Affiliated Managers Group (NYSE:AMG) Issues Earnings Results

Affiliated Managers Group (NYSE:AMG) released its quarterly earnings results on Monday. The asset manager reported $5.37 earnings per share for the quarter, beating the consensus estimate of $5.21 by $0.16, Yahoo Finance reports. Affiliated Managers Group had a return on equity of 16.29% and a net margin of 32.71%. The firm had revenue of $499.90 million for the quarter, compared to analysts’ expectations of $524.53 million. During the same quarter last year, the firm posted $4.18 EPS. Affiliated Managers Group updated its Q2 guidance to $4.50-$4.60 EPS.

Affiliated Managers Group Stock Up 0.9 %

Shares of AMG traded up $1.47 during trading hours on Thursday, hitting $158.24. The company had a trading volume of 2,744 shares, compared to its average volume of 248,033. The stock’s 50 day moving average price is $161.51 and its 200 day moving average price is $150.05. Affiliated Managers Group has a 52-week low of $120.22 and a 52-week high of $169.65. The firm has a market cap of $5.14 billion, a P/E ratio of 9.04, a P/E/G ratio of 0.56 and a beta of 1.31.

Affiliated Managers Group Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently commented on AMG. TD Cowen decreased their price target on shares of Affiliated Managers Group from $218.00 to $198.00 and set a “buy” rating on the stock in a report on Tuesday. Barrington Research reaffirmed an “outperform” rating and set a $190.00 price target on shares of Affiliated Managers Group in a research note on Tuesday.

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.