Zacks Research Equities Analysts Boost Earnings Estimates for Affiliated Managers Group, Inc. (NYSE:AMG)

Affiliated Managers Group, Inc. (NYSE:AMG) – Stock analysts at Zacks Research upped their Q3 2024 EPS estimates for Affiliated Managers Group in a report released on Monday, August 19th. Zacks Research analyst R. Department now anticipates that the asset manager will earn $4.73 per share for the quarter, up from their previous estimate of $4.63. The consensus estimate for Affiliated Managers Group’s current full-year earnings is $21.82 per share. Zacks Research also issued estimates for Affiliated Managers Group’s FY2024 earnings at $21.63 EPS, Q1 2025 earnings at $5.18 EPS, Q3 2025 earnings at $6.48 EPS, FY2025 earnings at $24.87 EPS and Q1 2026 earnings at $5.84 EPS.

A number of other research analysts have also recently issued reports on AMG. Barrington Research lifted their price objective on shares of Affiliated Managers Group from $190.00 to $210.00 and gave the company an “outperform” rating in a report on Monday, July 29th. TD Cowen boosted their price objective on Affiliated Managers Group from $201.00 to $226.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. StockNews.com cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price target on Affiliated Managers Group from $202.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, Bank of America lifted their price objective on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $199.80.

Affiliated Managers Group Trading Up 1.4 %

NYSE AMG opened at $172.50 on Tuesday. The company has a market cap of $5.50 billion, a P/E ratio of 9.44, a PEG ratio of 0.62 and a beta of 1.22. The company has a fifty day simple moving average of $164.18 and a 200 day simple moving average of $161.27. Affiliated Managers Group has a 12-month low of $120.22 and a 12-month high of $189.81.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, July 29th. The asset manager reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.60 by $0.07. The business had revenue of $500.30 million for the quarter, compared to analyst estimates of $518.03 million. Affiliated Managers Group had a return on equity of 16.50% and a net margin of 31.51%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.45 earnings per share.

Hedge Funds Weigh In On Affiliated Managers Group

Large investors have recently modified their holdings of the business. Corient Private Wealth LLC grew its stake in Affiliated Managers Group by 98.8% in the 4th quarter. Corient Private Wealth LLC now owns 9,551 shares of the asset manager’s stock valued at $1,446,000 after buying an additional 4,747 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Affiliated Managers Group by 87.1% during the 1st quarter. Lazard Asset Management LLC now owns 18,536 shares of the asset manager’s stock worth $3,103,000 after purchasing an additional 8,628 shares in the last quarter. Bridgewater Associates LP boosted its stake in Affiliated Managers Group by 24.9% in the 4th quarter. Bridgewater Associates LP now owns 127,360 shares of the asset manager’s stock worth $19,285,000 after purchasing an additional 25,365 shares during the period. Diversified Trust Co bought a new stake in shares of Affiliated Managers Group during the second quarter valued at about $1,293,000. Finally, Charles Carroll Financial Partners LLC lifted its holdings in shares of Affiliated Managers Group by 62.3% in the fourth quarter. Charles Carroll Financial Partners LLC now owns 13,150 shares of the asset manager’s stock worth $1,991,000 after buying an additional 5,050 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insider Buying and Selling at Affiliated Managers Group

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 transaction of $1,547,820.00. Following the sale, the chief executive officer now directly owns 377,276 shares in the company, valued at approximately $64,883,926.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Rizwan M. Jamal sold 8,622 shares of the company’s 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 of the company’s stock, valued at approximately $22,208,930.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jay C. Horgen sold 9,000 shares of Affiliated Managers Group stock in a transaction dated 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 directly owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. The disclosure for this sale can be found here. Insiders sold 22,408 shares of company stock worth $3,865,068 in the last quarter. 1.90% of the stock is currently owned by company insiders.

Affiliated Managers Group Announces Dividend

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

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.