Wall Street analysts predict that Affiliated Managers Group, Inc. (NYSE:AMG) will report sales of $533.73 million for the current quarter, according to Zacks. Three analysts have made estimates for Affiliated Managers Group’s earnings. The lowest sales estimate is $509.70 million and the highest is $550.00 million. Affiliated Managers Group reported sales of $543.10 million during the same quarter last year, which indicates a negative year-over-year growth rate of 1.7%. The firm is expected to report its next quarterly earnings results on Monday, May 4th.
According to Zacks, analysts expect that Affiliated Managers Group will report full-year sales of $2.14 billion for the current fiscal year, with estimates ranging from $2.00 billion to $2.22 billion. For the next year, analysts forecast that the firm will post sales of $2.09 billion, with estimates ranging from $1.95 billion to $2.23 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Affiliated Managers Group.
Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, February 3rd. The asset manager reported $4.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.03 by $0.49. The firm had revenue of $555.50 million for the quarter, compared to the consensus estimate of $537.57 million. Affiliated Managers Group had a net margin of 0.70% and a return on equity of 19.58%. During the same period last year, the firm posted $3.53 EPS.
AMG has been the topic of several recent research reports. Credit Suisse Group lifted their price objective on shares of Affiliated Managers Group from $91.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Barrington Research reiterated a “buy” rating and issued a $100.00 price objective on shares of Affiliated Managers Group in a research report on Tuesday, February 4th. Deutsche Bank cut their price objective on shares of Affiliated Managers Group from $92.00 to $90.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Finally, ValuEngine upgraded shares of Affiliated Managers Group from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $87.17.
NYSE:AMG traded up $0.37 during mid-day trading on Tuesday, hitting $82.90. The stock had a trading volume of 277,400 shares, compared to its average volume of 552,081. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 202.20, a P/E/G ratio of 0.56 and a beta of 1.69. The company has a 50 day simple moving average of $83.15 and a 200-day simple moving average of $81.91. Affiliated Managers Group has a 52 week low of $71.08 and a 52 week high of $115.75. The company has a current ratio of 1.60, a quick ratio of 1.51 and a debt-to-equity ratio of 0.51.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.54%. Affiliated Managers Group’s dividend payout ratio (DPR) is 9.00%.
In other Affiliated Managers Group news, Director Jide James Zeitlin sold 2,665 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $83.94, for a total transaction of $223,700.10. Following the sale, the director now directly owns 23,939 shares in the company, valued at approximately $2,009,439.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Patrick T. Ryan sold 3,411 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $84.38, for a total transaction of $287,820.18. Following the sale, the director now owns 16,680 shares in the company, valued at $1,407,458.40. The disclosure for this sale can be found here. 1.43% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in AMG. Hi Line Capital Management LLC raised its holdings in shares of Affiliated Managers Group by 0.3% in the 3rd quarter. Hi Line Capital Management LLC now owns 45,084 shares of the asset manager’s stock worth $3,758,000 after purchasing an additional 127 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Affiliated Managers Group by 1.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,121 shares of the asset manager’s stock worth $927,000 after acquiring an additional 192 shares in the last quarter. World Asset Management Inc increased its position in shares of Affiliated Managers Group by 5.5% in the third quarter. World Asset Management Inc now owns 3,743 shares of the asset manager’s stock worth $312,000 after acquiring an additional 194 shares in the last quarter. Raymond James Trust N.A. increased its position in shares of Affiliated Managers Group by 4.8% in the fourth quarter. Raymond James Trust N.A. now owns 4,762 shares of the asset manager’s stock worth $403,000 after acquiring an additional 220 shares in the last quarter. Finally, Sepio Capital LLC increased its position in shares of Affiliated Managers Group by 6.2% in the third quarter. Sepio Capital LLC now owns 4,153 shares of the asset manager’s stock worth $346,000 after acquiring an additional 243 shares in the last quarter. Institutional investors own 99.29% of the company’s stock.
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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