AMG FY2024 EPS Forecast Decreased by Barrington Research

Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) - Stock analysts at Barrington Research dropped their FY2024 earnings per share estimates for Affiliated Managers Group in a research note issued on Tuesday, November 5th. Barrington Research analyst A. Paris now anticipates that the asset manager will post earnings per share of $20.90 for the year, down from their previous estimate of $21.55. Barrington Research currently has a "Outperform" rating and a $200.00 target price on the stock. The consensus estimate for Affiliated Managers Group's current full-year earnings is $22.02 per share.

A number of other brokerages also recently weighed in on AMG. Bank of America increased their price target 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. StockNews.com cut shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft decreased their target price on Affiliated Managers Group from $219.00 to $204.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, TD Cowen cut Affiliated Managers Group from a "buy" rating to a "hold" rating and cut their price target for the company from $226.00 to $177.00 in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $195.50.

Affiliated Managers Group Price Performance

Shares of Affiliated Managers Group stock traded up $8.44 during midday trading on Wednesday, hitting $186.20. The company had a trading volume of 345,973 shares, compared to its average volume of 242,258. Affiliated Managers Group has a 1-year low of $129.57 and a 1-year high of $199.52. The business's 50 day simple moving average is $180.43 and its two-hundred day simple moving average is $168.81. The stock has a market cap of $5.55 billion, a PE ratio of 10.43, a P/E/G ratio of 0.62 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.84 by ($0.02). Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. The business had revenue of $525.20 million during the quarter, compared to analyst estimates of $521.87 million. During the same period last year, the business earned $4.08 EPS. The business's quarterly revenue was up 1.7% compared to the same quarter last year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Lazard Asset Management LLC lifted its stake in Affiliated Managers Group by 87.1% in the first quarter. Lazard Asset Management LLC now owns 18,536 shares of the asset manager's stock valued at $3,103,000 after buying an additional 8,628 shares during the period. Diversified Trust Co bought a new stake in shares of Affiliated Managers Group in the 2nd quarter valued at about $1,293,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Affiliated Managers Group in the 1st quarter valued at about $4,094,000. LSV Asset Management raised its position in shares of Affiliated Managers Group by 10.9% in the 1st quarter. LSV Asset Management now owns 238,504 shares of the asset manager's stock valued at $39,942,000 after acquiring an additional 23,454 shares during the period. Finally, Sei Investments Co. boosted its stake in Affiliated Managers Group by 40.8% during the 1st quarter. Sei Investments Co. now owns 48,185 shares of the asset manager's stock worth $8,069,000 after acquiring an additional 13,968 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 4,786 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $172.71, for a total transaction of $826,590.06. Following the sale, the chief operating officer now owns 84,392 shares of the company's stock, valued at $14,575,342.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Affiliated Managers Group news, insider Rizwan M. Jamal sold 8,622 shares of Affiliated Managers Group stock in a transaction on Friday, August 16th. The shares were sold at an average price of $172.89, for a total transaction of $1,490,657.58. Following the completion of the sale, the insider now owns 128,457 shares of the company's stock, valued at approximately $22,208,930.73. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the chief operating officer now owns 84,392 shares of the company's stock, valued at $14,575,342.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,408 shares of company stock worth $3,865,068 in the last three months. Insiders own 1.90% of the company's stock.

Affiliated Managers Group Dividend Announcement

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