Q2 2024 Earnings Forecast for Affiliated Managers Group, Inc. Issued By Barrington Research (NYSE:AMG)

Affiliated Managers Group, Inc. (NYSE:AMG) – Analysts at Barrington Research dropped their Q2 2024 earnings per share estimates for Affiliated Managers Group in a report issued on Monday, May 6th. Barrington Research analyst A. Paris now forecasts that the asset manager will post earnings of $4.80 per share for the quarter, down from their previous estimate of $4.85. Barrington Research has a “Outperform” rating and a $190.00 price target on the stock. The consensus estimate for Affiliated Managers Group’s current full-year earnings is $22.03 per share. Barrington Research also issued estimates for Affiliated Managers Group’s Q3 2024 earnings at $4.85 EPS, Q4 2024 earnings at $7.22 EPS, FY2024 earnings at $22.25 EPS and FY2025 earnings at $24.25 EPS.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, May 6th. The asset manager reported $5.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.21 by $0.16. The firm had revenue of $499.90 million during the quarter, compared to the consensus estimate of $524.53 million. Affiliated Managers Group had a return on equity of 16.29% and a net margin of 32.71%. During the same quarter in the previous year, the business earned $4.18 earnings per share.

Separately, TD Cowen decreased their price objective on Affiliated Managers Group from $218.00 to $198.00 and set a “buy” rating for the company in a report on Tuesday.

Affiliated Managers Group Stock Performance

NYSE:AMG opened at $156.88 on Thursday. The stock has a market cap of $5.09 billion, a price-to-earnings ratio of 9.04, a price-to-earnings-growth ratio of 0.56 and a beta of 1.31. Affiliated Managers Group has a one year low of $120.22 and a one year high of $169.65. The business’s 50-day simple moving average is $161.51 and its 200 day simple moving average is $150.05.

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Wednesday, May 15th. Affiliated Managers Group’s payout ratio is 0.23%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AMG. Lindbrook Capital LLC increased its position in shares of Affiliated Managers Group by 80.0% during the 4th quarter. Lindbrook Capital LLC now owns 162 shares of the asset manager’s stock worth $25,000 after purchasing an additional 72 shares during the last quarter. Denali Advisors LLC increased its stake in Affiliated Managers Group by 429.2% during the 1st quarter. Denali Advisors LLC now owns 254 shares of the asset manager’s stock worth $43,000 after acquiring an additional 206 shares during the period. GAMMA Investing LLC acquired a new position in Affiliated Managers Group in the fourth quarter valued at about $62,000. Quadrant Capital Group LLC raised its stake in Affiliated Managers Group by 45.6% in the fourth quarter. Quadrant Capital Group LLC now owns 591 shares of the asset manager’s stock valued at $89,000 after purchasing an additional 185 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Affiliated Managers Group by 17.1% in the fourth quarter. Blue Trust Inc. now owns 617 shares of the asset manager’s stock valued at $93,000 after purchasing an additional 90 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

About Affiliated Managers Group

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.