Affiliated Managers Group (NYSE:AMG) Issues Earnings Results

Affiliated Managers Group (NYSE:AMG) issued its quarterly earnings data on Monday. The asset manager reported $6.10 EPS for the quarter, topping analysts’ consensus estimates of $5.88 by $0.22, Zacks reports. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. During the same quarter last year, the company posted $4.82 EPS. The company’s revenue was up 2.2% compared to the same quarter last year.

Affiliated Managers Group Trading Up 0.7%

Shares of NYSE AMG opened at $238.32 on Monday. The firm has a market capitalization of $6.77 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 0.61 and a beta of 1.21. Affiliated Managers Group has a 1 year low of $139.22 and a 1 year high of $250.15. The firm’s 50-day moving average is $236.07 and its 200-day moving average is $207.06.

Insider Activity

In other news, COO Thomas M. Wojcik sold 16,000 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $231.03, for a total value of $3,696,480.00. Following the transaction, the chief operating officer owned 158,710 shares of the company’s stock, valued at approximately $36,666,771.30. This trade represents a 9.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.20% of the company’s stock.

Institutional Trading of Affiliated Managers Group

Hedge funds have recently modified their holdings of the company. Jump Financial LLC acquired a new stake in shares of Affiliated Managers Group in the 2nd quarter valued at approximately $1,913,000. Marshall Wace LLP acquired a new stake in shares of Affiliated Managers Group in the 2nd quarter valued at approximately $1,722,000. Jane Street Group LLC acquired a new stake in shares of Affiliated Managers Group in the 1st quarter valued at approximately $1,947,000. Goldman Sachs Group Inc. raised its position in shares of Affiliated Managers Group by 1.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 113,353 shares of the asset manager’s stock valued at $19,047,000 after acquiring an additional 1,428 shares during the period. Finally, Advisory Services Network LLC raised its position in shares of Affiliated Managers Group by 93.9% in the 2nd quarter. Advisory Services Network LLC now owns 3,547 shares of the asset manager’s stock valued at $744,000 after acquiring an additional 1,718 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, October 8th. TD Cowen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $214.00 to $255.00 in a report on Monday, August 4th. Zacks Research lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Barrington Research increased their price objective on shares of Affiliated Managers Group from $240.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $272.60.

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.