Affiliated Managers Group (NYSE:AMG) Issues Q3 Earnings Guidance

Affiliated Managers Group (NYSE:AMG) updated its third quarter earnings guidance on Monday. The company provided EPS guidance of $4.68-4.91 for the period, compared to the consensus EPS estimate of $4.69.

Analyst Ratings Changes

Several brokerages have commented on AMG. Barrington Research reissued an outperform rating and issued a $190.00 price target on shares of Affiliated Managers Group in a research report on Thursday, July 11th. TD Cowen raised their price objective on shares of Affiliated Managers Group from $198.00 to $201.00 and gave the company a buy rating in a report on Monday, July 8th.

Affiliated Managers Group Trading Up 1.9 %

Shares of AMG opened at $177.02 on Monday. Affiliated Managers Group has a twelve month low of $120.22 and a twelve month high of $177.49. The firm’s fifty day simple moving average is $160.11 and its 200-day simple moving average is $158.82. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 0.62 and a beta of 1.22.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, May 6th. The asset manager reported $5.37 EPS for the quarter, topping the consensus estimate of $5.21 by $0.16. Affiliated Managers Group had a net margin of 33.74% and a return on equity of 16.66%. The firm had revenue of $499.90 million for the quarter, compared to analyst estimates of $524.53 million. During the same period last year, the business earned $4.18 EPS. On average, analysts predict that Affiliated Managers Group will post 21.59 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.04 annualized dividend and a yield of 0.02%. Affiliated Managers Group’s dividend payout ratio is currently 0.22%.

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.