Affiliated Managers Group Inc. (NYSE:AMG) – Jefferies Group reduced their FY2016 earnings per share (EPS) estimates for shares of Affiliated Managers Group in a note issued to investors on Tuesday. Jefferies Group analyst D. Fannon now anticipates that the brokerage will post earnings of $12.87 per share for the year, down from their previous forecast of $13.08. Jefferies Group currently has a “Buy” rating and a $193.00 target price on the stock. Jefferies Group also issued estimates for Affiliated Managers Group’s Q4 2016 earnings at $3.83 EPS, Q1 2017 earnings at $3.26 EPS, Q2 2017 earnings at $3.40 EPS, Q3 2017 earnings at $3.36 EPS, Q4 2017 earnings at $4.86 EPS and FY2017 earnings at $14.86 EPS.
Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, August 1st. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $3.01 by $0.05. Affiliated Managers Group had a net margin of 20.47% and a return on equity of 18.39%. The firm earned $646.60 million during the quarter, compared to analyst estimates of $565.16 million. During the same period in the previous year, the business posted $3.08 earnings per share. The business’s revenue for the quarter was down 14.3% on a year-over-year basis.
A number of other research analysts have also recently commented on the stock. Zacks Investment Research cut shares of Affiliated Managers Group from a “hold” rating to a “sell” rating in a report on Tuesday, September 20th. Keefe, Bruyette & Woods lowered their price objective on shares of Affiliated Managers Group from $215.00 to $196.00 and set an “outperform” rating for the company in a research note on Tuesday, August 2nd. TheStreet lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Friday, June 24th. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $212.00 price objective on shares of Affiliated Managers Group in a research note on Thursday, September 8th. Finally, Capital One Financial Corp. reaffirmed a “buy” rating and issued a $188.00 price objective on shares of Affiliated Managers Group in a research note on Wednesday, October 5th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Affiliated Managers Group currently has an average rating of “Buy” and a consensus price target of $179.75.
Shares of Affiliated Managers Group (NYSE:AMG) opened at 145.81 on Wednesday. The stock has a 50 day moving average of $145.00 and a 200-day moving average of $153.41. Affiliated Managers Group has a 52 week low of $115.97 and a 52 week high of $190.74. The company has a market capitalization of $7.86 billion, a price-to-earnings ratio of 16.96 and a beta of 1.56.
Several institutional investors have recently bought and sold shares of the stock. Commonwealth Equity Services Inc bought a new position in Affiliated Managers Group during the first quarter valued at about $449,000. NN Investment Partners Holdings N.V. bought a new position in Affiliated Managers Group during the first quarter valued at about $1,343,000. Bessemer Group Inc. bought a new position in Affiliated Managers Group during the first quarter valued at about $222,000. Royce & Associates LP increased its position in Affiliated Managers Group by 169.0% in the first quarter. Royce & Associates LP now owns 8,730 shares of the company’s stock valued at $1,418,000 after buying an additional 5,485 shares during the period. Finally, M&T Bank Corp increased its position in Affiliated Managers Group by 17.7% in the first quarter. M&T Bank Corp now owns 13,023 shares of the company’s stock valued at $2,114,000 after buying an additional 1,961 shares during the period.
About Affiliated Managers Group
Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms (Affiliates). The Company is focused on investing in the boutique investment management firms globally, including traditional, alternative and wealth management firms, specializing in an array of active return-oriented investment strategies.
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