Zacks: Analysts Anticipate Affiliated Managers Group, Inc. (AMG) Will Announce Earnings of $3.92 Per Share
Equities research analysts expect that Affiliated Managers Group, Inc. (NYSE:AMG) will post earnings per share of $3.92 for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Affiliated Managers Group’s earnings, with the highest EPS estimate coming in at $4.02 and the lowest estimate coming in at $3.74. Affiliated Managers Group posted earnings of $3.21 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 22.1%. The business is expected to issue its next quarterly earnings report on Monday, May 7th.
According to Zacks, analysts expect that Affiliated Managers Group will report full-year earnings of $17.58 per share for the current financial year, with EPS estimates ranging from $17.04 to $18.00. For the next financial year, analysts expect that the company will report earnings of $19.35 per share, with EPS estimates ranging from $18.51 to $20.50. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Affiliated Managers Group.
Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Monday, January 29th. The asset manager reported $4.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.55 by $0.13. The company had revenue of $604.10 million for the quarter, compared to analysts’ expectations of $608.51 million. Affiliated Managers Group had a net margin of 29.92% and a return on equity of 18.61%. The business’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.80 EPS.
In other news, insider Peter W. Macewen sold 10,000 shares of the stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $197.67, for a total transaction of $1,976,700.00. Following the completion of the transaction, the insider now directly owns 37,682 shares of the company’s stock, valued at approximately $7,448,600.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its holdings in Affiliated Managers Group by 7.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 16,155 shares of the asset manager’s stock worth $3,316,000 after buying an additional 1,073 shares during the period. MetLife Investment Advisors LLC bought a new position in Affiliated Managers Group in the 4th quarter valued at $3,530,000. PEAK6 Investments L.P. boosted its holdings in Affiliated Managers Group by 118.1% in the 4th quarter. PEAK6 Investments L.P. now owns 1,198 shares of the asset manager’s stock valued at $246,000 after purchasing an additional 7,803 shares during the period. Millennium Management LLC boosted its holdings in Affiliated Managers Group by 837.5% in the 4th quarter. Millennium Management LLC now owns 59,069 shares of the asset manager’s stock valued at $12,124,000 after purchasing an additional 52,768 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. boosted its holdings in Affiliated Managers Group by 122.8% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,277 shares of the asset manager’s stock valued at $671,000 after purchasing an additional 1,806 shares during the period. 96.33% of the stock is owned by hedge funds and other institutional investors.
Affiliated Managers Group (NYSE:AMG) traded up $0.31 during mid-day trading on Monday, hitting $187.79. 191,352 shares of the stock were exchanged, compared to its average volume of 426,403. The company has a market cap of $10,300.00, a PE ratio of 22.54, a PEG ratio of 0.67 and a beta of 1.55. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.23. Affiliated Managers Group has a one year low of $148.81 and a one year high of $216.99.
Affiliated Managers Group declared that its board has authorized a share buyback plan on Monday, January 29th that authorizes the company to buyback 3,400,000 shares. This buyback authorization authorizes the asset manager to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th were given a dividend of $0.30 per share. This is an increase from Affiliated Managers Group’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date was Wednesday, February 7th. Affiliated Managers Group’s dividend payout ratio is currently 14.41%.
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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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