Affiliated Managers Group (NYSE:AMG) Updates Q4 Earnings Guidance

Affiliated Managers Group (NYSE:AMG) updated its fourth quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $5.94-6.17 for the period, compared to the consensus estimate of $7.26.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AMG. Bank of America lifted their price objective on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. TD Cowen cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their price target for the stock from $226.00 to $177.00 in a research report on Tuesday. StockNews.com downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lowered their target price on Affiliated Managers Group from $219.00 to $204.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Barrington Research reduced their price target on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $195.50.

Affiliated Managers Group Trading Down 0.8 %

Shares of Affiliated Managers Group stock traded down $1.55 during trading on Thursday, hitting $184.65. 18,340 shares of the stock were exchanged, compared to its average volume of 241,248. The company has a fifty day moving average price of $180.73 and a 200-day moving average price of $168.93. The stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of 10.93, a price-to-earnings-growth ratio of 0.62 and a beta of 1.18. Affiliated Managers Group has a 1-year low of $129.57 and a 1-year high of $199.52.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). 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 for the quarter, compared to analyst estimates of $521.87 million. During the same period last year, the firm earned $4.08 EPS. Affiliated Managers Group’s quarterly revenue was up 1.7% compared to the same quarter last year. Equities research analysts forecast that Affiliated Managers Group will post 22.02 EPS for the current fiscal year.

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. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date is Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio is 0.23%.

Insiders Place Their Bets

In other Affiliated Managers Group news, insider Rizwan M. Jamal sold 8,622 shares of the firm’s 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 completion of the sale, the insider now directly owns 128,457 shares in the company, valued at $22,208,930.73. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Affiliated Managers Group news, insider Rizwan M. Jamal sold 8,622 shares of the stock in a transaction 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 transaction, the insider now owns 128,457 shares in the company, valued at $22,208,930.73. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Thomas M. Wojcik sold 4,786 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were 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 $14,575,342.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders 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 company insiders.

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.