What is Zacks Research’s Forecast for AMG FY2024 Earnings?

Affiliated Managers Group, Inc. (NYSE:AMG) – Zacks Research cut their FY2024 earnings per share estimates for Affiliated Managers Group in a research note issued to investors on Thursday, January 2nd. Zacks Research analyst R. Department now anticipates that the asset manager will post earnings per share of $20.89 for the year, down from their prior forecast of $21.01. The consensus estimate for Affiliated Managers Group’s current full-year earnings is $20.91 per share. Zacks Research also issued estimates for Affiliated Managers Group’s Q4 2024 earnings at $6.03 EPS, Q1 2025 earnings at $5.07 EPS, Q2 2025 earnings at $4.90 EPS, Q3 2025 earnings at $5.57 EPS, Q2 2026 earnings at $6.30 EPS and Q3 2026 earnings at $6.74 EPS.

AMG has been the topic of several other reports. The Goldman Sachs Group lowered Affiliated Managers Group from a “buy” rating to a “neutral” rating and reduced their target price for the company from $193.00 to $191.00 in a research report on Monday. TD Cowen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $226.00 to $177.00 in a report on Tuesday, November 5th. Barrington Research lowered 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 research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $195.40.

Affiliated Managers Group Trading Down 2.1 %

Shares of AMG stock opened at $180.40 on Monday. Affiliated Managers Group has a 12-month low of $145.36 and a 12-month high of $199.52. The business’s fifty day simple moving average is $186.07 and its 200-day simple moving average is $177.71. The company has a market cap of $5.45 billion, a PE ratio of 11.77, a PEG ratio of 0.69 and a beta of 1.15.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results 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). Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The firm had revenue of $525.20 million during the quarter, compared to the consensus estimate of $521.87 million. During the same quarter in the prior year, the business posted $4.08 earnings per share. The firm’s quarterly revenue was up 1.7% on a year-over-year basis.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.04 annualized dividend and a yield of 0.02%. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.26%.

Institutional Trading of Affiliated Managers Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Natixis Advisors LLC lifted its position in Affiliated Managers Group by 3.0% during the second quarter. Natixis Advisors LLC now owns 12,473 shares of the asset manager’s stock valued at $1,949,000 after purchasing an additional 368 shares during the period. National Bank of Canada FI boosted its stake in shares of Affiliated Managers Group by 34.2% in the second quarter. National Bank of Canada FI now owns 3,157 shares of the asset manager’s stock worth $489,000 after buying an additional 805 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Affiliated Managers Group by 150.1% during the second quarter. Victory Capital Management Inc. now owns 99,407 shares of the asset manager’s stock worth $15,530,000 after acquiring an additional 59,659 shares during the period. Foundry Partners LLC purchased a new position in Affiliated Managers Group during the second quarter valued at approximately $574,000. Finally, Los Angeles Capital Management LLC lifted its holdings in Affiliated Managers Group by 12.7% in the second quarter. Los Angeles Capital Management LLC now owns 58,659 shares of the asset manager’s stock valued at $9,164,000 after acquiring an additional 6,616 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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.