Affiliated Managers Group, Inc. (AMG) Expected to Post Earnings of $3.76 Per Share

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Wall Street analysts expect Affiliated Managers Group, Inc. (NYSE:AMG) to announce earnings of $3.76 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Affiliated Managers Group’s earnings, with the highest EPS estimate coming in at $3.91 and the lowest estimate coming in at $3.65. Affiliated Managers Group reported earnings per share of $4.68 during the same quarter last year, which suggests a negative year over year growth rate of 19.7%. The company is scheduled to report its next earnings report on Monday, February 4th.

On average, analysts expect that Affiliated Managers Group will report full year earnings of $14.75 per share for the current financial year, with EPS estimates ranging from $14.63 to $14.90. For the next fiscal year, analysts anticipate that the firm will report earnings of $15.61 per share, with EPS estimates ranging from $14.78 to $16.15. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Affiliated Managers Group.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, October 29th. The asset manager reported $3.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.42 by $0.03. Affiliated Managers Group had a return on equity of 19.37% and a net margin of 29.38%. The business had revenue of $601.30 million during the quarter, compared to analyst estimates of $604.82 million. During the same quarter last year, the company posted $3.41 EPS. Affiliated Managers Group’s revenue for the quarter was up 2.7% on a year-over-year basis.

A number of equities analysts recently weighed in on AMG shares. Deutsche Bank decreased their price target on Affiliated Managers Group from $195.00 to $191.00 and set a “buy” rating for the company in a research report on Thursday, August 16th. Zacks Investment Research upgraded Affiliated Managers Group from a “sell” rating to a “hold” rating in a research report on Friday, September 21st. Barrington Research decreased their price target on Affiliated Managers Group from $200.00 to $150.00 and set an “outperform” rating for the company in a research report on Monday, October 29th. Citigroup decreased their price target on Affiliated Managers Group from $195.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, October 30th. Finally, Bank of America reiterated a “buy” rating and issued a $130.00 price target (down previously from $155.00) on shares of Affiliated Managers Group in a research report on Thursday. Two analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $183.11.

In other Affiliated Managers Group news, Director Patrick T. Ryan sold 2,034 shares of the firm’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $112.78, for a total transaction of $229,394.52. Following the completion of the sale, the director now directly owns 14,821 shares in the company, valued at approximately $1,671,512.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Hugh Cutler acquired 1,564 shares of the firm’s stock in a transaction on Wednesday, October 31st. The shares were acquired at an average price of $115.48 per share, with a total value of $180,610.72. Following the completion of the transaction, the executive vice president now directly owns 7,087 shares in the company, valued at approximately $818,406.76. The disclosure for this purchase can be found here. Company insiders own 0.91% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Zions Bancorporation purchased a new stake in shares of Affiliated Managers Group during the 3rd quarter worth about $170,000. Trust Co. of Toledo NA OH purchased a new stake in shares of Affiliated Managers Group during the 3rd quarter worth about $202,000. Candriam Luxembourg S.C.A. purchased a new stake in shares of Affiliated Managers Group during the 3rd quarter worth about $204,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Affiliated Managers Group during the 3rd quarter worth about $223,000. Finally, Alta Capital Management LLC purchased a new stake in shares of Affiliated Managers Group during the 3rd quarter worth about $227,000. Hedge funds and other institutional investors own 92.19% of the company’s stock.

Shares of NYSE:AMG traded down $3.52 during midday trading on Friday, reaching $103.04. The company had a trading volume of 1,061,362 shares, compared to its average volume of 479,399. The company has a quick ratio of 0.42, a current ratio of 0.49 and a debt-to-equity ratio of 0.07. Affiliated Managers Group has a 1-year low of $101.34 and a 1-year high of $216.99. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of 7.06, a price-to-earnings-growth ratio of 0.59 and a beta of 1.53.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 21st. Shareholders of record on Thursday, November 8th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, November 7th. This represents a $1.20 dividend on an annualized basis and a yield of 1.16%. Affiliated Managers Group’s payout ratio is presently 8.22%.

About Affiliated Managers Group

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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