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

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

Affiliated Managers Group Trading Up 4.7 %

AMG stock traded up $8.44 during midday trading on Wednesday, reaching $186.20. 345,973 shares of the company’s stock traded hands, compared to its average volume of 242,258. Affiliated Managers Group has a 52-week low of $129.57 and a 52-week high of $199.52. The stock has a market cap of $5.55 billion, a P/E ratio of 10.43, a PEG ratio of 0.62 and a beta of 1.18. The stock’s 50-day moving average is $180.43 and its 200 day moving average is $168.81.

Affiliated Managers Group Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Bank of America upped 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 note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lowered their price objective 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 lowered their price objective for the company from $226.00 to $177.00 in a research report on Tuesday. StockNews.com downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Finally, Barrington Research lowered their price objective 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. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $195.50.

Insider Buying and Selling at Affiliated Managers Group

In other Affiliated Managers Group news, CEO Jay C. Horgen sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $171.98, for a total transaction of $1,547,820.00. Following the completion of the sale, the chief executive officer now directly owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Rizwan M. Jamal sold 8,622 shares of the stock in a transaction on 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 completion of the sale, the insider now directly owns 128,457 shares of the company’s stock, valued at $22,208,930.73. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jay C. Horgen sold 9,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $171.98, for a total transaction of $1,547,820.00. Following the completion of the sale, the chief executive officer now directly owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,408 shares of company stock valued at $3,865,068. Insiders own 1.90% 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.