Affiliated Managers Group (NYSE:AMG) Posts Quarterly Earnings Results

Affiliated Managers Group (NYSE:AMG) issued its earnings results on Monday. The asset manager reported $4.82 EPS for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02), Briefing.com reports. Affiliated Managers Group had a return on equity of 16.50% and a net margin of 31.51%. The business had revenue of $525.20 million during the quarter, compared to analysts’ expectations of $521.87 million. During the same quarter in the previous year, the business earned $4.08 EPS. Affiliated Managers Group’s revenue for the quarter was up 1.7% compared to the same quarter last year. Affiliated Managers Group updated its Q4 guidance to $5.94-6.17 EPS.

Affiliated Managers Group Trading Down 8.6 %

Shares of Affiliated Managers Group stock opened at $177.06 on Tuesday. Affiliated Managers Group has a 12-month low of $129.57 and a 12-month high of $199.52. The company has a market cap of $5.28 billion, a P/E ratio of 10.40, a PEG ratio of 0.62 and a beta of 1.18. The company’s fifty day simple moving average is $180.34 and its two-hundred day simple moving average is $168.67.

Affiliated Managers Group Dividend Announcement

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

Analysts Set New Price Targets

AMG has been the topic of several analyst reports. Barrington Research reiterated an “outperform” rating and issued a $210.00 price objective on shares of Affiliated Managers Group in a report on Wednesday, October 30th. TD Cowen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating and lowered their price objective for the company from $226.00 to $177.00 in a research report on Tuesday. Bank of America increased their price objective on Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Affiliated Managers Group from $202.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, StockNews.com cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Affiliated Managers Group currently has an average rating of “Hold” and an average price target of $198.25.

Insider Transactions at Affiliated Managers Group

In related news, insider Rizwan M. Jamal sold 8,622 shares of the business’s stock in a transaction dated 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Rizwan M. Jamal sold 8,622 shares of Affiliated Managers Group stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $172.89, for a total transaction of $1,490,657.58. Following the sale, the insider now directly owns 128,457 shares in the company, valued at $22,208,930.73. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jay C. Horgen sold 9,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $171.98, for a total value of $1,547,820.00. Following the completion of the sale, the chief executive officer now directly owns 377,276 shares in the company, valued at approximately $64,883,926.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,408 shares of company stock valued at $3,865,068. Company insiders own 1.90% of the company’s stock.

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.