Affiliated Managers Group (NYSE:AMG) Issues Earnings Results, Beats Estimates By $0.71 EPS

Affiliated Managers Group (NYSE:AMG) issued its earnings results on Monday. The asset manager reported $9.50 EPS for the quarter, topping analysts’ consensus estimates of $8.79 by $0.71, FiscalAI reports. The company had revenue of $595.20 million for the quarter, compared to analysts’ expectations of $655.08 million. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%.

Affiliated Managers Group Trading Down 0.3%

NYSE:AMG opened at $361.79 on Monday. The firm has a market capitalization of $9.36 billion, a P/E ratio of 12.53, a P/E/G ratio of 0.46 and a beta of 1.05. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The company has a fifty day moving average of $371.73 and a 200 day moving average of $333.89. Affiliated Managers Group has a 52 week low of $246.11 and a 52 week high of $400.13.

Analyst Upgrades and Downgrades

AMG has been the topic of a number of recent research reports. Weiss Ratings raised Affiliated Managers Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Wall Street Zen lowered Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 30th. TD Cowen boosted their target price on Affiliated Managers Group from $512.00 to $523.00 and gave the company a “buy” rating in a research note on Monday, October 12th. Zacks Research cut Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 29th. Finally, Barrington Research set a $425.00 price target on Affiliated Managers Group in a research report on Friday, July 31st. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $438.25.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management company that partners with independent investment firms. Founded in 1993, AMG provides its partner firms with strategic capital, distribution support and business resources while allowing them to retain substantial independence over their investment processes and operations.

Through its partner firms, AMG offers a range of investment strategies and services, including alternative investments, equities, fixed income, private markets and wealth management.