Affiliated Managers Group (NYSE:AMG) Posts Earnings Results, Beats Expectations By $0.04 EPS


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Affiliated Managers Group (NYSE:AMG) issued its quarterly earnings data on Sunday. The asset manager reported $4.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.24 by $0.04, MarketWatch Earnings reports. The company had revenue of $559.30 million for the quarter, compared to the consensus estimate of $554.48 million. Affiliated Managers Group had a net margin of 5.37% and a return on equity of 19.15%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.26 earnings per share.

Shares of NYSE AMG traded down $0.50 during mid-day trading on Tuesday, reaching $160.91. The company’s stock had a trading volume of 5,138 shares, compared to its average volume of 422,905. Affiliated Managers Group has a 52 week low of $56.80 and a 52 week high of $165.86. The stock has a fifty day moving average of $153.90 and a two-hundred day moving average of $118.22. The firm has a market capitalization of $6.71 billion, a PE ratio of 69.20, a P/E/G ratio of 0.53 and a beta of 1.44.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 27th. Shareholders of record on Thursday, May 13th will be issued a dividend of $0.01 per share. The ex-dividend date is Wednesday, May 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. Affiliated Managers Group’s dividend payout ratio is presently 0.28%.

In other news, CEO Jay C. Horgen bought 4,000 shares of Affiliated Managers Group stock in a transaction dated Tuesday, February 9th. The shares were purchased at an average cost of $136.23 per share, with a total value of $544,920.00. Following the completion of the acquisition, the chief executive officer now owns 136,026 shares of the company’s stock, valued at approximately $18,530,821.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Reuben Jeffery III acquired 2,500 shares of Affiliated Managers Group stock in a transaction on Wednesday, February 10th. The stock was purchased at an average cost of $145.53 per share, for a total transaction of $363,825.00. Following the purchase, the director now owns 17,500 shares in the company, valued at $2,546,775. The disclosure for this purchase can be found here. 1.69% of the stock is currently owned by company insiders.

AMG has been the topic of a number of research reports. Barrington Research restated an “outperform” rating and issued a $180.00 price target (up from $145.00) on shares of Affiliated Managers Group in a research note on Monday. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price target on shares of Affiliated Managers Group from $206.00 to $213.00 and gave the company a “buy” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Affiliated Managers Group from $150.00 to $152.00 and gave the stock a “hold” rating in a report on Tuesday. Citigroup upgraded shares of Affiliated Managers Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $108.50 to $172.00 in a research report on Tuesday, February 9th. Finally, Credit Suisse Group upped their price objective on Affiliated Managers Group from $146.00 to $148.00 and gave the stock a “neutral” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $144.43.

About Affiliated Managers Group

Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

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Earnings History for Affiliated Managers Group (NYSE:AMG)

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