Affiliated Managers Group, Inc. (NYSE:AMG) – Equities research analysts at Jefferies Financial Group reduced their Q3 2019 earnings per share (EPS) estimates for shares of Affiliated Managers Group in a report issued on Tuesday, July 9th. Jefferies Financial Group analyst D. Fannon now forecasts that the asset manager will earn $3.17 per share for the quarter, down from their prior forecast of $3.33. Jefferies Financial Group also issued estimates for Affiliated Managers Group’s Q2 2020 earnings at $3.47 EPS and Q3 2020 earnings at $3.61 EPS.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, May 6th. The asset manager reported $3.26 EPS for the quarter, missing the Zacks’ consensus estimate of $3.27 by ($0.01). Affiliated Managers Group had a negative net margin of 4.77% and a positive return on equity of 17.72%. The firm had revenue of $543.10 million for the quarter, compared to analysts’ expectations of $541.42 million. During the same period in the previous year, the company earned $3.92 EPS. The company’s revenue was down 11.3% on a year-over-year basis.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Haynes International from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Barrington Research reissued a “buy” rating and set a $135.00 target price on shares of Affiliated Managers Group in a research report on Tuesday, April 30th. ValuEngine raised shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Citigroup cut shares of Apergy from a “buy” rating to a “neutral” rating and decreased their target price for the company from $41.00 to $34.00 in a research report on Tuesday. Finally, Deutsche Bank set a €230.00 ($267.44) target price on shares of adidas and gave the company a “neutral” rating in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $123.11.

NYSE:AMG opened at $91.02 on Wednesday. Affiliated Managers Group has a 52 week low of $83.10 and a 52 week high of $163.55. The company’s 50 day moving average price is $88.82. The stock has a market capitalization of $4.64 billion, a PE ratio of 6.28, a price-to-earnings-growth ratio of 0.65 and a beta of 1.63.

Hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its holdings in shares of Affiliated Managers Group by 0.7% in the first quarter. The Manufacturers Life Insurance Company now owns 1,179,673 shares of the asset manager’s stock worth $126,354,000 after buying an additional 7,655 shares during the last quarter. Norges Bank acquired a new stake in shares of Affiliated Managers Group in the fourth quarter worth $45,931,000. Dimensional Fund Advisors LP increased its stake in shares of Affiliated Managers Group by 15.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 344,237 shares of the asset manager’s stock worth $33,541,000 after acquiring an additional 46,000 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Affiliated Managers Group by 6.4% in the first quarter. Nisa Investment Advisors LLC now owns 20,060 shares of the asset manager’s stock worth $2,149,000 after acquiring an additional 1,200 shares during the period. Finally, Tyers Asset Management LLC increased its stake in shares of Affiliated Managers Group by 27.5% in the first quarter. Tyers Asset Management LLC now owns 45,824 shares of the asset manager’s stock worth $4,908,000 after acquiring an additional 9,872 shares during the period. 94.65% of the stock is owned by institutional investors and hedge funds.

In related news, insider Jay C. Horgen purchased 11,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was acquired at an average price of $93.19 per share, with a total value of $1,025,090.00. Following the completion of the acquisition, the insider now owns 115,527 shares in the company, valued at approximately $10,765,961.13. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jide James Zeitlin sold 54,350 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $92.22, for a total transaction of $5,012,157.00. The disclosure for this sale can be found here. Company insiders own 1.43% of the company’s stock.

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 and Estimates for Affiliated Managers Group (NYSE:AMG)

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