Affiliated Managers Group, Inc. (AMG) Expected to Post Quarterly Sales of $604.20 Million

Brokerages expect Affiliated Managers Group, Inc. (NYSE:AMG) to post sales of $604.20 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Affiliated Managers Group’s earnings. The lowest sales estimate is $601.20 million and the highest is $606.40 million. Affiliated Managers Group posted sales of $550.30 million in the same quarter last year, which suggests a positive year over year growth rate of 9.8%. The firm is expected to issue its next quarterly earnings results on Monday, January 29th.

On average, analysts expect that Affiliated Managers Group will report full year sales of $604.20 million for the current fiscal year, with estimates ranging from $2.30 billion to $2.31 billion. For the next year, analysts anticipate that the company will report sales of $2.47 billion per share, with estimates ranging from $2.41 billion to $2.55 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Affiliated Managers Group.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, October 30th. The asset manager reported $3.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.36 by $0.05. The business had revenue of $585.70 million for the quarter, compared to analysts’ expectations of $586.55 million. Affiliated Managers Group had a net margin of 23.29% and a return on equity of 17.63%. The business’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.02 earnings per share.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $225.00 price objective on the stock in a report on Tuesday, January 9th. Credit Suisse Group cut shares of Affiliated Managers Group from an “outperform” rating to a “neutral” rating and set a $220.00 price objective on the stock. in a report on Wednesday, January 3rd. Goldman Sachs Group cut shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $216.00 price objective on the stock. in a report on Tuesday, January 9th. Barrington Research restated an “outperform” rating and issued a $215.00 price objective on shares of Affiliated Managers Group in a report on Wednesday, October 4th. They noted that the move was a valuation call. Finally, Jefferies Group restated a “buy” rating and issued a $226.00 price objective on shares of Affiliated Managers Group in a report on Thursday, October 12th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Affiliated Managers Group has an average rating of “Buy” and a consensus target price of $211.00.

Shares of Affiliated Managers Group (AMG) traded up $0.21 on Tuesday, reaching $203.01. 387,241 shares of the company’s stock were exchanged, compared to its average volume of 292,200. The stock has a market capitalization of $11,272.01, a PE ratio of 21.97, a PEG ratio of 0.73 and a beta of 1.71. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. Affiliated Managers Group has a twelve month low of $139.52 and a twelve month high of $207.67.

In other news, insider Peter W. Macewen sold 10,000 shares of the stock in a transaction that occurred 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 owns 37,682 shares in the company, valued at $7,448,600.94. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sean M. Healey sold 69,800 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $185.48, for a total transaction of $12,946,504.00. Following the sale, the chief executive officer now owns 194,943 shares in the company, valued at approximately $36,158,027.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,585 shares of company stock worth $16,734,012. Corporate insiders own 1.40% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Affiliated Managers Group by 5.1% during the second quarter. Vanguard Group Inc. now owns 5,574,012 shares of the asset manager’s stock valued at $924,505,000 after buying an additional 270,929 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Affiliated Managers Group by 60.9% during the second quarter. The Manufacturers Life Insurance Company now owns 3,591,358 shares of the asset manager’s stock valued at $595,663,000 after purchasing an additional 1,359,805 shares during the period. State Street Corp lifted its position in Affiliated Managers Group by 6.7% during the second quarter. State Street Corp now owns 2,757,345 shares of the asset manager’s stock valued at $457,334,000 after purchasing an additional 174,278 shares during the period. Atlanta Capital Management Co. L L C lifted its position in Affiliated Managers Group by 0.6% during the second quarter. Atlanta Capital Management Co. L L C now owns 1,973,612 shares of the asset manager’s stock valued at $327,343,000 after purchasing an additional 10,982 shares during the period. Finally, FMR LLC lifted its position in Affiliated Managers Group by 33.8% during the second quarter. FMR LLC now owns 1,146,357 shares of the asset manager’s stock valued at $190,134,000 after purchasing an additional 289,885 shares during the period. Hedge funds and other institutional investors own 95.52% of the company’s stock.

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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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