Zacks: Analysts Expect Affiliated Managers Group, Inc. (AMG) Will Announce Quarterly Sales of $580.24 Million
Analysts forecast that Affiliated Managers Group, Inc. (NYSE:AMG) will announce $580.24 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Affiliated Managers Group’s earnings, with the lowest sales estimate coming in at $565.43 million and the highest estimate coming in at $588.00 million. Affiliated Managers Group posted sales of $544.70 million in the same quarter last year, which would indicate a positive year over year growth rate of 6.5%. The firm is expected to issue its next earnings results on Monday, October 30th.
On average, analysts expect that Affiliated Managers Group will report full-year sales of $580.24 million for the current financial year, with estimates ranging from $2.29 billion to $2.31 billion. For the next financial year, analysts anticipate that the business will post sales of $2.46 billion per share, with estimates ranging from $2.40 billion to $2.54 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Affiliated Managers Group.
Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, July 31st. The asset manager reported $3.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.24 by $0.09. Affiliated Managers Group had a return on equity of 17.45% and a net margin of 22.99%. The business had revenue of $570.90 million during the quarter, compared to analysts’ expectations of $573.73 million. During the same period in the previous year, the business earned $3.07 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis.
AMG has been the subject of a number of research analyst reports. Zacks Investment Research lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Citigroup Inc. restated a “buy” rating on shares of Affiliated Managers Group in a research report on Tuesday, May 2nd. ValuEngine lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Finally, Credit Suisse Group restated a “buy” rating and set a $207.00 price objective on shares of Affiliated Managers Group in a research report on Sunday, July 9th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Affiliated Managers Group presently has an average rating of “Buy” and a consensus target price of $195.50.
In other Affiliated Managers Group news, Director Dwight D. Churchill sold 3,277 shares of the firm’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $163.30, for a total value of $535,134.10. Following the completion of the sale, the director now owns 7,301 shares of the company’s stock, valued at $1,192,253.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Sean M. Healey sold 56,928 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $161.07, for a total transaction of $9,169,392.96. Following the completion of the sale, the chief executive officer now directly owns 206,689 shares of the company’s stock, valued at approximately $33,291,397.23. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in AMG. BB&T Corp increased its stake in shares of Affiliated Managers Group by 19.4% in the second quarter. BB&T Corp now owns 7,042 shares of the asset manager’s stock valued at $1,168,000 after buying an additional 1,143 shares during the last quarter. Bank of Montreal Can increased its stake in Affiliated Managers Group by 44.9% in the first quarter. Bank of Montreal Can now owns 43,685 shares of the asset manager’s stock valued at $7,161,000 after buying an additional 13,540 shares in the last quarter. Pier 88 Investment Partners LLC increased its stake in Affiliated Managers Group by 25.0% in the second quarter. Pier 88 Investment Partners LLC now owns 2,500 shares of the asset manager’s stock valued at $415,000 after buying an additional 500 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in Affiliated Managers Group by 12.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 273,515 shares of the asset manager’s stock valued at $44,841,000 after buying an additional 29,626 shares in the last quarter. Finally, Financial Architects Inc increased its stake in Affiliated Managers Group by 5,340.0% in the first quarter. Financial Architects Inc now owns 816 shares of the asset manager’s stock valued at $134,000 after buying an additional 801 shares in the last quarter. 95.29% of the stock is owned by institutional investors and hedge funds.
Affiliated Managers Group (NYSE AMG) traded up 0.84% during trading on Tuesday, reaching $173.50. The company had a trading volume of 38,836 shares. The firm’s 50-day moving average price is $176.86 and its 200 day moving average price is $165.53. Affiliated Managers Group has a one year low of $130.48 and a one year high of $187.08. The firm has a market capitalization of $9.71 billion, a P/E ratio of 19.22 and a beta of 1.65.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Thursday, August 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Tuesday, August 8th. Affiliated Managers Group’s payout ratio is 8.87%.
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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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