Affiliated Managers Group (NYSE:AMG) Releases Earnings Results, Misses Estimates By $0.02 EPS

Affiliated Managers Group (NYSE:AMG - Get Free Report) issued its quarterly earnings results on Monday. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.84 by ($0.02), Briefing.com reports. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. The firm had revenue of $525.20 million for the quarter, compared to the consensus estimate of $521.87 million. During the same period in the previous year, the business posted $4.08 earnings per share. The business's revenue for the quarter was up 1.7% compared to the same quarter last year. Affiliated Managers Group updated its Q4 guidance to $5.94-6.17 EPS.

Affiliated Managers Group Trading Up 0.3 %

NYSE AMG traded up $0.59 during trading on Tuesday, reaching $177.65. 423,812 shares of the company's stock were exchanged, compared to its average volume of 241,774. Affiliated Managers Group has a fifty-two week low of $129.57 and a fifty-two week high of $199.52. The company's fifty day simple moving average is $180.34 and its 200-day simple moving average is $168.67. The firm has a market capitalization of $5.30 billion, a PE ratio of 10.47, a P/E/G ratio of 0.62 and a beta of 1.18.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date is Thursday, November 14th. Affiliated Managers Group's payout ratio is 0.23%.

Insider Transactions at Affiliated Managers Group

In related news, COO Thomas M. Wojcik sold 4,786 shares of the business's stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 84,392 shares of the company's stock, valued at approximately $14,575,342.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 4,786 shares of the business's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $172.71, for a total value of $826,590.06. Following the transaction, the chief operating officer now owns 84,392 shares in the company, valued at $14,575,342.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Rizwan M. Jamal sold 8,622 shares of Affiliated Managers Group stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $172.89, for a total value of $1,490,657.58. Following the sale, the insider now owns 128,457 shares of the company's stock, valued at approximately $22,208,930.73. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,408 shares of company stock valued at $3,865,068 over the last three months. 1.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Bank of America raised their price objective on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the company a "neutral" rating in a research report on Tuesday, July 30th. Barrington Research decreased their price target on shares of Affiliated Managers Group from $210.00 to $200.00 and set an "outperform" rating on the stock in a research report on Tuesday. StockNews.com downgraded Affiliated Managers Group from a "buy" rating to a "hold" rating in a research report 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 report on Tuesday. Finally, TD Cowen lowered Affiliated Managers Group from a "buy" rating to a "hold" rating and decreased their price target for the company from $226.00 to $177.00 in a research report on Tuesday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $195.50.

Affiliated Managers Group Company Profile

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.