AMG FY2024 EPS Forecast Reduced by Barrington Research

Affiliated Managers Group, Inc. (NYSE:AMG) – Research analysts at Barrington Research lowered their FY2024 earnings estimates for shares of Affiliated Managers Group in a report released on Tuesday, November 5th. Barrington Research analyst A. Paris now anticipates that the asset manager will post earnings of $20.90 per share for the year, down from their prior estimate of $21.55. Barrington Research has a “Outperform” rating and a $200.00 price objective on the stock. The consensus estimate for Affiliated Managers Group’s current full-year earnings is $22.02 per share.

A number of other equities analysts also recently issued reports on AMG. Bank of America increased their price objective on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. StockNews.com cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. TD Cowen lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $226.00 to $177.00 in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Affiliated Managers Group from $219.00 to $204.00 and set a “buy” rating on the stock in a research note on Tuesday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Affiliated Managers Group presently has a consensus rating of “Hold” and a consensus target price of $195.50.

Affiliated Managers Group Stock Up 0.3 %

AMG opened at $177.65 on Wednesday. Affiliated Managers Group has a 52 week low of $129.57 and a 52 week high of $199.52. The stock has a market cap of $5.30 billion, a PE ratio of 10.43, a PEG ratio of 0.62 and a beta of 1.18. The business has a 50 day moving average of $180.43 and a 200-day moving average of $168.81.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.84 by ($0.02). The company had revenue of $525.20 million for the quarter, compared to analysts’ expectations of $521.87 million. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. Affiliated Managers Group’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.08 EPS.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend is Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio is currently 0.23%.

Insider Activity

In related news, COO Thomas M. Wojcik sold 4,786 shares of Affiliated Managers Group stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $172.71, for a total value of $826,590.06. Following the completion of the sale, the chief operating officer now directly owns 84,392 shares in the company, valued at approximately $14,575,342.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Rizwan M. Jamal sold 8,622 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $172.89, for a total transaction of $1,490,657.58. Following the transaction, the insider now owns 128,457 shares in the company, valued at $22,208,930.73. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Thomas M. Wojcik sold 4,786 shares of Affiliated Managers Group stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $172.71, for a total transaction of $826,590.06. Following the completion of the sale, the chief operating officer now directly owns 84,392 shares of the company’s stock, valued at approximately $14,575,342.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,408 shares of company stock valued at $3,865,068 over the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Affiliated Managers Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Altshuler Shaham Ltd bought a new position in Affiliated Managers Group in the second quarter valued at about $28,000. Ashton Thomas Securities LLC bought a new stake in shares of Affiliated Managers Group during the 3rd quarter valued at $30,000. UMB Bank n.a. increased its stake in shares of Affiliated Managers Group by 481.3% in the 3rd quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock worth $33,000 after purchasing an additional 154 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in Affiliated Managers Group during the second quarter valued at $47,000. Finally, Goodman Advisory Group LLC purchased a new stake in Affiliated Managers Group in the second quarter worth about $50,000. 95.30% of the stock is owned by institutional investors.

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.