Affiliated Managers Group, Inc. (NYSE:AMG) – Equities researchers at Jefferies Group lifted their FY2018 earnings estimates for Affiliated Managers Group in a research note issued to investors on Tuesday. Jefferies Group analyst D. Fannon now expects that the asset manager will post earnings of $16.12 per share for the year, up from their prior estimate of $16.00. Jefferies Group has a “Buy” rating and a $226.00 price target on the stock.

Affiliated Managers Group (NYSE:AMG) last released 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 for the quarter, compared to the consensus estimate of $573.73 million. During the same period in the previous year, the company posted $3.07 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year.

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A number of other brokerages also recently issued reports on AMG. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $229.00 price target on shares of Affiliated Managers Group in a report on Thursday. Zacks Investment Research cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday. Barrington Research reissued an “outperform” rating and issued a $215.00 price objective on shares of Affiliated Managers Group in a research report on Wednesday, October 4th. They noted that the move was a valuation call. BidaskClub cut Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Credit Suisse Group raised their price objective on Affiliated Managers Group from $205.00 to $223.00 and gave the stock an “outperform” rating in a research report on Friday, August 11th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $207.25.

Affiliated Managers Group (NYSE AMG) traded down 0.46% during midday trading on Thursday, reaching $193.67. The company’s stock had a trading volume of 220,776 shares. The firm has a 50 day moving average price of $182.76 and a 200-day moving average price of $170.02. The company has a market cap of $10.84 billion, a P/E ratio of 21.45 and a beta of 1.66. Affiliated Managers Group has a 12-month low of $130.48 and a 12-month high of $196.77.

A number of institutional investors and hedge funds have recently modified their holdings of the business. OppenheimerFunds Inc. lifted its position in Affiliated Managers Group by 0.4% during the 1st quarter. OppenheimerFunds Inc. now owns 1,935 shares of the asset manager’s stock worth $317,000 after acquiring an additional 7 shares during the period. Stephens Inc. AR lifted its position in Affiliated Managers Group by 0.4% during the 2nd quarter. Stephens Inc. AR now owns 2,247 shares of the asset manager’s stock worth $373,000 after acquiring an additional 9 shares during the period. Contravisory Investment Management Inc. lifted its position in Affiliated Managers Group by 0.7% during the 2nd quarter. Contravisory Investment Management Inc. now owns 1,621 shares of the asset manager’s stock worth $269,000 after acquiring an additional 11 shares during the period. Somerset Trust Co lifted its position in Affiliated Managers Group by 0.4% during the 2nd quarter. Somerset Trust Co now owns 3,779 shares of the asset manager’s stock worth $627,000 after acquiring an additional 16 shares during the period. Finally, Bronfman E.L. Rothschild L.P. lifted its position in Affiliated Managers Group by 2.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 755 shares of the asset manager’s stock worth $125,000 after acquiring an additional 16 shares during the period. 96.27% of the stock is owned by institutional investors.

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.

Earnings History and Estimates for Affiliated Managers Group (NYSE:AMG)

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