Affiliated Managers Group (NYSE:AMG) Releases Q4 Earnings Guidance

Affiliated Managers Group (NYSE:AMG) updated its fourth quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $5.94-6.17 for the period, compared to the consensus estimate of $7.26.

Wall Street Analyst Weigh In

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

Affiliated Managers Group Price Performance

Shares of AMG stock traded up $11.78 during trading hours on Wednesday, reaching $189.54. 55,744 shares of the stock were exchanged, compared to its average volume of 240,909. Affiliated Managers Group has a 12-month low of $129.57 and a 12-month high of $199.52. The business’s fifty day moving average is $180.43 and its two-hundred day moving average is $168.81. The firm has a market capitalization of $5.65 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 (NYSE:AMG) last announced its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 earnings per share for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). The firm had revenue of $525.20 million during the quarter, compared to analyst estimates of $521.87 million. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. Affiliated Managers Group’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.08 earnings per share. As a group, equities research analysts predict that Affiliated Managers Group will post 22.02 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

Insider Transactions at Affiliated Managers Group

In other news, CEO Jay C. Horgen sold 9,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $171.98, for a total value of $1,547,820.00. Following the completion of the transaction, the chief executive officer now owns 377,276 shares in the company, valued at approximately $64,883,926.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, COO Thomas M. Wojcik sold 4,786 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $172.71, for a total transaction of $826,590.06. Following the completion of the sale, the chief operating officer now owns 84,392 shares in the company, valued at $14,575,342.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jay C. Horgen sold 9,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $171.98, for a total transaction of $1,547,820.00. Following the completion of the sale, the chief executive officer now owns 377,276 shares of the company’s stock, valued at $64,883,926.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,408 shares of company stock valued at $3,865,068. Corporate insiders own 1.90% of the company’s stock.

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.