Research Analysts Set Expectations for AMG FY2024 Earnings

Affiliated Managers Group, Inc. (NYSE:AMG) – Analysts at Barrington Research decreased their FY2024 EPS estimates for Affiliated Managers Group in a research note issued to investors on Tuesday, November 5th. Barrington Research analyst A. Paris now expects that the asset manager will post earnings of $20.90 per share for the year, down from their previous forecast of $21.55. Barrington Research has a “Outperform” rating and a $200.00 price objective on the stock. The consensus estimate for Affiliated Managers Group’s current full-year earnings is $22.02 per share.

A number of other brokerages have also recently weighed in on AMG. StockNews.com cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. TD Cowen cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $226.00 to $177.00 in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Affiliated Managers Group from $219.00 to $204.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Bank of America boosted their price objective on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $195.50.

Affiliated Managers Group Trading Up 4.7 %

Shares of Affiliated Managers Group stock opened at $186.20 on Wednesday. The firm has a fifty day simple moving average of $180.73 and a 200-day simple moving average of $168.93. Affiliated Managers Group has a 1-year low of $129.57 and a 1-year high of $199.52. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 0.62 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, November 4th. The asset manager reported $4.82 EPS for the quarter, missing the consensus estimate of $4.84 by ($0.02). The business had revenue of $525.20 million during the quarter, compared to the consensus estimate of $521.87 million. Affiliated Managers Group had a return on equity of 16.50% and a net margin of 31.51%. The business’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $4.08 earnings per share.

Institutional Investors Weigh In On Affiliated Managers Group

Hedge funds have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd bought a new stake in Affiliated Managers Group during the 2nd quarter worth about $28,000. Ashton Thomas Securities LLC bought a new stake in Affiliated Managers Group during the 3rd quarter worth about $30,000. UMB Bank n.a. grew its holdings in Affiliated Managers Group by 481.3% during the 3rd quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock worth $33,000 after acquiring an additional 154 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in Affiliated Managers Group during the 2nd quarter valued at about $47,000. Finally, Goodman Advisory Group LLC acquired a new position in Affiliated Managers Group during the 2nd quarter valued at about $50,000. Institutional investors own 95.30% of the company’s stock.

Insider Transactions at Affiliated Managers Group

In other news, insider Rizwan M. Jamal sold 8,622 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $172.89, for a total value of $1,490,657.58. Following the sale, the insider now owns 128,457 shares of the company’s stock, valued at approximately $22,208,930.73. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Affiliated Managers Group news, insider Rizwan M. Jamal sold 8,622 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $172.89, for a total transaction of $1,490,657.58. Following the sale, the insider now owns 128,457 shares of the company’s stock, valued at $22,208,930.73. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Thomas M. Wojcik sold 4,786 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $172.71, for a total transaction of $826,590.06. Following the sale, the chief operating officer now directly owns 84,392 shares in the company, valued at approximately $14,575,342.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,408 shares of company stock valued at $3,865,068. 1.90% of the stock is owned by insiders.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend is Thursday, November 14th. Affiliated Managers Group’s payout ratio is 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.