Analysts expect Affiliated Managers Group, Inc. (NYSE:AMG) to post $605.75 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Affiliated Managers Group’s earnings. The highest sales estimate is $611.06 million and the lowest is $601.20 million. Affiliated Managers Group posted sales of $550.30 million during the same quarter last year, which suggests a positive year over year growth rate of 10.1%. The company is expected to issue its next quarterly earnings results on Monday, January 29th.
According to Zacks, analysts expect that Affiliated Managers Group will report full-year sales of $605.75 million for the current year, with estimates ranging from $2.30 billion to $2.32 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.47 billion per share, with estimates ranging from $2.41 billion to $2.56 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Affiliated Managers Group.
Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, October 30th. The asset manager reported $3.41 EPS for the quarter, topping the Zacks’ consensus estimate of $3.36 by $0.05. The company had revenue of $585.70 million for the quarter, compared to analysts’ expectations of $586.55 million. Affiliated Managers Group had a return on equity of 17.63% and a net margin of 23.29%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business posted $3.02 EPS.
A number of equities research analysts have recently commented on AMG shares. Jefferies Group reiterated a “buy” rating and set a $200.00 target price on shares of Affiliated Managers Group in a research note on Friday, August 18th. Zacks Investment Research upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $213.00 target price on the stock in a research note on Monday, October 2nd. Barrington Research reiterated an “outperform” rating and set a $215.00 target price on shares of Affiliated Managers Group in a research note on Wednesday, October 4th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $229.00 target price on shares of Affiliated Managers Group in a research note on Thursday, October 12th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Affiliated Managers Group presently has a consensus rating of “Buy” and a consensus price target of $207.25.
In related news, insider Peter W. Macewen sold 10,000 shares of the business’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $197.67, for a total value of $1,976,700.00. Following the sale, the insider now directly owns 37,682 shares in the company, valued at approximately $7,448,600.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dwight D. Churchill sold 2,080 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $184.28, for a total value of $383,302.40. Following the sale, the director now owns 6,104 shares in the company, valued at $1,124,845.12. The disclosure for this sale can be found here. Insiders sold a total of 89,585 shares of company stock worth $16,734,012 over the last 90 days. 1.40% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Douglas Lane & Associates LLC bought a new stake in shares of Affiliated Managers Group during the third quarter valued at about $200,000. Schroder Investment Management Group increased its position in shares of Affiliated Managers Group by 8.3% during the second quarter. Schroder Investment Management Group now owns 383,937 shares of the asset manager’s stock valued at $63,353,000 after buying an additional 29,297 shares during the period. Nomura Holdings Inc. bought a new stake in shares of Affiliated Managers Group during the second quarter valued at about $712,000. BNP Paribas Arbitrage SA increased its position in shares of Affiliated Managers Group by 31.6% during the third quarter. BNP Paribas Arbitrage SA now owns 35,948 shares of the asset manager’s stock valued at $6,824,000 after buying an additional 8,641 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Affiliated Managers Group by 2.1% during the third quarter. Rhumbline Advisers now owns 103,393 shares of the asset manager’s stock valued at $19,627,000 after buying an additional 2,148 shares during the period. Hedge funds and other institutional investors own 95.93% of the company’s stock.
Shares of Affiliated Managers Group (NYSE:AMG) opened at $198.00 on Tuesday. The company has a market capitalization of $11,070.00, a price-to-earnings ratio of 14.58, a PEG ratio of 0.94 and a beta of 1.71. Affiliated Managers Group has a 52 week low of $139.52 and a 52 week high of $202.09. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.61.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Thursday, November 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Wednesday, November 8th. Affiliated Managers Group’s dividend payout ratio is currently 8.66%.
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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