Affiliated Managers Group (NYSE:AMG) Posts Earnings Results, Misses Expectations By $0.02 EPS

Affiliated Managers Group (NYSE:AMG) announced its quarterly earnings data on Monday. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02), Briefing.com reports. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. The firm had revenue of $525.20 million during the quarter, compared to the consensus estimate of $521.87 million. During the same period last year, the business earned $4.08 earnings per share. The business’s revenue 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 Stock Performance

Shares of AMG stock traded down $1.66 during mid-day trading on Thursday, hitting $184.54. The company’s stock had a trading volume of 35,287 shares, compared to its average volume of 241,326. The company has a market cap of $5.50 billion, a PE ratio of 10.93, a P/E/G ratio of 0.62 and a beta of 1.18. The company’s fifty day simple moving average is $180.73 and its 200-day simple moving average is $168.93. Affiliated Managers Group has a 52 week low of $129.57 and a 52 week high of $199.52.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is 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 currently 0.23%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Affiliated Managers Group from $219.00 to $204.00 and set a “buy” rating for the company in a research report on Tuesday. 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 cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $226.00 to $177.00 in a research note on Tuesday. Bank of America raised their target price on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, Barrington Research decreased their price target on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company 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 data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $195.50.

Insider Buying and Selling

In other news, insider Rizwan M. Jamal sold 8,622 shares of Affiliated Managers Group stock in a transaction on Friday, August 16th. The shares were sold at an average price of $172.89, for a total value of $1,490,657.58. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Jay C. Horgen sold 9,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $171.98, for a total value of $1,547,820.00. Following the transaction, the chief executive officer now owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rizwan M. Jamal sold 8,622 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $172.89, for a total value of $1,490,657.58. Following the completion of the sale, the insider now directly owns 128,457 shares of the company’s stock, valued at approximately $22,208,930.73. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,408 shares of company stock valued at $3,865,068 over the last 90 days. 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.