Affiliated Managers Group (NYSE:AMG) Updates Q3 Earnings Guidance

Affiliated Managers Group (NYSE:AMG) issued an update on its third quarter earnings guidance on Monday morning. The company provided EPS guidance of $4.68-4.91 for the period, compared to the consensus EPS estimate of $4.69.

Affiliated Managers Group Trading Up 1.9 %

NYSE:AMG opened at $177.02 on Monday. Affiliated Managers Group has a twelve month low of $120.22 and a twelve month high of $177.49. The company has a 50-day moving average of $160.11 and a 200-day moving average of $158.82. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 9.82, a price-to-earnings-growth ratio of 0.62 and a beta of 1.22.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, May 6th. The asset manager reported $5.37 earnings per share for the quarter, beating the consensus estimate of $5.21 by $0.16. Affiliated Managers Group had a net margin of 33.74% and a return on equity of 16.66%. The company had revenue of $499.90 million during the quarter, compared to analyst estimates of $524.53 million. During the same quarter last year, the firm posted $4.18 EPS. On average, research analysts forecast that Affiliated Managers Group will post 21.59 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date was Wednesday, May 15th. Affiliated Managers Group’s payout ratio is 0.22%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AMG shares. TD Cowen raised their target price on shares of Affiliated Managers Group from $198.00 to $201.00 and gave the stock a buy rating in a report on Monday, July 8th. Barrington Research reiterated an outperform rating and issued a $190.00 target price on shares of Affiliated Managers Group in a report on Thursday, July 11th.

About Affiliated Managers Group

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.