Affiliated Managers Group (NYSE:AMG – Get Free Report) updated its second quarter earnings guidance on Monday. The company provided EPS guidance of $4.50-$4.60 for the period, compared to the consensus EPS estimate of $4.86.
Analyst Ratings Changes
Several research firms have issued reports on AMG. Barrington Research restated an outperform rating and set a $190.00 price target on shares of Affiliated Managers Group in a report on Tuesday. TD Cowen lowered their price objective on shares of Affiliated Managers Group from $218.00 to $198.00 and set a buy rating for the company in a research note on Tuesday.
Read Our Latest Stock Analysis on Affiliated Managers Group
Affiliated Managers Group Trading Up 1.0 %
Affiliated Managers Group (NYSE:AMG – Get Free Report) last posted its quarterly earnings results on Monday, May 6th. The asset manager reported $5.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.21 by $0.16. Affiliated Managers Group had a net margin of 32.71% and a return on equity of 16.29%. The business had revenue of $499.90 million during the quarter, compared to the consensus estimate of $524.53 million. During the same quarter last year, the firm posted $4.18 EPS. As a group, research analysts forecast that Affiliated Managers Group will post 22.03 EPS for the current year.
Affiliated Managers Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Wednesday, May 15th. Affiliated Managers Group’s payout ratio is currently 0.23%.
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.
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