Affiliated Managers Group, Inc. (NYSE:AMG) – Stock analysts at William Blair issued their Q1 2021 earnings per share (EPS) estimates for Affiliated Managers Group in a research report issued on Tuesday, July 28th. William Blair analyst C. Shutler anticipates that the asset manager will post earnings per share of $3.18 for the quarter. William Blair also issued estimates for Affiliated Managers Group’s Q2 2021 earnings at $3.10 EPS, Q3 2021 earnings at $3.19 EPS and Q4 2021 earnings at $3.59 EPS.
AMG has been the topic of several other reports. Citigroup dropped their price target on Affiliated Managers Group from $70.00 to $66.50 and set a “neutral” rating on the stock in a research report on Tuesday, April 28th. Credit Suisse Group dropped their price target on Affiliated Managers Group from $72.00 to $71.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 28th. ValuEngine raised Affiliated Managers Group from a “strong sell” rating to a “sell” rating in a research report on Monday, June 1st. Bank of America upped their price target on Affiliated Managers Group from $70.00 to $71.00 and gave the company an “underperform” rating in a research report on Friday, July 10th. Finally, Keefe, Bruyette & Woods upgraded Affiliated Managers Group from a “market perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a research note on Monday, April 6th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Affiliated Managers Group presently has an average rating of “Hold” and an average target price of $74.50.
Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, July 27th. The asset manager reported $2.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.71 by $0.03. The business had revenue of $471.10 million for the quarter, compared to analyst estimates of $451.28 million. Affiliated Managers Group had a return on equity of 18.94% and a net margin of 5.95%. The business’s revenue was down 20.4% compared to the same quarter last year. During the same period in the prior year, the company posted $3.33 EPS.
Several large investors have recently added to or reduced their stakes in AMG. State of Tennessee Treasury Department bought a new position in Affiliated Managers Group during the first quarter valued at about $1,957,000. Nuveen Asset Management LLC boosted its stake in Affiliated Managers Group by 5.9% during the first quarter. Nuveen Asset Management LLC now owns 106,463 shares of the asset manager’s stock valued at $6,296,000 after buying an additional 5,948 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in Affiliated Managers Group by 71.2% during the first quarter. Treasurer of the State of North Carolina now owns 20,229 shares of the asset manager’s stock valued at $1,196,000 after buying an additional 8,410 shares in the last quarter. Two Sigma Advisers LP boosted its stake in Affiliated Managers Group by 91.9% during the first quarter. Two Sigma Advisers LP now owns 80,800 shares of the asset manager’s stock valued at $4,779,000 after buying an additional 38,700 shares in the last quarter. Finally, Asset Management One Co. Ltd. bought a new position in Affiliated Managers Group during the first quarter valued at about $30,000. 97.93% of the stock is owned by institutional investors.
In other Affiliated Managers Group news, CEO Jay C. Horgen purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was bought at an average price of $59.26 per share, with a total value of $592,600.00. Following the completion of the purchase, the chief executive officer now owns 137,667 shares in the company, valued at approximately $8,158,146.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Dwight D. Churchill purchased 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was acquired at an average cost of $71.83 per share, with a total value of $71,830.00. Following the purchase, the director now owns 10,069 shares of the company’s stock, valued at approximately $723,256.27. The disclosure for this purchase can be found here. 1.43% of the stock is owned by corporate insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.06%. Affiliated Managers Group’s payout ratio is currently 0.28%.
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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