Affiliated Managers Group (NYSE:AMG) Issues Earnings Results

Affiliated Managers Group (NYSE:AMG) posted its quarterly earnings data on Monday. The asset manager reported $4.82 earnings per share for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02), Briefing.com reports. The company had revenue of $525.20 million for the quarter, compared to analyst estimates of $521.87 million. Affiliated Managers Group had a return on equity of 16.50% and a net margin of 31.51%. The business’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.08 earnings per share. Affiliated Managers Group updated its Q4 guidance to $5.94-6.17 EPS.

Affiliated Managers Group Trading Up 0.3 %

Shares of AMG opened at $177.65 on Wednesday. Affiliated Managers Group has a 12-month low of $129.57 and a 12-month high of $199.52. The firm has a 50-day moving average price of $180.43 and a 200 day moving average price of $168.81. The firm has a market capitalization of $5.30 billion, a P/E ratio of 10.43, a P/E/G ratio of 0.62 and a beta of 1.18.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date is Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio is currently 0.23%.

Insider Activity at Affiliated Managers Group

In related news, COO Thomas M. Wojcik sold 4,786 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $172.71, for a total value of $826,590.06. Following the completion of the sale, the chief operating officer now owns 84,392 shares of the company’s stock, valued at approximately $14,575,342.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Affiliated Managers Group news, insider Rizwan M. Jamal sold 8,622 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $172.89, for a total transaction of $1,490,657.58. Following the completion of the transaction, the insider now owns 128,457 shares of the company’s stock, valued at $22,208,930.73. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Thomas M. Wojcik sold 4,786 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $172.71, for a total transaction of $826,590.06. Following the transaction, the chief operating officer now directly owns 84,392 shares of the company’s stock, valued at approximately $14,575,342.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,408 shares of company stock valued at $3,865,068. 1.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Bank of America upped their price objective on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. TD Cowen lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $226.00 to $177.00 in a report on Tuesday. StockNews.com lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Barrington Research dropped their target price on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Affiliated Managers Group from $219.00 to $204.00 and set a “buy” rating for the company in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Affiliated Managers Group presently has a consensus rating of “Hold” and an average price target of $195.50.

Affiliated Managers Group Company Profile

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.