Equities research analysts forecast that Affiliated Managers Group, Inc. (NYSE:AMG) will report $608.01 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Affiliated Managers Group’s earnings, with estimates ranging from $599.90 million to $614.13 million. Affiliated Managers Group reported sales of $544.30 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 11.7%. The business is expected to announce its next earnings results on Monday, May 7th.
On average, 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 business will report sales of $2.70 billion per share, with estimates ranging from $2.58 billion to $2.77 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Affiliated Managers Group.
Affiliated Managers Group (NYSE:AMG) last released 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 analysts’ expectations of $608.51 million. Affiliated Managers Group had a net margin of 29.92% and a return on equity of 18.61%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.80 earnings per share.
Several research firms have recently weighed in on AMG. Zacks Investment Research cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Goldman Sachs Group cut shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $216.00 price target for the company. in a report on Tuesday, January 9th. Citigroup upped their price target on shares of Affiliated Managers Group from $250.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Barrington Research upped their price target on shares of Affiliated Managers Group to $240.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. They noted that the move was a valuation call. Finally, Credit Suisse Group cut shares of Affiliated Managers Group from an “outperform” rating to a “neutral” rating and set a $220.00 price target for the company. in a report on Wednesday, January 3rd. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $228.25.
Affiliated Managers Group (AMG) opened at $191.79 on Friday. The firm has a market cap of $10,576.68, a P/E ratio of 15.89, a PEG ratio of 0.68 and a beta of 1.57. Affiliated Managers Group has a 1-year low of $148.81 and a 1-year high of $216.99. The company has a quick ratio of 0.54, a current ratio of 0.59 and a debt-to-equity ratio of 0.23.
Affiliated Managers Group announced that its board has initiated a stock buyback program on Monday, January 29th that permits the company to buyback 3,400,000 outstanding shares. This buyback authorization permits the asset manager to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, February 8th will be issued a dividend of $0.30 per share. This is a boost from Affiliated Managers Group’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, February 7th. This represents a $1.20 annualized dividend and a yield of 0.63%. Affiliated Managers Group’s dividend payout ratio is presently 6.63%.
In other Affiliated Managers Group news, insider Peter W. Macewen sold 10,000 shares of the company’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $197.67, for a total transaction of $1,976,700.00. Following the sale, the insider now directly owns 37,682 shares of the company’s stock, valued at $7,448,600.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of AMG. Amundi Pioneer Asset Management Inc. raised its position in Affiliated Managers Group by 156.0% during the third quarter. Amundi Pioneer Asset Management Inc. now owns 714,516 shares of the asset manager’s stock worth $135,637,000 after acquiring an additional 435,440 shares in the last quarter. Schroder Investment Management Group raised its position in Affiliated Managers Group by 95.2% during the fourth 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 in the last quarter. Jane Street Group LLC raised its position in Affiliated Managers Group by 101.1% during the third 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 in the last quarter. Deutsche Bank AG raised its position in shares of Affiliated Managers Group by 59.8% in the fourth quarter. Deutsche Bank AG now owns 663,082 shares of the asset manager’s stock valued at $136,090,000 after purchasing an additional 248,112 shares during the period. Finally, Atlanta Capital Management Co. L L C raised its position in shares of Affiliated Managers Group by 6.1% in the fourth quarter. Atlanta Capital Management Co. L L C now owns 2,052,330 shares of the asset manager’s stock valued at $421,240,000 after purchasing an additional 117,377 shares during the period. 94.81% of the stock is currently owned by hedge funds and other institutional investors.
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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