last quarter. Finally, Bank of Nova Scotia bought a new position in shares of Affiliated Managers Group during the first quarter valued at about $2,126,000. Institutional investors and hedge funds own 95.89% 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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