What is Zacks Research’s Forecast for AMG FY2024 Earnings?

Affiliated Managers Group, Inc. (NYSE:AMG) – Investment analysts at Zacks Research cut their FY2024 earnings per share (EPS) estimates for Affiliated Managers Group in a research note issued on Monday, November 25th. Zacks Research analyst R. Department now expects that the asset manager will post earnings of $21.01 per share for the year, down from their previous forecast of $21.63. The consensus estimate for Affiliated Managers Group’s current full-year earnings is $21.01 per share. Zacks Research also issued estimates for Affiliated Managers Group’s Q4 2024 earnings at $6.15 EPS, Q1 2026 earnings at $6.40 EPS, Q2 2026 earnings at $6.46 EPS, Q3 2026 earnings at $7.13 EPS and FY2026 earnings at $27.47 EPS.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 EPS for the quarter, missing the consensus estimate of $4.84 by ($0.02). Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The company had revenue of $525.20 million for the quarter, compared to analyst estimates of $521.87 million. During the same quarter in the prior year, the business earned $4.08 earnings per share. Affiliated Managers Group’s revenue was up 1.7% compared to the same quarter last year.

Several other equities research analysts also recently weighed in on AMG. TD Cowen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from $226.00 to $177.00 in a report on Tuesday, November 5th. Barrington Research decreased their price target on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $196.50.

Affiliated Managers Group Stock Performance

AMG opened at $188.46 on Thursday. Affiliated Managers Group has a one year low of $131.81 and a one year high of $199.52. The stock has a market capitalization of $5.70 billion, a P/E ratio of 12.29, a price-to-earnings-growth ratio of 0.69 and a beta of 1.18. The business’s 50-day simple moving average is $185.35 and its 200-day simple moving average is $171.68.

Institutional Investors Weigh In On Affiliated Managers Group

Institutional investors and hedge funds have recently modified their holdings of the company. Ariel Investments LLC lifted its stake in Affiliated Managers Group by 8.7% in the 2nd quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager’s stock valued at $225,411,000 after buying an additional 115,808 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Affiliated Managers Group by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 826,123 shares of the asset manager’s stock valued at $129,065,000 after purchasing an additional 30,059 shares in the last quarter. LSV Asset Management boosted its stake in shares of Affiliated Managers Group by 0.8% during the 2nd quarter. LSV Asset Management now owns 240,504 shares of the asset manager’s stock worth $37,574,000 after purchasing an additional 2,000 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Affiliated Managers Group by 9.6% during the second quarter. Raymond James & Associates now owns 234,647 shares of the asset manager’s stock worth $36,659,000 after buying an additional 20,514 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in shares of Affiliated Managers Group by 6.7% in the third quarter. New York State Common Retirement Fund now owns 185,147 shares of the asset manager’s stock valued at $32,919,000 after buying an additional 11,565 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be given a $0.01 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. Affiliated Managers Group’s payout ratio is currently 0.26%.

About Affiliated Managers Group

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.