Wall Street brokerages expect that Affiliated Managers Group, Inc. (NYSE:AMG) will announce $586.73 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Affiliated Managers Group’s earnings, with the highest sales estimate coming in at $605.00 million and the lowest estimate coming in at $576.80 million. Affiliated Managers Group posted sales of $604.10 million in the same quarter last year, which suggests a negative year over year growth rate of 2.9%. The firm is scheduled to announce its next earnings report on Monday, February 4th.
On average, analysts expect that Affiliated Managers Group will report full year sales of $2.40 billion for the current financial year, with estimates ranging from $2.39 billion to $2.42 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.40 billion, with estimates ranging from $2.33 billion to $2.50 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Affiliated Managers Group.
Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, October 29th. The asset manager reported $3.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.42 by $0.03. The firm had revenue of $601.30 million during the quarter, compared to analysts’ expectations of $604.82 million. Affiliated Managers Group had a net margin of 29.38% and a return on equity of 19.37%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company posted $3.41 EPS.
A number of research firms recently weighed in on AMG. Barrington Research lowered their price objective on shares of Affiliated Managers Group from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Monday, July 16th. Citigroup increased their price objective on shares of Affiliated Managers Group from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, July 31st. Keefe, Bruyette & Woods raised shares of Affiliated Managers Group from a “market perform” rating to an “outperform” rating and set a $191.00 price objective for the company in a research report on Monday, July 30th. Zacks Investment Research raised shares of Affiliated Managers Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 16th. Finally, Deutsche Bank lowered their price objective on shares of Affiliated Managers Group from $187.00 to $172.00 and set a “buy” rating for the company in a research report on Thursday, October 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Affiliated Managers Group presently has a consensus rating of “Hold” and an average price target of $190.50.
NYSE:AMG opened at $115.24 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.49 and a quick ratio of 0.42. The company has a market cap of $6.09 billion, a P/E ratio of 7.89, a P/E/G ratio of 0.63 and a beta of 1.53. Affiliated Managers Group has a fifty-two week low of $110.27 and a fifty-two week high of $216.99.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Thursday, November 8th will be given a $0.30 dividend. The ex-dividend date is Wednesday, November 7th. This represents a $1.20 annualized dividend and a yield of 1.04%. Affiliated Managers Group’s dividend payout ratio is presently 8.22%.
In other Affiliated Managers Group news, EVP Hugh Cutler purchased 1,564 shares of the firm’s stock in a transaction on Wednesday, October 31st. The stock was bought at an average price of $115.48 per share, with a total value of $180,610.72. Following the transaction, the executive vice president now directly owns 7,087 shares of the company’s stock, valued at approximately $818,406.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.91% of the company’s stock.
A number of hedge funds have recently modified their holdings of AMG. EdgePoint Investment Group Inc. boosted its position in Affiliated Managers Group by 28.7% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 2,906,740 shares of the asset manager’s stock valued at $432,145,000 after buying an additional 648,919 shares during the period. Renaissance Technologies LLC purchased a new position in Affiliated Managers Group in the 2nd quarter valued at approximately $61,787,000. Canada Pension Plan Investment Board boosted its position in Affiliated Managers Group by 1,387.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 360,321 shares of the asset manager’s stock valued at $53,569,000 after buying an additional 336,094 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Affiliated Managers Group by 91.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 584,135 shares of the asset manager’s stock valued at $86,844,000 after buying an additional 278,337 shares during the period. Finally, American Century Companies Inc. boosted its position in Affiliated Managers Group by 86.3% in the 2nd quarter. American Century Companies Inc. now owns 547,002 shares of the asset manager’s stock valued at $81,323,000 after buying an additional 253,376 shares during the period. 93.07% of the stock is owned by institutional investors.
Affiliated Managers Group Company Profile
Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.
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