Affiliated Managers Group, Inc. (AMG) Expected to Post Quarterly Sales of $608.01 Million

Brokerages expect that Affiliated Managers Group, Inc. (NYSE:AMG) will post $608.01 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Affiliated Managers Group’s earnings. The highest sales estimate is $614.13 million and the lowest is $599.90 million. Affiliated Managers Group posted sales of $544.30 million during the same quarter last year, which suggests a positive year over year growth rate of 11.7%. The company is expected to issue its next earnings results on Monday, May 7th.

According to Zacks, analysts expect that Affiliated Managers Group will report full-year sales of $608.01 million for the current fiscal year, with estimates ranging from $2.50 billion to $2.55 billion. For the next year, analysts anticipate that the firm will report sales of $2.70 billion per share, with estimates ranging from $2.58 billion to $2.77 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Affiliated Managers Group.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, January 29th. The asset manager reported $4.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.55 by $0.13. The company had revenue of $604.10 million during 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 revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.80 EPS.

Several brokerages have recently issued reports on AMG. Zacks Investment Research cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. Deutsche Bank lowered their price objective on shares of Affiliated Managers Group from $215.00 to $213.00 and set a “buy” rating for the company in a research note on Tuesday, March 6th. Barrington Research boosted 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 boosted 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. Finally, Credit Suisse Group reissued a “hold” rating and set a $215.00 price objective on shares of Affiliated Managers Group in a research note on Friday, January 12th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $228.00.

In related news, CFO Jay C. Horgen sold 30,000 shares of the company’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $189.59, for a total transaction of $5,687,700.00. Following the completion of the sale, the chief financial officer now directly owns 114,039 shares of the company’s stock, valued at approximately $21,620,654.01. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in AMG. New York State Common Retirement Fund boosted its position in Affiliated Managers Group by 3.8% during the 3rd quarter. New York State Common Retirement Fund now owns 145,350 shares of the asset manager’s stock worth $27,592,000 after purchasing an additional 5,361 shares during the period. Advisor Group Inc. boosted its position in Affiliated Managers Group by 38.5% during the 3rd quarter. Advisor Group Inc. now owns 1,000 shares of the asset manager’s stock worth $190,000 after purchasing an additional 278 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Affiliated Managers Group by 9.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,797 shares of the asset manager’s stock worth $2,050,000 after purchasing an additional 896 shares during the period. ING Groep NV purchased a new stake in Affiliated Managers Group during the 3rd quarter worth $918,000. Finally, LMR Partners LLP purchased a new stake in Affiliated Managers Group during the 3rd quarter worth $513,000. 96.63% of the stock is owned by hedge funds and other institutional investors.

AMG stock opened at $180.92 on Friday. Affiliated Managers Group has a twelve month low of $148.81 and a twelve month high of $216.99. The firm has a market capitalization of $10,477.44, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 0.69 and a beta of 1.55. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.23.

Affiliated Managers Group announced that its Board of Directors has authorized a share repurchase program on Monday, January 29th that allows the company to buyback 3,400,000 shares. This buyback authorization allows the asset manager to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This is a boost from Affiliated Managers Group’s previous quarterly dividend of $0.20. This represents a $1.20 annualized dividend and a dividend yield of 0.66%. Affiliated Managers Group’s payout ratio is currently 9.94%.

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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.

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

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