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

Affiliated Managers Group (NYSE:AMG) issued its earnings results on Monday. The asset manager reported $4.82 earnings per share for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02), Briefing.com reports. The business 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 revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.08 earnings per share. Affiliated Managers Group updated its Q4 guidance to $5.94-6.17 EPS.

Affiliated Managers Group Stock Performance

AMG stock opened at $177.06 on Tuesday. The business has a 50-day simple moving average of $180.34 and a two-hundred day simple moving average of $168.67. The company has a market capitalization of $5.28 billion, a P/E ratio of 10.40, a price-to-earnings-growth ratio of 0.62 and a beta of 1.18. Affiliated Managers Group has a 52-week low of $129.57 and a 52-week high of $199.52.

Analysts Set New Price Targets

Several analysts have recently weighed in on AMG shares. Barrington Research reiterated an “outperform” rating and issued a $210.00 price objective on shares of Affiliated Managers Group in a research note on Wednesday, October 30th. TD Cowen cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their price objective for the stock from $226.00 to $177.00 in a research report on Tuesday. StockNews.com lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Bank of America increased their price target on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Affiliated Managers Group from $202.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Affiliated Managers Group presently has an average rating of “Hold” and a consensus price target of $198.25.

Insider Transactions at Affiliated Managers Group

In related news, COO Thomas M. Wojcik sold 4,786 shares of Affiliated Managers Group stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $172.71, for a total transaction of $826,590.06. Following the transaction, the chief operating officer now owns 84,392 shares of the company’s stock, valued at $14,575,342.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, COO Thomas M. Wojcik sold 4,786 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $172.71, for a total value of $826,590.06. Following the completion of the sale, the chief operating officer now owns 84,392 shares in the company, valued at $14,575,342.32. 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 business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 377,276 shares in the company, 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. Insiders sold a total of 22,408 shares of company stock valued at $3,865,068 over the last ninety days. 1.90% of the stock is currently owned by insiders.

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.