Affiliated Managers Group (NYSE:AMG) Posts Earnings Results, Beats Estimates By $0.04 EPS


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Affiliated Managers Group (NYSE:AMG) announced its quarterly earnings data on Sunday. The asset manager reported $4.28 EPS for the quarter, beating the Zacks’ consensus estimate of $4.24 by $0.04, MarketWatch Earnings reports. The business had revenue of $559.30 million during the quarter, compared to analyst estimates of $554.48 million. Affiliated Managers Group had a net margin of 5.37% and a return on equity of 19.15%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.26 earnings per share.

Affiliated Managers Group stock traded up $1.59 during trading hours on Tuesday, hitting $163.00. 328,016 shares of the stock were exchanged, compared to its average volume of 421,775. The stock has a market capitalization of $6.80 billion, a P/E ratio of 69.68, a P/E/G ratio of 0.53 and a beta of 1.44. Affiliated Managers Group has a 12 month low of $56.80 and a 12 month high of $165.86. The business’s 50-day moving average is $153.90 and its two-hundred day moving average is $118.22.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 27th. Shareholders of record on Thursday, May 13th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, May 12th. This represents a $0.04 annualized dividend and a yield of 0.02%. Affiliated Managers Group’s dividend payout ratio is 0.28%.

A number of research firms recently weighed in on AMG. Deutsche Bank Aktiengesellschaft upped their target price on shares of Affiliated Managers Group from $150.00 to $152.00 and gave the company a “hold” rating in a research note on Tuesday. Barrington Research reissued an “outperform” rating and issued a $180.00 target price (up previously from $145.00) on shares of Affiliated Managers Group in a research note on Monday. Citigroup upped their target price on shares of Affiliated Managers Group from $206.00 to $213.00 in a research note on Tuesday. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their target price on shares of Affiliated Managers Group from $206.00 to $213.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Credit Suisse Group upped their target price on shares of Affiliated Managers Group from $146.00 to $148.00 and gave the company a “neutral” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $150.29.

In related news, Director Reuben Jeffery III purchased 2,500 shares of the firm’s stock in a transaction dated Wednesday, February 10th. The shares were acquired at an average cost of $145.53 per share, with a total value of $363,825.00. Following the completion of the purchase, the director now directly owns 17,500 shares of the company’s stock, valued at $2,546,775. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jay C. Horgen purchased 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 9th. The shares were bought at an average cost of $136.23 per share, for a total transaction of $544,920.00. Following the completion of the purchase, the chief executive officer now directly owns 136,026 shares of the company’s stock, valued at $18,530,821.98. The disclosure for this purchase can be found here. 1.69% of the stock is currently owned by corporate insiders.

About Affiliated Managers Group

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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Earnings History for Affiliated Managers Group (NYSE:AMG)

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