Affiliated Managers Group, Inc. (NYSE:AMG) Forecasted to Post Q2 2024 Earnings of $4.80 Per Share

Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) - Analysts at Barrington Research dropped their Q2 2024 earnings per share estimates for shares of Affiliated Managers Group in a research note issued to investors on Monday, May 6th. Barrington Research analyst A. Paris now expects that the asset manager will post earnings per share of $4.80 for the quarter, down from their prior forecast of $4.85. Barrington Research currently has a "Outperform" rating and a $190.00 price target on the stock. The consensus estimate for Affiliated Managers Group's current full-year earnings is $22.03 per share. Barrington Research also issued estimates for Affiliated Managers Group's Q3 2024 earnings at $4.85 EPS, Q4 2024 earnings at $7.22 EPS, FY2024 earnings at $22.25 EPS and FY2025 earnings at $24.25 EPS.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its quarterly earnings results on Monday, May 6th. The asset manager reported $5.37 EPS for the quarter, beating the consensus estimate of $5.21 by $0.16. The business had revenue of $499.90 million during the quarter, compared to analysts' expectations of $524.53 million. Affiliated Managers Group had a return on equity of 16.29% and a net margin of 32.71%. During the same quarter in the previous year, the business posted $4.18 EPS.

Separately, TD Cowen dropped 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.

Affiliated Managers Group Trading Up 0.4 %

NYSE:AMG traded up $0.56 during mid-day trading on Thursday, hitting $157.33. 192,447 shares of the company's stock traded hands, compared to its average volume of 250,152. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 9.04, a price-to-earnings-growth ratio of 0.56 and a beta of 1.31. Affiliated Managers Group has a 12 month low of $120.22 and a 12 month high of $169.65. The firm has a 50 day moving average of $161.51 and a two-hundred day moving average of $150.05.

Affiliated Managers Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Affiliated Managers Group's dividend payout ratio is 0.23%.

Hedge Funds Weigh In On Affiliated Managers Group

Several institutional investors have recently modified their holdings of AMG. Lindbrook Capital LLC grew its holdings in shares of Affiliated Managers Group by 80.0% during the fourth quarter. Lindbrook Capital LLC now owns 162 shares of the asset manager's stock worth $25,000 after buying an additional 72 shares in the last quarter. Denali Advisors LLC raised its stake in Affiliated Managers Group by 429.2% in the first quarter. Denali Advisors LLC now owns 254 shares of the asset manager's stock valued at $43,000 after buying an additional 206 shares during the period. GAMMA Investing LLC acquired a new stake in Affiliated Managers Group during the 4th quarter valued at $62,000. Quadrant Capital Group LLC grew its stake in Affiliated Managers Group by 45.6% in the 4th quarter. Quadrant Capital Group LLC now owns 591 shares of the asset manager's stock valued at $89,000 after buying an additional 185 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Affiliated Managers Group by 17.1% during the fourth quarter. Blue Trust Inc. now owns 617 shares of the asset manager's stock worth $93,000 after purchasing an additional 90 shares during the period. Institutional investors own 95.30% of the company's stock.

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.