Affiliated Managers Group (AMG) Updates FY18 Earnings Guidance

Affiliated Managers Group (NYSE:AMG) updated its FY18 earnings guidance on Monday. The company provided EPS guidance of $16.50-18.50 for the period, compared to the Thomson Reuters consensus EPS estimate of $17.39.

Affiliated Managers Group (AMG) opened at $181.19 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.54 and a current ratio of 0.59. Affiliated Managers Group has a fifty-two week low of $148.81 and a fifty-two week high of $216.99. The company has a market cap of $10,018.09, a price-to-earnings ratio of 12.32, a PEG ratio of 0.64 and a beta of 1.57.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, January 29th. The asset manager reported $4.68 EPS for the quarter, beating the consensus estimate of $4.55 by $0.13. Affiliated Managers Group had a net margin of 29.92% and a return on equity of 18.61%. The business had revenue of $604.10 million for the quarter, compared to analysts’ expectations of $608.51 million. During the same period in the previous year, the company posted $3.80 EPS. Affiliated Managers Group’s revenue was up 9.8% on a year-over-year basis. sell-side analysts predict that Affiliated Managers Group will post 17.58 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, February 8th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Wednesday, February 7th. This is a positive change from Affiliated Managers Group’s previous quarterly dividend of $0.20. Affiliated Managers Group’s payout ratio is presently 6.63%.

Affiliated Managers Group announced that its board has initiated a stock repurchase plan on Monday, January 29th that allows the company to repurchase 3,400,000 shares. This repurchase authorization allows the asset manager to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Several equities research analysts recently issued reports on the stock. Barrington Research lifted their price objective on shares of 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. Citigroup lifted their price objective on shares of Affiliated Managers Group from $250.00 to $260.00 and gave the company a buy rating in a research note on Tuesday, January 30th. Credit Suisse Group reissued a hold rating and set a $215.00 target price on shares of Affiliated Managers Group in a research report on Friday, January 12th. Zacks Investment Research raised shares of Affiliated Managers Group from a hold rating to a buy rating and set a $225.00 target price for the company in a research report on Tuesday, January 9th. Finally, Goldman Sachs Group lowered shares of Affiliated Managers Group from a buy rating to a neutral rating and set a $216.00 target price for the company. in a research report on Tuesday, January 9th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of Buy and an average price target of $224.13.

In related news, CEO Sean M. Healey sold 69,800 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $185.48, for a total value of $12,946,504.00. Following the sale, the chief executive officer now owns 194,943 shares of the company’s stock, valued at $36,158,027.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Peter W. Macewen sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $197.67, for a total transaction of $1,976,700.00. Following the completion of the sale, the insider now directly owns 37,682 shares in the company, valued at approximately $7,448,600.94. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

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Affiliated Managers Group Company Profile

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.

Earnings History and Estimates for Affiliated Managers Group (NYSE:AMG)

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