Wall Street analysts expect that Affiliated Managers Group, Inc. (NYSE:AMG) will post $3.24 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Affiliated Managers Group’s earnings. The highest EPS estimate is $3.26 and the lowest is $3.22. Affiliated Managers Group reported earnings per share of $3.06 during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.9%. The company is expected to announce its next earnings report on Monday, August 7th.
According to Zacks, analysts expect that Affiliated Managers Group will report full-year earnings of $14.53 per share for the current financial year, with EPS estimates ranging from $14.21 to $15.04. For the next fiscal year, analysts anticipate that the business will post earnings of $16.19 per share, with EPS estimates ranging from $15.64 to $17.39. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Affiliated Managers Group.
Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, May 1st. The asset manager reported $3.21 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.03. Affiliated Managers Group had a return on equity of 17.53% and a net margin of 22.31%. The firm had revenue of $544.30 million for the quarter, compared to analysts’ expectations of $551.56 million. During the same quarter in the prior year, the firm earned $2.94 EPS. Affiliated Managers Group’s quarterly revenue was down .2% on a year-over-year basis.
Several research firms have recently commented on AMG. BidaskClub raised shares of Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Credit Suisse Group reaffirmed a “buy” rating and issued a $207.00 price objective on shares of Affiliated Managers Group in a research note on Sunday, July 9th. Zacks Investment Research cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. ValuEngine raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Finally, Citigroup Inc. cut shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a research note on Monday, June 5th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Affiliated Managers Group has a consensus rating of “Buy” and an average target price of $189.38.
In other Affiliated Managers Group news, Director Dwight D. Churchill sold 3,277 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $163.30, for a total transaction of $535,134.10. Following the sale, the director now directly owns 7,301 shares of the company’s stock, valued at approximately $1,192,253.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sean M. Healey sold 56,928 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $161.07, for a total transaction of $9,169,392.96. Following the sale, the chief executive officer now directly owns 206,689 shares in the company, valued at $33,291,397.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,107 shares of company stock valued at $11,065,554. 1.40% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in shares of Affiliated Managers Group by 3,178.4% in the first quarter. BlackRock Inc. now owns 3,425,390 shares of the asset manager’s stock valued at $561,556,000 after buying an additional 3,320,906 shares in the last quarter. Norges Bank acquired a new position in shares of Affiliated Managers Group during the fourth quarter worth $51,853,000. RidgeWorth Capital Management LLC acquired a new position in shares of Affiliated Managers Group during the first quarter worth $40,387,000. Vanguard Group Inc. raised its position in shares of Affiliated Managers Group by 4.8% in the first quarter. Vanguard Group Inc. now owns 5,303,083 shares of the asset manager’s stock worth $869,387,000 after buying an additional 243,426 shares in the last quarter. Finally, State Street Corp raised its position in shares of Affiliated Managers Group by 8.5% in the first quarter. State Street Corp now owns 2,583,067 shares of the asset manager’s stock worth $423,466,000 after buying an additional 202,802 shares in the last quarter. 94.89% of the stock is currently owned by institutional investors.
Affiliated Managers Group (NYSE AMG) traded up 0.22% during midday trading on Monday, hitting $175.53. The stock had a trading volume of 331,622 shares. The firm has a 50 day moving average price of $158.75 and a 200 day moving average price of $157.85. The stock has a market cap of $9.94 billion, a PE ratio of 19.97 and a beta of 1.64. Affiliated Managers Group has a one year low of $130.48 and a one year high of $176.11.
About Affiliated Managers Group
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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