FY2024 Earnings Estimate for AMG Issued By Zacks Research

Affiliated Managers Group, Inc. (NYSE:AMG) – Equities research analysts at Zacks Research cut their FY2024 earnings per share estimates for shares of Affiliated Managers Group in a research note issued on Thursday, January 2nd. Zacks Research analyst R. Department now forecasts that the asset manager will post earnings per share of $20.89 for the year, down from their prior forecast of $21.01. The consensus estimate for Affiliated Managers Group’s current full-year earnings is $20.91 per share. Zacks Research also issued estimates for Affiliated Managers Group’s Q4 2024 earnings at $6.03 EPS, Q1 2025 earnings at $5.07 EPS, Q2 2025 earnings at $4.90 EPS, Q3 2025 earnings at $5.57 EPS, Q2 2026 earnings at $6.30 EPS and Q3 2026 earnings at $6.74 EPS.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 EPS for the quarter, missing the consensus estimate of $4.84 by ($0.02). The business had revenue of $525.20 million during the quarter, compared to analyst estimates of $521.87 million. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the business posted $4.08 earnings per share.

Other equities analysts also recently issued reports about the stock. TD Cowen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from $226.00 to $177.00 in a report on Tuesday, November 5th. Barrington Research reduced their price target on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, The Goldman Sachs Group cut Affiliated Managers Group from a “buy” rating to a “neutral” rating and reduced their target price for the company from $193.00 to $191.00 in a report on Monday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $195.40.

Affiliated Managers Group Price Performance

Shares of NYSE:AMG opened at $180.40 on Monday. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 0.69 and a beta of 1.15. The business’s 50 day moving average price is $186.07 and its 200-day moving average price is $177.71. Affiliated Managers Group has a 1 year low of $145.36 and a 1 year high of $199.52.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were issued a $0.01 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. Affiliated Managers Group’s payout ratio is 0.26%.

Hedge Funds Weigh In On Affiliated Managers Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMG. Ariel Investments LLC grew its stake in shares of Affiliated Managers Group by 8.7% in the 2nd quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager’s stock valued at $225,411,000 after buying an additional 115,808 shares during the period. Goodman Financial Corp acquired a new position in Affiliated Managers Group in the third quarter valued at approximately $14,035,000. Victory Capital Management Inc. grew its position in Affiliated Managers Group by 150.1% in the second quarter. Victory Capital Management Inc. now owns 99,407 shares of the asset manager’s stock worth $15,530,000 after acquiring an additional 59,659 shares during the period. Barclays PLC increased its stake in Affiliated Managers Group by 261.0% during the third quarter. Barclays PLC now owns 76,488 shares of the asset manager’s stock worth $13,600,000 after acquiring an additional 55,302 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in Affiliated Managers Group by 328.2% during the third quarter. Bank of Montreal Can now owns 70,457 shares of the asset manager’s stock worth $12,420,000 after acquiring an additional 54,003 shares during the last quarter. Institutional investors and hedge funds own 95.30% 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.