Affiliated Managers Group (NYSE:AMG) Issues Earnings Results

Affiliated Managers Group (NYSE:AMG) announced its quarterly earnings results on Monday. The asset manager reported $6.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.88 by $0.22, Zacks reports. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The company had revenue of $528.00 million during the quarter, compared to analyst estimates of $543.39 million. During the same quarter in the previous year, the firm posted $4.82 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis.

Affiliated Managers Group Stock Up 7.8%

Shares of Affiliated Managers Group stock opened at $256.47 on Tuesday. The stock’s fifty day moving average is $236.71 and its 200-day moving average is $207.77. The firm has a market capitalization of $7.29 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 0.61 and a beta of 1.21. Affiliated Managers Group has a 12-month low of $139.22 and a 12-month high of $256.81.

Affiliated Managers Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Thursday, November 13th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Affiliated Managers Group’s payout ratio is 0.29%.

Analyst Ratings Changes

Several brokerages have recently weighed in on AMG. Zacks Research lowered Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. TD Cowen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $214.00 to $255.00 in a report on Monday, August 4th. Wall Street Zen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. The Goldman Sachs Group upped their price objective on Affiliated Managers Group from $240.00 to $280.00 and gave the company a “buy” rating in a report on Monday, October 6th. Finally, Barrington Research upped their price objective on Affiliated Managers Group from $240.00 to $285.00 and gave the company an “outperform” rating in a report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Affiliated Managers Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $272.60.

Insider Activity

In other news, COO Thomas M. Wojcik sold 16,000 shares of the business’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total transaction of $3,696,480.00. Following the sale, the chief operating officer directly owned 158,710 shares of the company’s stock, valued at $36,666,771.30. The trade was a 9.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AMG. Goldman Sachs Group Inc. raised its position in Affiliated Managers Group by 1.3% during the first quarter. Goldman Sachs Group Inc. now owns 113,353 shares of the asset manager’s stock valued at $19,047,000 after buying an additional 1,428 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Affiliated Managers Group by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 141,733 shares of the asset manager’s stock valued at $23,815,000 after buying an additional 6,262 shares during the period. Jane Street Group LLC acquired a new position in Affiliated Managers Group during the first quarter valued at $1,947,000. American Century Companies Inc. raised its position in Affiliated Managers Group by 1.2% during the second quarter. American Century Companies Inc. now owns 8,552 shares of the asset manager’s stock valued at $1,683,000 after buying an additional 104 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in Affiliated Managers Group by 89.9% during the second quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager’s stock valued at $55,000 after buying an additional 133 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

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.