Affiliated Managers Group (NYSE:AMG) Issues Earnings Results

Affiliated Managers Group (NYSE:AMG) issued its quarterly earnings results on Monday. The asset manager reported $4.82 earnings per share for the quarter, missing the consensus estimate of $4.84 by ($0.02), Briefing.com reports. 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 during the quarter, compared to analysts’ expectations of $521.87 million. During the same quarter in the previous year, the company posted $4.08 earnings per share. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. Affiliated Managers Group updated its Q4 guidance to $5.94-6.17 EPS.

Affiliated Managers Group Stock Performance

Shares of AMG opened at $186.20 on Thursday. The stock has a market capitalization of $5.55 billion, a PE ratio of 10.93, a P/E/G 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. The company’s 50-day simple moving average is $180.73 and its 200-day simple moving average is $168.93.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be paid a $0.01 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. Affiliated Managers Group’s payout ratio is presently 0.23%.

Insider Buying and Selling at Affiliated Managers Group

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 4,786 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 84,392 shares in the company, valued at $14,575,342.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Jay C. Horgen sold 9,000 shares of Affiliated Managers Group stock in a transaction on Monday, August 19th. The shares were sold at an average price of $171.98, for a total value of $1,547,820.00. Following the transaction, the chief executive officer now directly owns 377,276 shares of the company’s stock, valued at $64,883,926.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Thomas M. Wojcik sold 4,786 shares of the company’s stock in a transaction on 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 owns 84,392 shares of the company’s stock, valued at approximately $14,575,342.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,408 shares of company stock valued at $3,865,068 in the last 90 days. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on AMG shares. Deutsche Bank Aktiengesellschaft reduced their price objective on Affiliated Managers Group from $219.00 to $204.00 and set a “buy” rating on the stock in a report on Tuesday. Barrington Research dropped their target price on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday. StockNews.com downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. TD Cowen downgraded 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. Finally, Bank of America lifted their target price 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. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.