$605.75 Million in Sales Expected for Affiliated Managers Group, Inc. (AMG) This Quarter
Wall Street analysts forecast that Affiliated Managers Group, Inc. (NYSE:AMG) will post $605.75 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Affiliated Managers Group’s earnings. The lowest sales estimate is $601.20 million and the highest is $611.06 million. Affiliated Managers Group posted sales of $550.30 million during the same quarter last year, which suggests a positive year over year growth rate of 10.1%. The company is expected to issue its next quarterly earnings report on Monday, January 29th.
On average, analysts expect that Affiliated Managers Group will report full year sales of $605.75 million for the current year, with estimates ranging from $2.30 billion to $2.32 billion. For the next fiscal year, analysts expect that the business will report sales of $2.47 billion per share, with estimates ranging from $2.41 billion to $2.56 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Affiliated Managers Group.
Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, October 30th. The asset manager reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.36 by $0.05. Affiliated Managers Group had a net margin of 23.29% and a return on equity of 17.63%. The company had revenue of $585.70 million during the quarter, compared to the consensus estimate of $586.55 million. During the same quarter in the previous year, the company posted $3.02 earnings per share. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year.
Several equities research analysts recently weighed in on AMG shares. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $215.00 price objective on shares of Affiliated Managers Group in a report on Thursday, August 3rd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Affiliated Managers Group in a report on Tuesday, August 1st. BidaskClub downgraded shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $213.00 price objective for the company in a report on Monday, October 2nd. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $215.00 price objective on shares of Affiliated Managers Group in a report on Wednesday, October 4th. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Affiliated Managers Group currently has an average rating of “Buy” and a consensus target price of $207.25.
In other Affiliated Managers Group news, CEO Sean M. Healey sold 69,800 shares of the business’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $185.48, for a total value of $12,946,504.00. Following the sale, the chief executive officer now directly owns 194,943 shares in the company, valued at $36,158,027.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Patrick T. Ryan sold 7,705 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $185.27, for a total transaction of $1,427,505.35. Following the completion of the sale, the director now owns 6,797 shares in the company, valued at $1,259,280.19. The disclosure for this sale can be found here. Insiders sold 79,585 shares of company stock valued at $14,757,312 in the last ninety days. Corporate insiders own 1.40% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Tributary Capital Management LLC acquired a new stake in Affiliated Managers Group during the 3rd quarter worth about $100,000. Creative Planning raised its holdings in Affiliated Managers Group by 15.0% during the 2nd quarter. Creative Planning now owns 705 shares of the asset manager’s stock worth $117,000 after buying an additional 92 shares during the period. Advisor Group Inc. raised its holdings in Affiliated Managers Group by 46.2% during the 2nd quarter. Advisor Group Inc. now owns 722 shares of the asset manager’s stock worth $120,000 after buying an additional 228 shares during the period. Bronfman E.L. Rothschild L.P. raised its holdings in Affiliated Managers Group by 2.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 755 shares of the asset manager’s stock worth $125,000 after buying an additional 16 shares during the period. Finally, Global X Management Co. LLC raised its holdings in Affiliated Managers Group by 78.5% during the 2nd quarter. Global X Management Co. LLC now owns 980 shares of the asset manager’s stock worth $163,000 after buying an additional 431 shares during the period. Hedge funds and other institutional investors own 97.43% of the company’s stock.
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Affiliated Managers Group (NYSE AMG) opened at $189.99 on Friday. The stock has a market cap of $10,578.91, a price-to-earnings ratio of 13.84, a PEG ratio of 0.90 and a beta of 1.70. Affiliated Managers Group has a 1-year low of $139.52 and a 1-year high of $198.40. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Thursday, November 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.42%. The ex-dividend date was Wednesday, November 8th. Affiliated Managers Group’s payout ratio is currently 8.66%.
About Affiliated Managers Group
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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