Affiliated Managers Group (NYSE:AMG) Releases Q3 Earnings Guidance

Affiliated Managers Group (NYSE:AMG) issued an update on its third quarter earnings guidance on Monday morning. The company provided EPS guidance of $4.68-4.91 for the period, compared to the consensus EPS estimate of $4.69.

Affiliated Managers Group Stock Performance

AMG stock opened at $184.73 on Wednesday. The company has a fifty day moving average price of $161.16 and a 200-day moving average price of $159.34. The company has a market capitalization of $5.89 billion, a P/E ratio of 10.25, a PEG ratio of 0.64 and a beta of 1.22. Affiliated Managers Group has a 52-week low of $120.22 and a 52-week high of $187.29.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, July 29th. The asset manager reported $4.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.60 by $0.07. The firm had revenue of $500.30 million during the quarter, compared to the consensus estimate of $518.03 million. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.27%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $4.45 earnings per share. As a group, sell-side analysts forecast that Affiliated Managers Group will post 21.59 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend is Thursday, August 8th. Affiliated Managers Group’s payout ratio is currently 0.22%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Affiliated Managers Group from $188.00 to $202.00 and gave the stock a buy rating in a research note on Tuesday. Barrington Research lifted their target price on shares of Affiliated Managers Group from $190.00 to $210.00 and gave the stock an outperform rating in a research note on Monday. Bank of America lifted their target price on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the stock a neutral rating in a research note on Tuesday. TD Cowen lifted their target price on shares of Affiliated Managers Group from $201.00 to $226.00 and gave the stock a buy rating in a research note on Tuesday. Finally, StockNews.com downgraded shares of Affiliated Managers Group from a buy rating to a hold rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $199.20.

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.