Equities Analysts Offer Predictions for Affiliated Managers Group, Inc.’s Q1 2024 Earnings (NYSE:AMG)

Affiliated Managers Group, Inc. (NYSE:AMG) – Equities researchers at Barrington Research raised their Q1 2024 earnings estimates for Affiliated Managers Group in a report released on Tuesday, April 9th. Barrington Research analyst A. Paris now expects that the asset manager will post earnings per share of $5.25 for the quarter, up from their previous forecast of $5.13. Barrington Research has a “Outperform” rating and a $190.00 price objective on the stock. The consensus estimate for Affiliated Managers Group’s current full-year earnings is $21.55 per share. Barrington Research also issued estimates for Affiliated Managers Group’s Q2 2024 earnings at $4.85 EPS, Q3 2024 earnings at $4.90 EPS, Q4 2024 earnings at $7.50 EPS, FY2024 earnings at $22.50 EPS and FY2025 earnings at $25.00 EPS.

Separately, TD Cowen initiated coverage on Affiliated Managers Group in a research report on Thursday, January 4th. They issued an “outperform” rating and a $185.00 target price on the stock.

Affiliated Managers Group Trading Up 0.8 %

Affiliated Managers Group stock opened at $169.63 on Wednesday. The stock has a 50 day moving average of $159.49 and a 200-day moving average of $145.63. Affiliated Managers Group has a 52 week low of $120.22 and a 52 week high of $169.65. The stock has a market cap of $5.56 billion, a P/E ratio of 9.78, a price-to-earnings-growth ratio of 0.60 and a beta of 1.31.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, February 5th. The asset manager reported $6.86 EPS for the quarter, beating the consensus estimate of $6.03 by $0.83. The company had revenue of $502.70 million during the quarter, compared to analysts’ expectations of $524.98 million. Affiliated Managers Group had a return on equity of 16.29% and a net margin of 32.71%. The business’s revenue was down 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $7.28 EPS.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date was Wednesday, February 14th. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.23%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AMG. Morgan Stanley grew its holdings in Affiliated Managers Group by 907.4% during the fourth quarter. Morgan Stanley now owns 2,772,941 shares of the asset manager’s stock worth $439,317,000 after acquiring an additional 2,497,690 shares during the period. Envestnet Asset Management Inc. grew its holdings in Affiliated Managers Group by 4,914.7% during the first quarter. Envestnet Asset Management Inc. now owns 755,310 shares of the asset manager’s stock worth $1,960,000 after acquiring an additional 740,248 shares during the period. Norges Bank acquired a new position in Affiliated Managers Group during the fourth quarter worth about $74,919,000. Comerica Bank acquired a new position in Affiliated Managers Group during the second quarter worth about $69,748,000. Finally, Channing Capital Management LLC grew its holdings in Affiliated Managers Group by 688.9% during the fourth quarter. Channing Capital Management LLC now owns 474,542 shares of the asset manager’s stock worth $71,855,000 after acquiring an additional 414,389 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

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.