Wall Street brokerages expect Affiliated Managers Group, Inc. (NYSE:AMG) to report $477.27 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Affiliated Managers Group's earnings, with the highest sales estimate coming in at $480.00 million and the lowest estimate coming in at $472.70 million. Affiliated Managers Group posted sales of $549.00 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 13.1%. The company is scheduled to issue its next earnings results before the market opens on Monday, October 26th.
On average, analysts expect that Affiliated Managers Group will report full-year sales of $1.94 billion for the current fiscal year, with estimates ranging from $1.92 billion to $1.95 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.93 billion, with estimates ranging from $1.85 billion to $2.00 billion. Zacks' sales averages are an average based on a survey of sell-side research firms that follow Affiliated Managers Group.
Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, July 27th. The asset manager reported $2.74 earnings per share for the quarter, beating the Zacks' consensus estimate of $2.71 by $0.03. The business had revenue of $471.10 million during the quarter, compared to the consensus estimate of $451.28 million. Affiliated Managers Group had a return on equity of 18.94% and a net margin of 5.95%. Affiliated Managers Group's quarterly revenue was down 20.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.33 earnings per share.
A number of research firms recently weighed in on AMG. ValuEngine downgraded Affiliated Managers Group from a "sell" rating to a "strong sell" rating in a report on Monday, August 3rd. Credit Suisse Group decreased their price target on Affiliated Managers Group from $72.00 to $71.00 and set a "neutral" rating for the company in a report on Tuesday, July 28th. Zacks Investment Research downgraded Affiliated Managers Group from a "buy" rating to a "hold" rating and set a $75.00 price target for the company. in a report on Monday, June 29th. Deutsche Bank Aktiengesellschaft decreased their price target on Affiliated Managers Group from $85.00 to $81.00 and set a "hold" rating for the company in a report on Thursday, July 9th. Finally, Barrington Research raised their target price on Affiliated Managers Group from $75.00 to $82.00 and gave the company an "outperform" rating in a research note on Monday, July 27th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The company has an average rating of "Hold" and a consensus target price of $74.50.
NYSE AMG opened at $77.48 on Tuesday. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 31.12, a PEG ratio of 0.55 and a beta of 1.43. Affiliated Managers Group has a twelve month low of $44.37 and a twelve month high of $88.95. The stock has a fifty day simple moving average of $70.08 and a 200 day simple moving average of $69.21.
In other Affiliated Managers Group news, CEO Jay C. Horgen purchased 5,000 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The shares were acquired at an average price of $67.90 per share, with a total value of $339,500.00. Following the transaction, the chief executive officer now owns 142,667 shares in the company, valued at $9,687,089.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Tracy A. Atkinson purchased 1,469 shares of the company's stock in a transaction that occurred on Wednesday, September 9th. The stock was acquired at an average cost of $68.46 per share, for a total transaction of $100,567.74. Following the transaction, the director now owns 1,469 shares in the company, valued at approximately $100,567.74. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 8,469 shares of company stock worth $577,308. 1.69% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. MERIAN GLOBAL INVESTORS UK Ltd lifted its holdings in Affiliated Managers Group by 1,645.7% during the second quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 521,298 shares of the asset manager's stock worth $38,867,000 after acquiring an additional 491,436 shares during the period. Victory Capital Management Inc. grew its stake in Affiliated Managers Group by 2,667.0% in the 2nd quarter. Victory Capital Management Inc. now owns 366,874 shares of the asset manager's stock valued at $27,354,000 after purchasing an additional 353,615 shares during the period. LGT Capital Partners LTD. grew its stake in Affiliated Managers Group by 21.1% in the 3rd quarter. LGT Capital Partners LTD. now owns 1,367,370 shares of the asset manager's stock valued at $93,501,000 after purchasing an additional 237,834 shares during the period. AJO LP grew its stake in Affiliated Managers Group by 787.5% in the 2nd quarter. AJO LP now owns 170,458 shares of the asset manager's stock valued at $12,708,000 after purchasing an additional 151,252 shares during the period. Finally, Prudential Financial Inc. grew its stake in Affiliated Managers Group by 11.1% in the 2nd quarter. Prudential Financial Inc. now owns 874,598 shares of the asset manager's stock valued at $65,210,000 after purchasing an additional 87,140 shares during the period. 98.80% of the stock is owned by institutional investors.
Affiliated Managers Group Company Profile
Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.
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