Affiliated Managers Group (NYSE:AMG) Issues Quarterly Earnings Results, Beats Estimates By $0.83 EPS

Affiliated Managers Group (NYSE:AMGGet Free Report) released its quarterly earnings results on Monday. The asset manager reported $6.86 earnings per share for the quarter, topping analysts’ consensus estimates of $6.03 by $0.83, MarketWatch Earnings reports. The firm had revenue of $502.70 million during the quarter, compared to analysts’ expectations of $524.98 million. Affiliated Managers Group had a return on equity of 17.65% and a net margin of 59.89%. Affiliated Managers Group’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.28 EPS. Affiliated Managers Group updated its Q1 guidance to $5.03-$5.24 EPS.

Affiliated Managers Group Trading Up 4.9 %

AMG stock opened at $157.00 on Tuesday. The firm has a market cap of $5.31 billion, a P/E ratio of 5.30, a P/E/G ratio of 0.79 and a beta of 1.31. Affiliated Managers Group has a 12-month low of $120.22 and a 12-month high of $173.14. The stock’s 50 day simple moving average is $147.41 and its 200 day simple moving average is $137.91.

Analyst Upgrades and Downgrades

AMG has been the subject of several research analyst reports. StockNews.com upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Friday, October 20th. Jefferies Financial Group reduced their target price on Affiliated Managers Group from $164.00 to $157.00 in a research note on Tuesday, October 10th. Barrington Research increased their target price on Affiliated Managers Group from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, January 16th. TD Cowen initiated coverage on Affiliated Managers Group in a research note on Thursday, January 4th. They set an “outperform” rating and a $185.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Affiliated Managers Group from $150.00 to $148.00 and set a “buy” rating for the company in a research note on Wednesday, October 11th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $168.20.

View Our Latest Report on AMG

Institutional Investors Weigh In On Affiliated Managers Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mariner LLC raised its position in shares of Affiliated Managers Group by 5.0% during the 4th quarter. Mariner LLC now owns 2,164 shares of the asset manager’s stock valued at $343,000 after acquiring an additional 103 shares in the last quarter. Lazard Asset Management LLC increased its position in Affiliated Managers Group by 76.3% in the first quarter. Lazard Asset Management LLC now owns 275 shares of the asset manager’s stock worth $38,000 after buying an additional 119 shares during the period. Raymond James Trust N.A. increased its position in Affiliated Managers Group by 1.6% in the second quarter. Raymond James Trust N.A. now owns 8,110 shares of the asset manager’s stock worth $1,216,000 after buying an additional 127 shares during the period. Captrust Financial Advisors increased its position in Affiliated Managers Group by 18.4% in the first quarter. Captrust Financial Advisors now owns 978 shares of the asset manager’s stock worth $138,000 after buying an additional 152 shares during the period. Finally, Cetera Investment Advisers increased its position in Affiliated Managers Group by 8.1% in the first quarter. Cetera Investment Advisers now owns 2,173 shares of the asset manager’s stock worth $310,000 after buying an additional 162 shares during the period. 92.89% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Company Profile

(Get Free Report)

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.

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Earnings History for Affiliated Managers Group (NYSE:AMG)

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