Q2 2022 EPS Estimates for Affiliated Managers Group, Inc. Reduced by Barrington Research (NYSE:AMG)

Affiliated Managers Group, Inc. (NYSE:AMG – Get Rating) – Stock analysts at Barrington Research lowered their Q2 2022 earnings per share (EPS) estimates for shares of Affiliated Managers Group in a research note issued to investors on Monday, May 2nd. Barrington Research analyst A. Paris. Jr now anticipates that the asset manager will earn $4.16 per share for the quarter, down from their prior estimate of $4.40. Barrington Research also issued estimates for Affiliated Managers Group’s Q4 2022 earnings at $5.61 EPS, FY2022 earnings at $19.00 EPS and FY2023 earnings at $21.00 EPS.

Affiliated Managers Group (NYSE:AMG – Get Rating) last announced its quarterly earnings results on Monday, May 2nd. The asset manager reported $4.65 earnings per share for the quarter, topping analysts’ consensus estimates of $4.34 by $0.31. The company had revenue of $607.30 million for the quarter, compared to analysts’ expectations of $662.80 million. Affiliated Managers Group had a net margin of 23.45% and a return on equity of 23.53%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $4.28 earnings per share.

Several other research analysts have also weighed in on the stock. StockNews.com assumed coverage on shares of Affiliated Managers Group in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Affiliated Managers Group from $152.00 to $162.00 in a report on Tuesday. Finally, Citigroup cut their price target on shares of Affiliated Managers Group from $241.00 to $222.00 in a report on Tuesday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Affiliated Managers Group currently has an average rating of “Buy” and an average target price of $195.71.

AMG opened at $130.10 on Wednesday. The company has a market cap of $5.07 billion, a PE ratio of 9.89, a P/E/G ratio of 0.68 and a beta of 1.33. Affiliated Managers Group has a 12 month low of $121.32 and a 12 month high of $191.62. The company has a fifty day moving average of $135.50.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rockefeller Capital Management L.P. lifted its holdings in shares of Affiliated Managers Group by 70.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 206 shares of the asset manager’s stock worth $33,000 after acquiring an additional 85 shares during the last quarter. Greenleaf Trust lifted its holdings in shares of Affiliated Managers Group by 6.8% in the 1st quarter. Greenleaf Trust now owns 1,438 shares of the asset manager’s stock worth $203,000 after acquiring an additional 92 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Affiliated Managers Group by 1.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 10,600 shares of the asset manager’s stock worth $1,484,000 after acquiring an additional 100 shares during the last quarter. Whittier Trust Co. lifted its holdings in shares of Affiliated Managers Group by 47.1% in the 4th quarter. Whittier Trust Co. now owns 325 shares of the asset manager’s stock worth $53,000 after acquiring an additional 104 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its holdings in shares of Affiliated Managers Group by 3.1% in the 3rd quarter. Panagora Asset Management Inc. now owns 4,385 shares of the asset manager’s stock worth $663,000 after acquiring an additional 132 shares during the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

In related news, Director Reuben Jeffery III bought 3,500 shares of the company’s stock in a transaction on Tuesday, February 15th. The stock was acquired at an average cost of $143.96 per share, for a total transaction of $503,860.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tracy P. Palandjian bought 3,700 shares of the company’s stock in a transaction on Tuesday, February 22nd. The shares were bought at an average price of $137.67 per share, with a total value of $509,379.00. The disclosure for this purchase can be found here. Company insiders own 0.70% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 26th. Investors of record on Thursday, May 12th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Wednesday, May 11th. Affiliated Managers Group’s payout ratio is currently 0.30%.

About Affiliated Managers Group (Get Rating)

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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