Research Analysts Set Expectations for Affiliated Managers Group, Inc.’s Q2 2017 Earnings (NYSE:AMG)
Affiliated Managers Group, Inc. (NYSE:AMG) – Equities research analysts at Jefferies Group lowered their Q2 2017 EPS estimates for shares of Affiliated Managers Group in a report released on Tuesday. Jefferies Group analyst D. Fannon now expects that the asset manager will post earnings per share of $3.22 for the quarter, down from their prior forecast of $3.23. Jefferies Group currently has a “Buy” rating and a $197.00 price target on the stock. Jefferies Group also issued estimates for Affiliated Managers Group’s Q3 2017 earnings at $3.20 EPS and FY2018 earnings at $16.00 EPS.
A number of other research firms have also recently commented on AMG. BidaskClub upgraded Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Credit Suisse Group reissued a “buy” rating and set a $207.00 price target on shares of Affiliated Managers Group in a report on Sunday. Zacks Investment Research raised Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $186.00 price target for the company in a report on Tuesday, July 4th. Deutsche Bank AG cut their price target on Affiliated Managers Group from $183.00 to $182.00 and set a “hold” rating for the company in a report on Tuesday, April 18th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $185.00 price target on shares of Affiliated Managers Group in a report on Tuesday, April 4th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $189.38.
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Affiliated Managers Group (NYSE AMG) opened at 174.03 on Wednesday. The company has a market cap of $9.85 billion, a P/E ratio of 19.80 and a beta of 1.64. The stock’s 50 day moving average price is $158.75 and its 200 day moving average price is $157.85. Affiliated Managers Group has a 1-year low of $130.48 and a 1-year high of $174.78.
Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, May 1st. The asset manager reported $3.21 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.03. The company had revenue of $544.30 million during the quarter, compared to the consensus estimate of $551.56 million. Affiliated Managers Group had a return on equity of 17.53% and a net margin of 22.31%. The firm’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.94 EPS.
In other news, CEO Sean M. Healey sold 56,928 shares of the company’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $161.07, for a total value of $9,169,392.96. Following the completion of the transaction, the chief executive officer now owns 206,689 shares of the company’s stock, valued at $33,291,397.23. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Dwight D. Churchill sold 3,277 shares of the company’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $163.30, for a total value of $535,134.10. Following the completion of the transaction, the director now directly owns 7,301 shares of the company’s stock, valued at approximately $1,192,253.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,107 shares of company stock valued at $11,065,554. Corporate insiders own 1.40% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue acquired a new position in Affiliated Managers Group during the first quarter worth $104,000. Creative Planning raised its position in shares of Affiliated Managers Group by 15.0% in the second quarter. Creative Planning now owns 705 shares of the asset manager’s stock worth $117,000 after buying an additional 92 shares during the last quarter. Financial Architects Inc raised its position in shares of Affiliated Managers Group by 5,340.0% in the first quarter. Financial Architects Inc now owns 816 shares of the asset manager’s stock worth $134,000 after buying an additional 801 shares during the last quarter. FNY Partners Fund LP purchased a new position in shares of Affiliated Managers Group during the first quarter worth approximately $163,000. Finally, Pacer Advisors Inc. raised its position in shares of Affiliated Managers Group by 3.1% in the first quarter. Pacer Advisors Inc. now owns 1,096 shares of the asset manager’s stock worth $180,000 after buying an additional 33 shares during the last quarter. 94.89% of the stock is owned by hedge funds and other institutional investors.
About Affiliated Managers Group
Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.
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