Affiliated Managers Group (NYSE:AMG – Get Free Report) updated its second quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 4.500-4.600 for the period, compared to the consensus earnings per share estimate of 4.860. The company issued revenue guidance of -.
Wall Street Analyst Weigh In
Several analysts have recently commented on the company. TD Cowen decreased their price objective on Affiliated Managers Group from $218.00 to $198.00 and set a buy rating for the company in a report on Tuesday. Barrington Research reissued an outperform rating and issued a $190.00 target price on shares of Affiliated Managers Group in a research report on Tuesday.
Check Out Our Latest Stock Analysis on AMG
Affiliated Managers Group Price Performance
Affiliated Managers Group (NYSE:AMG – Get Free Report) last announced its quarterly earnings results on Monday, May 6th. The asset manager reported $5.37 earnings per share for the quarter, topping the consensus estimate of $5.21 by $0.16. The company had revenue of $499.90 million for the quarter, compared to the consensus estimate of $524.53 million. Affiliated Managers Group had a return on equity of 16.29% and a net margin of 32.71%. During the same period last year, the firm earned $4.18 EPS. Research analysts expect that Affiliated Managers Group will post 22.03 earnings per share for the current year.
Affiliated Managers Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, May 15th. Affiliated Managers Group’s dividend payout ratio is currently 0.23%.
Affiliated Managers Group Company Profile
Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.
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