Affiliated Managers Group, Inc. (AMG) Expected to Announce Earnings of $3.76 Per Share

December 8th, 2018 - 0 comments - Filed Under - by Jeff Wilder

Wall Street analysts expect Affiliated Managers Group, Inc. (NYSE:AMG) to post $3.76 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Affiliated Managers Group’s earnings, with the highest EPS estimate coming in at $3.91 and the lowest estimate coming in at $3.65. Affiliated Managers Group reported earnings of $4.68 per share during the same quarter last year, which would suggest a negative year over year growth rate of 19.7%. The business is scheduled to issue its next earnings results on Monday, February 4th.

On average, analysts expect that Affiliated Managers Group will report full year earnings of $14.75 per share for the current financial year, with EPS estimates ranging from $14.63 to $14.90. For the next financial year, analysts forecast that the firm will report earnings of $15.61 per share, with EPS estimates ranging from $14.78 to $16.15. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Affiliated Managers Group.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, October 29th. The asset manager reported $3.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.42 by $0.03. The business had revenue of $601.30 million for the quarter, compared to analyst estimates of $604.82 million. Affiliated Managers Group had a return on equity of 19.37% and a net margin of 29.38%. Affiliated Managers Group’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.41 EPS.

Several brokerages recently commented on AMG. Bank of America reaffirmed a “buy” rating and issued a $130.00 price target (down previously from $155.00) on shares of Affiliated Managers Group in a research note on Thursday. Zacks Investment Research lowered Affiliated Managers Group from a “hold” rating to a “sell” rating in a research note on Monday, November 19th. Deutsche Bank decreased their price target on Affiliated Managers Group from $164.00 to $158.00 and set a “buy” rating on the stock in a research note on Friday, November 16th. Citigroup decreased their price target on Affiliated Managers Group from $195.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, October 30th. Finally, Barrington Research decreased their price target on Affiliated Managers Group from $200.00 to $150.00 and set an “outperform” rating on the stock in a research note on Monday, October 29th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. Affiliated Managers Group has a consensus rating of “Hold” and an average price target of $183.11.

AMG stock traded down $3.52 during trading on Friday, hitting $103.04. The company had a trading volume of 1,061,362 shares, compared to its average volume of 479,399. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.49 and a quick ratio of 0.42. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 7.06, a P/E/G ratio of 0.59 and a beta of 1.53. Affiliated Managers Group has a fifty-two week low of $101.34 and a fifty-two week high of $216.99.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 21st. Shareholders of record on Thursday, November 8th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Wednesday, November 7th. Affiliated Managers Group’s dividend payout ratio is currently 8.22%.

In other Affiliated Managers Group news, Director Patrick T. Ryan sold 2,034 shares of the business’s stock in a transaction on Friday, November 16th. The stock was sold at an average price of $112.78, for a total value of $229,394.52. Following the transaction, the director now owns 14,821 shares of the company’s stock, valued at $1,671,512.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Hugh Cutler acquired 1,564 shares of Affiliated Managers Group stock in a transaction on Wednesday, October 31st. The stock was acquired at an average cost of $115.48 per share, for a total transaction of $180,610.72. Following the purchase, the executive vice president now owns 7,087 shares of the company’s stock, valued at approximately $818,406.76. The disclosure for this purchase can be found here. 0.91% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. Cornerstone Wealth Management LLC boosted its stake in Affiliated Managers Group by 24.5% in the third quarter. Cornerstone Wealth Management LLC now owns 28,925 shares of the asset manager’s stock worth $149,000 after purchasing an additional 5,698 shares in the last quarter. Zions Bancorporation acquired a new position in Affiliated Managers Group in the third quarter worth $170,000. Trust Co. of Toledo NA OH acquired a new position in Affiliated Managers Group in the third quarter worth $202,000. Candriam Luxembourg S.C.A. acquired a new position in Affiliated Managers Group in the third quarter worth $204,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Affiliated Managers Group in the third quarter worth $223,000. 92.19% of the stock is currently owned by institutional investors.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.