Brokerages Anticipate Affiliated Managers Group, Inc. (NYSE:AMG) Will Announce Earnings of $5.74 Per Share

Equities analysts expect Affiliated Managers Group, Inc. (NYSE:AMG) to report earnings of $5.74 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Affiliated Managers Group’s earnings. The highest EPS estimate is $5.82 and the lowest is $5.69. Affiliated Managers Group reported earnings of $4.22 per share during the same quarter last year, which indicates a positive year over year growth rate of 36%. The firm is scheduled to report its next quarterly earnings results on Monday, February 14th.

According to Zacks, analysts expect that Affiliated Managers Group will report full-year earnings of $18.04 per share for the current fiscal year, with EPS estimates ranging from $18.00 to $18.13. For the next year, analysts expect that the firm will post earnings of $20.70 per share, with EPS estimates ranging from $20.40 to $21.00. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Affiliated Managers Group.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, November 1st. The asset manager reported $4.00 EPS for the quarter, topping the consensus estimate of $3.91 by $0.09. The firm had revenue of $575.20 million for the quarter, compared to the consensus estimate of $587.91 million. Affiliated Managers Group had a net margin of 22.12% and a return on equity of 21.02%. The business’s quarterly revenue was up 16.2% on a year-over-year basis. During the same quarter last year, the firm posted $3.27 EPS.

Several research firms have recently issued reports on AMG. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Affiliated Managers Group from $212.00 to $219.00 and gave the stock a “buy” rating in a report on Tuesday, November 2nd. Citigroup lifted their target price on shares of Affiliated Managers Group from $232.00 to $275.00 and gave the company a “buy” rating in a research report on Tuesday, November 2nd. Finally, Barrington Research lifted their target price on shares of Affiliated Managers Group from $190.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, November 1st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $224.83.

Shares of NYSE:AMG traded down $1.76 on Thursday, hitting $176.14. 150,712 shares of the company were exchanged, compared to its average volume of 302,141. The firm’s 50 day moving average price is $165.51. Affiliated Managers Group has a one year low of $86.94 and a one year high of $191.62. The stock has a market capitalization of $7.16 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 0.64 and a beta of 1.39.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 24th. Shareholders of record on Wednesday, November 10th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend was Tuesday, November 9th. Affiliated Managers Group’s payout ratio is presently 0.35%.

In related news, CEO Jay C. Horgen acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, September 14th. The shares were bought at an average cost of $158.01 per share, with a total value of $316,020.00. Following the completion of the transaction, the chief executive officer now directly owns 183,783 shares of the company’s stock, valued at $29,039,551.83. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Reuben Jeffery III purchased 2,700 shares of the stock in a transaction that occurred on Tuesday, November 2nd. The shares were acquired at an average cost of $188.39 per share, for a total transaction of $508,653.00. The disclosure for this purchase can be found here. 0.70% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in AMG. JPMorgan Chase & Co. grew its stake in Affiliated Managers Group by 213.5% during the second quarter. JPMorgan Chase & Co. now owns 758,808 shares of the asset manager’s stock worth $117,016,000 after buying an additional 516,751 shares in the last quarter. Millennium Management LLC raised its holdings in Affiliated Managers Group by 446.1% during the 2nd quarter. Millennium Management LLC now owns 147,116 shares of the asset manager’s stock worth $22,687,000 after purchasing an additional 120,178 shares during the last quarter. Hallmark Capital Management Inc. bought a new position in Affiliated Managers Group during the 2nd quarter worth approximately $16,837,000. Assenagon Asset Management S.A. raised its holdings in Affiliated Managers Group by 462.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 122,676 shares of the asset manager’s stock worth $18,535,000 after purchasing an additional 100,849 shares during the last quarter. Finally, Spyglass Capital Management LLC increased its stake in shares of Affiliated Managers Group by 4.4% in the 3rd quarter. Spyglass Capital Management LLC now owns 1,579,728 shares of the asset manager’s stock valued at $238,681,000 after acquiring an additional 67,073 shares in the last quarter. Hedge funds and other institutional investors own 98.70% of the company’s stock.

About Affiliated Managers Group

Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. It provides assistance on strategic matters, marketing, distribution, product development, and operations. The company was founded by William J. Nutt in December 1993 and is headquartered in West Palm Beach, FL.

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