Affiliated Managers Group (NYSE:AMG) Issues Quarterly Earnings Results

Affiliated Managers Group (NYSE:AMG) issued its earnings results 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 company had revenue of $525.20 million during the quarter, compared to analysts’ expectations of $521.87 million. During the same period last year, the business posted $4.08 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. Affiliated Managers Group updated its Q4 guidance to $5.94-6.17 EPS.

Affiliated Managers Group Stock Performance

Affiliated Managers Group stock opened at $186.20 on Thursday. The stock has a fifty day moving average of $180.73 and a two-hundred day moving average of $168.93. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 0.62 and a beta of 1.18. Affiliated Managers Group has a fifty-two week low of $129.57 and a fifty-two week high of $199.52.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be given 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 payout ratio is 0.23%.

Insiders Place Their Bets

In other news, CEO Jay C. Horgen sold 9,000 shares of Affiliated Managers Group stock in a transaction on Monday, August 19th. The stock was sold at an average price of $171.98, for a total value of $1,547,820.00. Following the completion of the sale, the chief executive officer now owns 377,276 shares of the company’s stock, valued at $64,883,926.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jay C. Horgen sold 9,000 shares of Affiliated Managers Group stock in a transaction on Monday, August 19th. The stock was sold at an average price of $171.98, for a total value of $1,547,820.00. Following the completion of the sale, the chief executive officer now owns 377,276 shares of the company’s stock, valued at $64,883,926.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Thomas M. Wojcik sold 4,786 shares of Affiliated Managers Group stock in a transaction on Friday, August 16th. The shares were sold at an average price of $172.71, for a total value 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 approximately $14,575,342.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,408 shares of company stock valued at $3,865,068. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

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

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.