Affiliated Managers Group (NYSE:AMG) Issues Q2 Earnings Guidance

Affiliated Managers Group (NYSE:AMG) updated its second quarter earnings guidance on Monday. The company provided EPS guidance of $4.50-$4.60 for the period, compared to the consensus EPS estimate of $4.86.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMG. TD Cowen dropped their target price on shares of Affiliated Managers Group from $218.00 to $198.00 and set a buy rating on the stock in a research note on Tuesday. Barrington Research reiterated an outperform rating and issued a $190.00 target price on shares of Affiliated Managers Group in a research note on Tuesday.

Affiliated Managers Group Trading Up 0.8 %

Shares of AMG stock traded up $1.32 during trading on Wednesday, reaching $156.88. 522,954 shares of the company’s stock traded hands, compared to its average volume of 249,905. Affiliated Managers Group has a 1 year low of $120.22 and a 1 year high of $169.65. The company has a market capitalization of $5.09 billion, a P/E ratio of 8.97, a PEG ratio of 0.56 and a beta of 1.31. The firm’s 50-day moving average is $161.50 and its 200 day moving average is $150.00.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, May 6th. The asset manager reported $5.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.21 by $0.16. Affiliated Managers Group had a net margin of 32.71% and a return on equity of 16.29%. The business had revenue of $499.90 million for the quarter, compared to analysts’ expectations of $524.53 million. During the same period in the prior year, the company posted $4.18 EPS. As a group, sell-side analysts predict that Affiliated Managers Group will post 22.03 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, May 15th. Affiliated Managers Group’s dividend payout ratio is presently 0.23%.

About Affiliated Managers Group

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.