Affiliated Managers Group Inc. Expected to Earn Q3 2016 Earnings of $3.02 Per Share (AMG)
Affiliated Managers Group Inc. (NYSE:AMG) – Analysts at Jefferies Group increased their Q3 2016 EPS estimates for shares of Affiliated Managers Group in a report issued on Tuesday. Jefferies Group analyst D. Fannon now anticipates that the brokerage will post earnings of $3.02 per share for the quarter, up from their previous estimate of $3.01. Jefferies Group has a “Buy” rating and a $193.00 price objective on the stock.
Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, August 1st. The company reported $3.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.01 by $0.05. Affiliated Managers Group had a return on equity of 18.39% and a net margin of 20.47%. The business had revenue of $646.60 million for the quarter, compared to analysts’ expectations of $565.16 million. During the same quarter in the previous year, the firm posted $3.08 earnings per share. The company’s revenue was down 14.3% compared to the same quarter last year.
Other analysts have also issued research reports about the company. Deutsche Bank AG restated a “buy” rating on shares of Affiliated Managers Group in a report on Sunday, July 10th. Keefe, Bruyette & Woods reduced their target price on Affiliated Managers Group from $215.00 to $196.00 and set an “outperform” rating for the company in a report on Tuesday, August 2nd. Zacks Investment Research lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, TheStreet lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a 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.
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Affiliated Managers Group (NYSE:AMG) traded down 1.80% on Thursday, hitting $143.19. The company had a trading volume of 224,777 shares. Affiliated Managers Group has a 12-month low of $115.97 and a 12-month high of $190.74. The stock has a market cap of $7.71 billion, a P/E ratio of 16.65 and a beta of 1.56. The firm’s 50 day moving average price is $145.00 and its 200 day moving average price is $153.41.
Institutional investors have recently bought and sold shares of the company. First National Bank of Omaha increased its position in Affiliated Managers Group by 23.0% in the third quarter. First National Bank of Omaha now owns 30,822 shares of the company’s stock worth $4,460,000 after buying an additional 5,763 shares during the period. Legacy Private Trust Co. bought a new position in Affiliated Managers Group during the third quarter worth $245,000. Community Trust & Investment Co. bought a new position in Affiliated Managers Group during the third quarter worth $514,000. Oliver Luxxe Assets LLC increased its position in Affiliated Managers Group by 16.6% in the third quarter. Oliver Luxxe Assets LLC now owns 4,354 shares of the company’s stock worth $630,000 after buying an additional 620 shares during the period. Finally, North Star Asset Management Inc. increased its position in Affiliated Managers Group by 4.4% in the third quarter. North Star Asset Management Inc. now owns 82,692 shares of the company’s stock worth $11,965,000 after buying an additional 3,481 shares during the period.
Affiliated Managers Group Company Profile
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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