Affiliated Managers Group, Inc. (AMG) Expected to Post Quarterly Sales of $580.24 Million
Wall Street analysts expect Affiliated Managers Group, Inc. (NYSE:AMG) to report sales of $580.24 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Affiliated Managers Group’s earnings, with the lowest sales estimate coming in at $565.43 million and the highest estimate coming in at $588.00 million. Affiliated Managers Group reported sales of $544.70 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.5%. The business is expected to report its next quarterly earnings report on Monday, October 30th.
On average, analysts expect that Affiliated Managers Group will report full year sales of $580.24 million for the current fiscal year, with estimates ranging from $2.29 billion to $2.31 billion. For the next fiscal year, analysts forecast that the business will report sales of $2.46 billion per share, with estimates ranging from $2.40 billion to $2.54 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Affiliated Managers Group.
Affiliated Managers Group (NYSE:AMG) last released its quarterly 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 company had revenue of $570.90 million for the quarter, compared to analyst estimates of $573.73 million. During the same quarter last year, the firm posted $3.07 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year.
A number of equities research analysts recently weighed in on AMG shares. Zacks Investment Research upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a research note on Tuesday, April 18th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $215.00 price target on shares of Affiliated Managers Group in a research note on Thursday. ValuEngine upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. BidaskClub upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Finally, Deutsche Bank AG dropped their price target on Affiliated Managers Group from $183.00 to $182.00 and set a “hold” rating on the stock in a research note on Tuesday, April 18th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $193.50.
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In related news, Director Dwight D. Churchill sold 3,277 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $163.30, for a total value of $535,134.10. Following the sale, the director now directly owns 7,301 shares of the company’s stock, valued at $1,192,253.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sean M. Healey sold 56,928 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $161.07, for a total value of $9,169,392.96. Following the completion of the sale, the chief executive officer now directly owns 206,689 shares in the company, valued at $33,291,397.23. The disclosure for this sale can be found here. Insiders sold 69,107 shares of company stock worth $11,065,554 over the last ninety days. 1.40% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in AMG. Paradigm Asset Management Co. LLC acquired a new stake in Affiliated Managers Group during the second quarter valued at $4,047,000. First Interstate Bank raised its stake in Affiliated Managers Group by 159.8% in the second quarter. First Interstate Bank now owns 2,089 shares of the asset manager’s stock valued at $346,000 after buying an additional 1,285 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI acquired a new stake in Affiliated Managers Group during the second quarter valued at $315,000. American Century Companies Inc. raised its stake in Affiliated Managers Group by 24.3% in the second quarter. American Century Companies Inc. now owns 694,845 shares of the asset manager’s stock valued at $115,247,000 after buying an additional 135,663 shares during the period. Finally, Aviva PLC raised its stake in Affiliated Managers Group by 2.6% in the second quarter. Aviva PLC now owns 34,519 shares of the asset manager’s stock valued at $5,726,000 after buying an additional 870 shares during the period. 94.86% of the stock is currently owned by institutional investors and hedge funds.
Affiliated Managers Group (AMG) traded down 0.01% during trading on Friday, hitting $180.63. 347,891 shares of the stock were exchanged. Affiliated Managers Group has a 1-year low of $130.48 and a 1-year high of $187.08. The stock has a market cap of $10.17 billion, a price-to-earnings ratio of 20.01 and a beta of 1.65. The firm’s 50 day moving average price is $171.23 and its 200-day moving average price is $162.48.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Thursday, August 10th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Tuesday, August 8th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 8.87%.
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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