Affiliated Managers Group (NYSE:AMG) Releases Quarterly Earnings Results, Beats Expectations By $0.50 EPS

Affiliated Managers Group (NYSE:AMG) issued its quarterly earnings data on Thursday. The asset manager reported $6.53 earnings per share for the quarter, topping analysts’ consensus estimates of $6.03 by $0.50, Zacks reports. Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%.

Affiliated Managers Group Stock Performance

NYSE:AMG opened at $182.63 on Friday. Affiliated Managers Group has a 52 week low of $147.13 and a 52 week high of $199.52. The firm’s fifty day moving average is $185.22 and its 200-day moving average is $181.11. The firm has a market cap of $5.52 billion, a P/E ratio of 11.91, a P/E/G ratio of 0.69 and a beta of 1.15.

Analyst Upgrades and Downgrades

AMG has been the topic of several research reports. Deutsche Bank Aktiengesellschaft boosted their price target on Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Barrington Research boosted their target price on shares of Affiliated Managers Group from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday. TD Cowen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their price target for the company from $226.00 to $177.00 in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group cut shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $193.00 to $191.00 in a research note on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $198.40.

About Affiliated Managers Group

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.