Zacks: Brokerages Expect Affiliated Managers Group, Inc. (NYSE:AMG) to Post $3.90 EPS

Wall Street brokerages forecast that Affiliated Managers Group, Inc. (NYSE:AMG) will report $3.90 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Affiliated Managers Group’s earnings, with the highest EPS estimate coming in at $3.96 and the lowest estimate coming in at $3.83. Affiliated Managers Group posted earnings of $3.27 per share in the same quarter last year, which would suggest a positive year over year growth rate of 19.3%. The company is scheduled to report its next quarterly earnings results on Monday, October 25th.

On average, analysts expect that Affiliated Managers Group will report full year earnings of $17.01 per share for the current financial year, with EPS estimates ranging from $16.88 to $17.15. For the next financial year, analysts forecast that the firm will report earnings of $19.92 per share, with EPS estimates ranging from $19.86 to $20.04. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Affiliated Managers Group.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Tuesday, July 27th. The asset manager reported $4.03 EPS for the quarter, topping analysts’ consensus estimates of $3.85 by $0.18. Affiliated Managers Group had a return on equity of 20.31% and a net margin of 20.33%. The company had revenue of $586.30 million for the quarter, compared to the consensus estimate of $590.66 million.

A number of analysts recently issued reports on the company. raised their price target on Affiliated Managers Group from $213.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, July 7th. lifted their price target on shares of Affiliated Managers Group from $213.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, July 7th. Barrington Research upped their price target on shares of Affiliated Managers Group from $180.00 to $190.00 and gave the company an “outperform” rating in a report on Tuesday, July 6th. Citigroup reissued a “buy” rating and issued a $246.00 price objective (up previously from $213.00) on shares of Affiliated Managers Group in a research note on Wednesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft raised Affiliated Managers Group from a “hold” rating to a “buy” rating and upped their target price for the company from $167.00 to $202.00 in a research note on Monday, July 12th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $213.00.

NYSE:AMG opened at $155.57 on Tuesday. The firm has a market capitalization of $6.41 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 0.63 and a beta of 1.37. The business has a 50 day simple moving average of $163.58 and a 200-day simple moving average of $159.93. Affiliated Managers Group has a 1 year low of $62.19 and a 1 year high of $180.97.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 20th. Stockholders of record on Friday, August 6th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, August 5th. Affiliated Managers Group’s payout ratio is currently 0.30%.

In other Affiliated Managers Group news, Director Dwight D. Churchill purchased 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 2nd. The shares were bought at an average price of $160.89 per share, for a total transaction of $160,890.00. Following the acquisition, the director now owns 13,635 shares in the company, valued at $2,193,735.15. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jay C. Horgen acquired 2,000 shares of the firm’s stock in a transaction on Tuesday, September 14th. The shares were acquired at an average price of $158.01 per share, with a total value of $316,020.00. Following the completion of the purchase, the chief executive officer now owns 183,783 shares in the company, valued at approximately $29,039,551.83. The disclosure for this purchase can be found here. Corporate insiders own 0.70% of the company’s stock.

Large investors have recently made changes to their positions in the business. Natixis Advisors L.P. boosted its holdings in Affiliated Managers Group by 0.6% during the first quarter. Natixis Advisors L.P. now owns 11,515 shares of the asset manager’s stock worth $1,716,000 after buying an additional 74 shares in the last quarter. SkyView Investment Advisors LLC boosted its stake in shares of Affiliated Managers Group by 257.1% during the 1st quarter. SkyView Investment Advisors LLC now owns 200 shares of the asset manager’s stock worth $30,000 after acquiring an additional 144 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Affiliated Managers Group by 2.7% during the 1st quarter. Cubist Systematic Strategies LLC now owns 6,866 shares of the asset manager’s stock valued at $1,023,000 after acquiring an additional 179 shares during the period. XTX Topco Ltd increased its stake in shares of Affiliated Managers Group by 8.2% in the 2nd quarter. XTX Topco Ltd now owns 2,401 shares of the asset manager’s stock valued at $370,000 after purchasing an additional 181 shares in the last quarter. Finally, People s United Financial Inc. raised its holdings in Affiliated Managers Group by 9.2% in the 2nd quarter. People s United Financial Inc. now owns 2,659 shares of the asset manager’s stock worth $410,000 after purchasing an additional 224 shares during the period. 98.38% of the stock is owned by institutional investors.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. It provides assistance on strategic matters, marketing, distribution, product development, and operations. The company was founded by William J. Nutt in December 1993 and is headquartered in West Palm Beach, FL.

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

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