Brokerages expect Affiliated Managers Group, Inc. (NYSE:AMG) to post $530.91 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Affiliated Managers Group’s earnings, with estimates ranging from $514.12 million to $553.60 million. Affiliated Managers Group reported sales of $612.40 million in the same quarter last year, which indicates a negative year over year growth rate of 13.3%. The business is expected to announce its next quarterly earnings results on Monday, April 29th.
According to Zacks, analysts expect that Affiliated Managers Group will report full year sales of $2.19 billion for the current financial year, with estimates ranging from $2.14 billion to $2.23 billion. For the next financial year, analysts anticipate that the business will report sales of $2.30 billion, with estimates ranging from $2.29 billion to $2.32 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Affiliated Managers Group.Get Affiliated Managers Group alerts:
Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, February 4th. The asset manager reported $3.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.02. The company had revenue of $564.40 million for the quarter, compared to analyst estimates of $568.99 million. Affiliated Managers Group had a net margin of 10.24% and a return on equity of 18.11%. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $4.68 EPS.
A number of brokerages recently weighed in on AMG. Jefferies Financial Group downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and set a $109.87 price target on the stock. in a research report on Tuesday, January 29th. Zacks Investment Research downgraded shares of Affiliated Managers Group from a “hold” rating to a “sell” rating in a research report on Monday, January 14th. Citigroup downgraded shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating in a research report on Monday, January 14th. Credit Suisse Group cut their price target on shares of Affiliated Managers Group from $162.00 to $123.00 and set a “neutral” rating on the stock in a research report on Monday, January 14th. Finally, Deutsche Bank downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $158.00 to $106.00 in a report on Thursday, January 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $132.12.
Shares of NYSE:AMG traded up $0.21 during mid-day trading on Wednesday, reaching $103.83. The stock had a trading volume of 558,980 shares, compared to its average volume of 538,063. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of 7.16, a P/E/G ratio of 0.83 and a beta of 1.42. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.29 and a quick ratio of 0.42. Affiliated Managers Group has a twelve month low of $88.46 and a twelve month high of $197.03.
The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Thursday, February 14th were issued a dividend of $0.32 per share. This is an increase from Affiliated Managers Group’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Wednesday, February 13th. Affiliated Managers Group’s dividend payout ratio (DPR) is 8.83%.
In other Affiliated Managers Group news, Director Tracy P. Palandjian sold 1,694 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $110.64, for a total transaction of $187,424.16. Following the sale, the director now directly owns 4,291 shares in the company, valued at approximately $474,756.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.91% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of AMG. Kiltearn Partners LLP bought a new position in shares of Affiliated Managers Group during the 4th quarter worth approximately $81,521,000. Clarkston Capital Partners LLC bought a new position in shares of Affiliated Managers Group during the 4th quarter worth approximately $54,384,000. Norges Bank bought a new position in shares of Affiliated Managers Group during the 4th quarter worth approximately $45,931,000. Two Sigma Investments LP grew its stake in shares of Affiliated Managers Group by 189.3% during the 4th quarter. Two Sigma Investments LP now owns 531,567 shares of the asset manager’s stock worth $51,796,000 after acquiring an additional 347,822 shares in the last quarter. Finally, Ceredex Value Advisors LLC grew its stake in shares of Affiliated Managers Group by 61.4% during the 3rd quarter. Ceredex Value Advisors LLC now owns 658,050 shares of the asset manager’s stock worth $89,969,000 after acquiring an additional 250,225 shares in the last quarter. 94.26% of the stock is owned by institutional investors.
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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