Barrington Research Has Weak Outlook for AMG FY2024 Earnings

Affiliated Managers Group, Inc. (NYSE:AMG) – Investment analysts at Barrington Research decreased their FY2024 earnings estimates for shares of Affiliated Managers Group in a report issued on Tuesday, November 5th. Barrington Research analyst A. Paris now forecasts that the asset manager will earn $20.90 per share for the year, down from their prior estimate of $21.55. Barrington Research has a “Outperform” rating and a $200.00 price objective on the stock. The consensus estimate for Affiliated Managers Group’s current full-year earnings is $22.02 per share.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). The firm had revenue of $525.20 million during the quarter, compared to analyst estimates of $521.87 million. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. The business’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.08 earnings per share.

A number of other analysts also recently weighed in on the stock. TD Cowen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their price target for the company from $226.00 to $177.00 in a research report on Tuesday. 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 report on Tuesday. StockNews.com downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, Bank of America raised their target price on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $195.50.

Affiliated Managers Group Price Performance

Shares of NYSE:AMG opened at $186.20 on Wednesday. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 10.93, a P/E/G ratio of 0.62 and a beta of 1.18. The firm’s 50 day simple moving average is $180.73 and its 200 day simple moving average is $168.93. Affiliated Managers Group has a fifty-two week low of $129.57 and a fifty-two week high of $199.52.

Hedge Funds Weigh In On Affiliated Managers Group

Several hedge funds and other institutional investors have recently made changes to their positions in AMG. Altshuler Shaham Ltd bought a new position in shares of Affiliated Managers Group in the second quarter valued at $28,000. Ashton Thomas Securities LLC bought a new position in shares of Affiliated Managers Group in the third quarter valued at $30,000. UMB Bank n.a. grew its stake in shares of Affiliated Managers Group by 481.3% in the third quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock valued at $33,000 after buying an additional 154 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Affiliated Managers Group in the second quarter valued at $47,000. Finally, Goodman Advisory Group LLC bought a new position in shares of Affiliated Managers Group in the second quarter valued at $50,000. 95.30% of the stock is owned by institutional investors.

Insider Transactions at Affiliated Managers Group

In other news, COO Thomas M. Wojcik sold 4,786 shares of the firm’s stock in a transaction that occurred 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 directly owns 84,392 shares of the company’s stock, valued at $14,575,342.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Rizwan M. Jamal sold 8,622 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $172.89, for a total transaction of $1,490,657.58. Following the completion of the transaction, the insider now directly owns 128,457 shares of the company’s stock, valued at $22,208,930.73. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Thomas M. Wojcik sold 4,786 shares of the firm’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 directly owns 84,392 shares of the company’s stock, valued at $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 sold 22,408 shares of company stock valued at $3,865,068 in the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Affiliated Managers Group Announces Dividend

The business 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 annualized dividend and a yield of 0.02%. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.23%.

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.