Affiliated Managers Group (NYSE:AMG) Announces Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Affiliated Managers Group (NYSE:AMG) announced its earnings results on Monday. The asset manager reported $5.37 earnings per share for the quarter, beating the consensus estimate of $5.21 by $0.16, Yahoo Finance reports. Affiliated Managers Group had a return on equity of 16.29% and a net margin of 32.71%. The business had revenue of $499.90 million during the quarter, compared to analysts’ expectations of $524.53 million. During the same quarter last year, the business posted $4.18 earnings per share. Affiliated Managers Group updated its Q2 guidance to $4.50-$4.60 EPS.

Affiliated Managers Group Stock Up 0.4 %

Shares of NYSE AMG opened at $157.44 on Thursday. Affiliated Managers Group has a 12 month low of $120.22 and a 12 month high of $169.65. The company has a market cap of $5.11 billion, a price-to-earnings ratio of 9.04, a P/E/G ratio of 0.56 and a beta of 1.31. The business has a fifty day simple moving average of $161.51 and a 200-day simple moving average of $150.05.

Affiliated Managers Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, May 15th. Affiliated Managers Group’s dividend payout ratio is 0.23%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. TD Cowen decreased their target price on Affiliated Managers Group from $218.00 to $198.00 and set a “buy” rating for the company in a research note on Tuesday. Barrington Research reaffirmed an “outperform” rating and set a $190.00 target price on shares of Affiliated Managers Group in a report on Tuesday.

About Affiliated Managers Group

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.