Affiliated Managers Group Inc. Forecasted to Post FY2016 Earnings of $12.87 Per Share (AMG)
Affiliated Managers Group Inc. (NYSE:AMG) – Equities research analysts at Jefferies Group dropped their FY2016 earnings estimates for Affiliated Managers Group in a report issued on Tuesday. Jefferies Group analyst D. Fannon now anticipates that the brokerage will post earnings of $12.87 per share for the year, down from their previous estimate of $13.08. Jefferies Group has a “Buy” rating and a $193.00 price objective on the stock. Jefferies Group also issued estimates for Affiliated Managers Group’s Q4 2016 earnings at $3.83 EPS, Q1 2017 earnings at $3.26 EPS, Q2 2017 earnings at $3.40 EPS, Q3 2017 earnings at $3.36 EPS, Q4 2017 earnings at $4.86 EPS and FY2017 earnings at $14.86 EPS.
AMG has been the topic of several other reports. Deutsche Bank AG raised their target price on Affiliated Managers Group from $184.00 to $191.00 and gave the company a “buy” rating in a research report on Friday, September 9th. Credit Suisse Group AG set a $212.00 target price on Affiliated Managers Group and gave the company a “buy” rating in a research report on Wednesday, September 28th. Zacks Investment Research upgraded Affiliated Managers Group from a “sell” rating to a “buy” rating and set a $164.00 target price on the stock in a research report on Tuesday, October 4th. Capital One Financial Corp. restated a “buy” rating and issued a $188.00 target price on shares of Affiliated Managers Group in a research report on Wednesday, October 5th. Finally, TheStreet cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $179.75.
Affiliated Managers Group (NYSE:AMG) traded down 0.38% during trading on Wednesday, hitting $146.09. 288,082 shares of the stock traded hands. The company has a market cap of $7.87 billion, a P/E ratio of 16.99 and a beta of 1.56. Affiliated Managers Group has a 12 month low of $115.97 and a 12 month high of $190.74. The company’s 50 day moving average price is $144.93 and its 200 day moving average price is $153.47.
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Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, August 1st. The company reported $3.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.01 by $0.05. Affiliated Managers Group had a net margin of 20.47% and a return on equity of 18.39%. The firm had revenue of $646.60 million for the quarter, compared to the consensus estimate of $565.16 million. During the same quarter in the prior year, the company posted $3.08 earnings per share. The company’s revenue for the quarter was down 14.3% compared to the same quarter last year.
Several institutional investors have recently modified their holdings of the company. Mizuho Asset Management Co. Ltd. boosted its position in shares of Affiliated Managers Group by 92.3% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 729 shares of the company’s stock worth $103,000 after buying an additional 350 shares during the last quarter. Mycio Wealth Partners LLC boosted its position in shares of Affiliated Managers Group by 47.9% in the second quarter. Mycio Wealth Partners LLC now owns 880 shares of the company’s stock worth $124,000 after buying an additional 285 shares during the last quarter. Advisor Group Inc. bought a new position in shares of Affiliated Managers Group during the second quarter worth about $124,000. FNY Managed Accounts LLC boosted its position in shares of Affiliated Managers Group by 360.0% in the second quarter. FNY Managed Accounts LLC now owns 920 shares of the company’s stock worth $130,000 after buying an additional 720 shares during the last quarter. Finally, Washington Trust Bank boosted its position in shares of Affiliated Managers Group by 90.1% in the second quarter. Washington Trust Bank now owns 998 shares of the company’s stock worth $140,000 after buying an additional 473 shares during the last quarter.
About Affiliated Managers Group
Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms (Affiliates). The Company is focused on investing in the boutique investment management firms globally, including traditional, alternative and wealth management firms, specializing in an array of active return-oriented investment strategies.
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