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

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

Affiliated Managers Group Price Performance

AMG stock opened at $177.65 on Wednesday. The firm’s fifty day simple moving average is $180.43 and its 200-day simple moving average is $168.81. The company has a market capitalization of $5.30 billion, a P/E ratio of 10.43, a price-to-earnings-growth ratio of 0.62 and a beta of 1.18. Affiliated Managers Group has a 12 month low of $129.57 and a 12 month high of $199.52.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend is Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.23%.

Insider Activity

In other news, CEO Jay C. Horgen sold 9,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $171.98, for a total value of $1,547,820.00. Following the sale, the chief executive officer now directly owns 377,276 shares of the company’s stock, valued at $64,883,926.48. This represents 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. In related news, CEO Jay C. Horgen sold 9,000 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $171.98, for a total value of $1,547,820.00. Following the completion of the transaction, the chief executive officer now directly owns 377,276 shares in the company, valued at $64,883,926.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Thomas M. Wojcik sold 4,786 shares of the business’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 completion of the transaction, the chief operating officer now owns 84,392 shares of the company’s stock, valued at approximately $14,575,342.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,408 shares of company stock valued at $3,865,068 in the last ninety days. Insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

AMG has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Affiliated Managers Group from $219.00 to $204.00 and set a “buy” rating on the stock in a research report on Tuesday. TD Cowen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $226.00 to $177.00 in a research report on Tuesday. Bank of America boosted their target price on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Barrington Research dropped their target price 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. Finally, StockNews.com downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Affiliated Managers Group presently has an average rating of “Hold” and an average 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.