Wall Street brokerages expect Affiliated Managers Group (NYSE:AMG) to report $3.88 earnings per share for the current quarter, Zacks reports. Three analysts have issued estimates for Affiliated Managers Group’s earnings, with estimates ranging from $3.86 to $3.90. Affiliated Managers Group reported earnings per share of $3.21 during the same quarter last year, which would indicate a positive year over year growth rate of 20.9%. The company is scheduled to report its next quarterly earnings report on Monday, May 7th.
According to Zacks, analysts expect that Affiliated Managers Group will report full year earnings of $16.92 per share for the current financial year, with EPS estimates ranging from $16.33 to $17.66. For the next year, analysts anticipate that the business will report earnings of $18.77 per share, with EPS estimates ranging from $18.50 to $19.02. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Affiliated Managers Group.
Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, January 29th. The asset manager reported $4.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.55 by $0.13. Affiliated Managers Group had a return on equity of 18.61% and a net margin of 29.92%. The company had revenue of $604.10 million during the quarter, compared to analyst estimates of $608.51 million. During the same period last year, the company posted $3.80 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year.
A number of brokerages have recently weighed in on AMG. Barrington Research raised 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. Citigroup upgraded Affiliated Managers Group from a “neutral” rating to a “buy” rating in a research report on Friday, January 19th. Zacks Investment Research upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $230.00 price objective for the company in a research report on Tuesday, January 2nd. Credit Suisse Group lowered Affiliated Managers Group from an “outperform” rating to a “neutral” rating and set a $220.00 price objective for the company. in a research report on Wednesday, January 3rd. Finally, Goldman Sachs lowered Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $216.00 price objective for the company. in a research report on Tuesday, January 9th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $225.38.
In other Affiliated Managers Group news, CFO Jay C. Horgen sold 30,000 shares of the firm’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $189.59, for a total transaction of $5,687,700.00. Following the transaction, the chief financial officer now owns 114,039 shares in the company, valued at $21,620,654.01. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.40% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Waldron LP bought a new position in Affiliated Managers Group during the fourth quarter worth about $201,000. IFM Investors Pty Ltd bought a new position in Affiliated Managers Group during the fourth quarter worth about $201,000. Canandaigua National Bank & Trust Co. bought a new position in Affiliated Managers Group during the fourth quarter worth about $204,000. Schaper Benz & Wise Investment Counsel Inc. WI bought a new position in Affiliated Managers Group during the fourth quarter worth about $205,000. Finally, Gofen & Glossberg LLC IL bought a new position in Affiliated Managers Group during the fourth quarter worth about $206,000. Hedge funds and other institutional investors own 96.65% of the company’s stock.
Shares of NYSE:AMG traded down $4.06 during midday trading on Friday, reaching $169.25. The company’s stock had a trading volume of 618,721 shares, compared to its average volume of 427,202. Affiliated Managers Group has a fifty-two week low of $148.81 and a fifty-two week high of $216.99. The firm has a market cap of $9,444.74, a PE ratio of 11.59, a price-to-earnings-growth ratio of 0.73 and a beta of 1.51. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.59 and a current ratio of 0.59.
Affiliated Managers Group announced that its Board of Directors has approved a share buyback program on Monday, January 29th that permits the company to repurchase 3,400,000 shares. This repurchase authorization permits the asset manager to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
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Affiliated Managers Group Company Profile
Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.
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