Jefferies Financial Group Research Analysts Decrease Earnings Estimates for Affiliated Managers Group, Inc. (AMG)

Affiliated Managers Group, Inc. (NYSE:AMG) – Investment analysts at Jefferies Financial Group reduced their FY2018 earnings per share (EPS) estimates for shares of Affiliated Managers Group in a note issued to investors on Wednesday, January 9th. Jefferies Financial Group analyst D. Fannon now expects that the asset manager will earn $14.48 per share for the year, down from their prior forecast of $14.83. Jefferies Financial Group also issued estimates for Affiliated Managers Group’s Q4 2018 earnings at $3.48 EPS, Q1 2019 earnings at $3.19 EPS, Q2 2019 earnings at $3.32 EPS and Q3 2019 earnings at $3.45 EPS.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, October 29th. The asset manager reported $3.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.42 by $0.03. Affiliated Managers Group had a net margin of 29.38% and a return on equity of 19.37%. The company had revenue of $601.30 million during the quarter, compared to the consensus estimate of $604.82 million. During the same quarter in the prior year, the firm posted $3.41 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis.



A number of other brokerages also recently weighed in on AMG. Bank of America reaffirmed a “buy” rating and set a $130.00 price target (down previously from $155.00) on shares of Affiliated Managers Group in a report on Thursday, December 6th. Barrington Research reissued a “buy” rating and issued a $135.00 price objective on shares of Affiliated Managers Group in a research note on Tuesday. They noted that the move was a valuation call. Citigroup dropped their price objective on shares of Affiliated Managers Group from $140.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, December 19th. Zacks Investment Research downgraded shares of Affiliated Managers Group from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Deutsche Bank dropped their price objective on shares of Affiliated Managers Group from $166.00 to $164.00 and set a “buy” rating for the company in a research note on Tuesday, October 30th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $161.43.

Shares of Affiliated Managers Group stock opened at $102.11 on Friday. Affiliated Managers Group has a 1-year low of $88.46 and a 1-year high of $216.99. The company has a quick ratio of 0.42, a current ratio of 0.49 and a debt-to-equity ratio of 0.07. The company has a market cap of $5.45 billion, a PE ratio of 6.99, a PEG ratio of 0.66 and a beta of 1.45.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in AMG. New Jersey Better Educational Savings Trust increased its position in shares of Affiliated Managers Group by 20.0% during the third quarter. New Jersey Better Educational Savings Trust now owns 2,400 shares of the asset manager’s stock worth $328,000 after buying an additional 400 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in Affiliated Managers Group by 21.2% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 2,339 shares of the asset manager’s stock worth $348,000 after purchasing an additional 409 shares during the period. Guinness Asset Management Ltd grew its holdings in Affiliated Managers Group by 21.9% in the third quarter. Guinness Asset Management Ltd now owns 2,274 shares of the asset manager’s stock worth $310,000 after purchasing an additional 409 shares during the period. Boltwood Capital Management grew its holdings in Affiliated Managers Group by 7.9% in the third quarter. Boltwood Capital Management now owns 6,315 shares of the asset manager’s stock worth $863,000 after purchasing an additional 461 shares during the period. Finally, State of Alaska Department of Revenue grew its holdings in Affiliated Managers Group by 4.0% in the third quarter. State of Alaska Department of Revenue now owns 13,971 shares of the asset manager’s stock worth $1,909,000 after purchasing an additional 531 shares during the period. Hedge funds and other institutional investors own 92.13% of the company’s stock.

About Affiliated Managers Group

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.

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