Zacks Research Has Bearish Forecast for AMG FY2024 Earnings

Affiliated Managers Group, Inc. (NYSE:AMG) – Analysts at Zacks Research dropped their FY2024 earnings per share (EPS) estimates for Affiliated Managers Group in a report issued on Monday, November 25th. Zacks Research analyst R. Department now expects that the asset manager will post earnings per share of $21.01 for the year, down from their previous forecast of $21.63. The consensus estimate for Affiliated Managers Group’s current full-year earnings is $21.01 per share. Zacks Research also issued estimates for Affiliated Managers Group’s Q4 2024 earnings at $6.15 EPS, Q1 2026 earnings at $6.40 EPS, Q2 2026 earnings at $6.46 EPS, Q3 2026 earnings at $7.13 EPS and FY2026 earnings at $27.47 EPS.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The business had revenue of $525.20 million for the quarter, compared to analyst estimates of $521.87 million. During the same period in the previous year, the business posted $4.08 earnings per share. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year.

Several other analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a report on Monday, November 11th. Barrington Research cut their price objective on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Finally, TD Cowen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $226.00 to $177.00 in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $196.50.

Affiliated Managers Group Price Performance

Shares of AMG opened at $188.46 on Thursday. The firm has a 50-day simple moving average of $185.35 and a two-hundred day simple moving average of $171.68. Affiliated Managers Group has a 1-year low of $131.81 and a 1-year high of $199.52. The stock has a market cap of $5.70 billion, a PE ratio of 12.29, a P/E/G ratio of 0.69 and a beta of 1.18.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ashton Thomas Securities LLC purchased a new stake in Affiliated Managers Group during the 3rd quarter worth about $30,000. Altshuler Shaham Ltd acquired a new position in shares of Affiliated Managers Group during the second quarter worth about $28,000. UMB Bank n.a. increased its stake in shares of Affiliated Managers Group by 481.3% during the third quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock worth $33,000 after buying an additional 154 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Affiliated Managers Group in the third quarter valued at approximately $46,000. Finally, Prospera Private Wealth LLC acquired a new position in Affiliated Managers Group during the 3rd quarter worth approximately $47,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Affiliated Managers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend is Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio is currently 0.26%.

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.