Affiliated Managers Group (NYSE:AMG) – Equities researchers at Jefferies Group lifted their Q1 2018 earnings per share (EPS) estimates for shares of Affiliated Managers Group in a research report issued to clients and investors on Wednesday, April 11th. Jefferies Group analyst D. Fannon now forecasts that the asset manager will post earnings per share of $3.88 for the quarter, up from their prior forecast of $3.74. Jefferies Group currently has a “Buy” rating and a $226.00 target price on the stock. Jefferies Group also issued estimates for Affiliated Managers Group’s Q3 2018 earnings at $3.96 EPS, Q1 2019 earnings at $4.27 EPS, Q2 2019 earnings at $4.31 EPS, Q3 2019 earnings at $4.36 EPS, Q4 2019 earnings at $6.08 EPS and FY2019 earnings at $19.02 EPS.
A number of other analysts have also recently issued reports on AMG. Keefe, Bruyette & Woods cut Affiliated Managers Group from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $250.00 to $206.00 in a report on Wednesday. ValuEngine cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Zacks Investment Research cut Affiliated Managers Group from a “hold” rating to a “sell” rating in a report on Tuesday, April 3rd. Deutsche Bank boosted their target price on Affiliated Managers Group from $213.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, April 6th. Finally, Credit Suisse Group cut Affiliated Managers Group from an “outperform” rating to a “neutral” rating and set a $220.00 target price for the company. in a report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Affiliated Managers Group currently has an average rating of “Hold” and an average target price of $225.38.
Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, January 29th. The asset manager reported $4.68 earnings per share (EPS) for the quarter, topping 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 business had revenue of $604.10 million during the quarter, compared to analysts’ expectations of $608.51 million. During the same quarter in the previous year, the business earned $3.80 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMG. Schroder Investment Management Group boosted its holdings in Affiliated Managers Group by 95.2% in the 4th quarter. Schroder Investment Management Group now owns 820,584 shares of the asset manager’s stock worth $168,425,000 after acquiring an additional 400,122 shares during the period. Jane Street Group LLC boosted its holdings in Affiliated Managers Group by 101.1% in the 3rd quarter. Jane Street Group LLC now owns 3,939 shares of the asset manager’s stock worth $748,000 after acquiring an additional 366,268 shares during the period. Deutsche Bank AG boosted its holdings in Affiliated Managers Group by 59.8% in the 4th quarter. Deutsche Bank AG now owns 663,082 shares of the asset manager’s stock worth $136,090,000 after acquiring an additional 248,112 shares during the period. Atlanta Capital Management Co. L L C boosted its holdings in Affiliated Managers Group by 6.1% in the 4th quarter. Atlanta Capital Management Co. L L C now owns 2,052,330 shares of the asset manager’s stock worth $421,240,000 after acquiring an additional 117,377 shares during the period. Finally, Amundi Pioneer Asset Management Inc. boosted its holdings in Affiliated Managers Group by 14.1% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 815,276 shares of the asset manager’s stock worth $167,335,000 after acquiring an additional 100,760 shares during the period. Hedge funds and other institutional investors own 96.65% of the company’s stock.
In other Affiliated Managers Group news, CFO Jay C. Horgen sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $189.59, for a total value of $5,687,700.00. Following the completion of the transaction, the chief financial officer now owns 114,039 shares in the company, valued at approximately $21,620,654.01. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is owned by corporate insiders.
Affiliated Managers Group declared that its Board of Directors has initiated a share buyback plan on Monday, January 29th that allows the company to repurchase 3,400,000 outstanding shares. This repurchase authorization allows the asset manager to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
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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