Analysts predict that Affiliated Managers Group, Inc. (NYSE:AMG) will report $608.01 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Affiliated Managers Group’s earnings, with estimates ranging from $599.90 million to $614.13 million. Affiliated Managers Group posted sales of $544.30 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.7%. The company is expected to issue its next quarterly earnings report on Monday, May 7th.
On average, analysts expect that Affiliated Managers Group will report full-year sales of $608.01 million for the current year, with estimates ranging from $2.50 billion to $2.55 billion. For the next financial year, analysts forecast that the business will report sales of $2.70 billion per share, with estimates ranging from $2.58 billion to $2.77 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Affiliated Managers Group.
Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, January 29th. The asset manager reported $4.68 EPS for the quarter, topping the consensus estimate of $4.55 by $0.13. The business had revenue of $604.10 million during the quarter, compared to the consensus estimate of $608.51 million. Affiliated Managers Group had a net margin of 29.92% and a return on equity of 18.61%. Affiliated Managers Group’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.80 EPS.
AMG has been the subject of several research analyst reports. Zacks Investment Research raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $230.00 target price for the company in a report on Tuesday, January 2nd. Credit Suisse Group downgraded shares of Affiliated Managers Group from an “outperform” rating to a “neutral” rating and set a $220.00 target price for the company. in a report on Wednesday, January 3rd. Goldman Sachs Group downgraded shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $216.00 target price for the company. in a report on Tuesday, January 9th. Citigroup raised shares of Affiliated Managers Group from a “neutral” rating to a “buy” rating in a report on Friday, January 19th. Finally, Barrington Research lifted their target price on shares of Affiliated Managers Group to $240.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Affiliated Managers Group presently has an average rating of “Buy” and an average price target of $228.00.
Shares of Affiliated Managers Group (NYSE AMG) opened at $191.80 on Wednesday. The company has a market cap of $10,254.01, a PE ratio of 12.86, a P/E/G ratio of 0.67 and a beta of 1.55. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.59 and a current ratio of 0.59. Affiliated Managers Group has a twelve month low of $148.81 and a twelve month high of $216.99.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th were issued a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.20 dividend on an annualized basis and a yield of 0.63%. This is an increase from Affiliated Managers Group’s previous quarterly dividend of $0.20. Affiliated Managers Group’s payout ratio is currently 9.94%.
Affiliated Managers Group announced that its board has initiated a share buyback plan on Monday, January 29th that allows the company to repurchase 3,400,000 shares. This repurchase authorization allows the asset manager to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently bought and sold shares of AMG. Advisor Group Inc. boosted its holdings in Affiliated Managers Group by 38.5% in the 3rd quarter. Advisor Group Inc. now owns 1,000 shares of the asset manager’s stock valued at $190,000 after purchasing an additional 278 shares during the period. Waldron LP bought a new stake in Affiliated Managers Group in the 4th quarter valued at about $201,000. IFM Investors Pty Ltd bought a new stake in Affiliated Managers Group in the 4th quarter valued at about $201,000. Canandaigua National Bank & Trust Co. bought a new stake in Affiliated Managers Group in the 4th quarter valued at about $204,000. Finally, Schaper Benz & Wise Investment Counsel Inc. WI bought a new stake in Affiliated Managers Group in the 4th quarter valued at about $205,000. 96.33% of the stock is owned by hedge funds and other institutional investors.
Affiliated Managers Group Company Profile
Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.
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