Affiliated Managers Group (NYSE:AMG) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Affiliated Managers Group (NYSE:AMG) issued its quarterly earnings results on Sunday. The asset manager reported $4.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.24 by $0.04, MarketWatch Earnings reports. Affiliated Managers Group had a return on equity of 19.15% and a net margin of 5.37%. The company had revenue of $559.30 million for the quarter, compared to the consensus estimate of $554.48 million. During the same quarter in the prior year, the business earned $3.26 EPS. Affiliated Managers Group’s revenue was up 10.3% on a year-over-year basis.

NYSE AMG traded up $1.66 during mid-day trading on Tuesday, hitting $163.07. The stock had a trading volume of 11,119 shares, compared to its average volume of 422,905. Affiliated Managers Group has a 52-week low of $56.80 and a 52-week high of $165.86. The company has a market cap of $6.80 billion, a price-to-earnings ratio of 69.68, a P/E/G ratio of 0.53 and a beta of 1.44. The company has a 50 day simple moving average of $153.90 and a 200 day simple moving average of $118.22.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 27th. Investors of record on Thursday, May 13th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date is Wednesday, May 12th. Affiliated Managers Group’s payout ratio is currently 0.28%.

In related news, Director Reuben Jeffery III bought 2,500 shares of the stock in a transaction on Wednesday, February 10th. The shares were purchased at an average price of $145.53 per share, for a total transaction of $363,825.00. Following the acquisition, the director now owns 17,500 shares in the company, valued at $2,546,775. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jay C. Horgen bought 4,000 shares of the stock in a transaction on Tuesday, February 9th. The shares were bought at an average price of $136.23 per share, for a total transaction of $544,920.00. Following the acquisition, the chief executive officer now owns 136,026 shares in the company, valued at approximately $18,530,821.98. The disclosure for this purchase can be found here. Company insiders own 1.69% of the company’s stock.

AMG has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft upped their price target on Affiliated Managers Group from $150.00 to $152.00 and gave the stock a “hold” rating in a report on Tuesday. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their target price on Affiliated Managers Group from $206.00 to $213.00 and gave the stock a “buy” rating in a research note on Tuesday. Barrington Research reissued an “outperform” rating and set a $180.00 target price (up from $145.00) on shares of Affiliated Managers Group in a research note on Monday. Citigroup increased their target price on Affiliated Managers Group from $206.00 to $213.00 in a research note on Tuesday. Finally, Credit Suisse Group increased their target price on Affiliated Managers Group from $146.00 to $148.00 and gave the stock a “neutral” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $150.29.

About Affiliated Managers Group

Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

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Earnings History for Affiliated Managers Group (NYSE:AMG)

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