Affiliated Managers Group, Inc. (NYSE:AMG) – Investment analysts at Jefferies Group upped their Q4 2017 EPS estimates for Affiliated Managers Group in a research note issued on Wednesday, according to Zacks Investment Research. Jefferies Group analyst D. Fannon now forecasts that the asset manager will post earnings per share of $4.50 for the quarter, up from their prior forecast of $4.48. Jefferies Group has a “Buy” rating and a $226.00 price target on the stock. Jefferies Group also issued estimates for Affiliated Managers Group’s Q1 2018 earnings at $3.74 EPS, Q3 2018 earnings at $3.81 EPS and FY2019 earnings at $18.51 EPS.
Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, January 29th. The asset manager reported $4.68 EPS for the quarter, topping the Zacks’ consensus estimate of $4.55 by $0.13. The company had revenue of $604.10 million for the quarter, compared to the consensus estimate of $608.51 million. Affiliated Managers Group had a return on equity of 18.61% and a net margin of 29.92%. Affiliated Managers Group’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.80 earnings per share.
A number of other equities analysts have also recently weighed in on the company. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $229.00 price target on shares of Affiliated Managers Group in a report on Thursday, October 12th. Zacks Investment Research cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Goldman Sachs Group cut Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $216.00 price target for the company. in a report on Tuesday, January 9th. Citigroup upped their target price on Affiliated Managers Group from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Finally, Barrington Research upped their target price on Affiliated Managers Group to $240.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $224.13.
Affiliated Managers Group (AMG) traded down $4.65 on Friday, reaching $197.11. The company’s stock had a trading volume of 450,329 shares, compared to its average volume of 334,758. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.61 and a current ratio of 0.59. The stock has a market capitalization of $10,960.00, a P/E ratio of 16.33, a price-to-earnings-growth ratio of 0.70 and a beta of 1.57. Affiliated Managers Group has a one year low of $148.81 and a one year high of $216.99.
Affiliated Managers Group declared that its board has approved a share repurchase program on Monday, January 29th that permits the company to buyback 3,400,000 outstanding shares. This buyback authorization permits the asset manager to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, February 7th. This is a positive change from Affiliated Managers Group’s previous quarterly dividend of $0.20. This represents a $1.20 annualized dividend and a yield of 0.61%. Affiliated Managers Group’s dividend payout ratio is currently 6.63%.
In other news, CEO Sean M. Healey sold 69,800 shares of the company’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $185.48, for a total value of $12,946,504.00. Following the completion of the sale, the chief executive officer now owns 194,943 shares of the company’s stock, valued at $36,158,027.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Patrick T. Ryan sold 7,705 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $185.27, for a total value of $1,427,505.35. Following the completion of the transaction, the director now directly owns 6,797 shares of the company’s stock, valued at approximately $1,259,280.19. The disclosure for this sale can be found here. Insiders have sold 87,505 shares of company stock valued at $16,350,709 over the last 90 days. 1.40% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Douglas Lane & Associates LLC purchased a new position in Affiliated Managers Group in the third quarter valued at about $200,000. BNP Paribas Arbitrage SA lifted its holdings in Affiliated Managers Group by 31.6% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 35,948 shares of the asset manager’s stock worth $6,824,000 after buying an additional 8,641 shares during the last quarter. Rhumbline Advisers lifted its holdings in Affiliated Managers Group by 2.1% during the 3rd quarter. Rhumbline Advisers now owns 103,393 shares of the asset manager’s stock worth $19,627,000 after buying an additional 2,148 shares during the last quarter. Nomura Holdings Inc. bought a new position in Affiliated Managers Group during the 2nd quarter worth approximately $712,000. Finally, JPMorgan Chase & Co. lifted its holdings in Affiliated Managers Group by 16.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 593,301 shares of the asset manager’s stock worth $112,364,000 after buying an additional 83,018 shares during the last quarter. 95.73% of the stock is owned by hedge funds and other institutional investors.
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About Affiliated Managers Group
Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.
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