Affiliated Managers Group, Inc. (NYSE:AMG – Get Rating) – Investment analysts at Barrington Research increased their Q3 2022 EPS estimates for shares of Affiliated Managers Group in a research report issued on Monday, May 2nd. Barrington Research analyst A. Paris. Jr now anticipates that the asset manager will earn $4.58 per share for the quarter, up from their prior estimate of $4.55.
A number of other research analysts have also recently weighed in on AMG. Citigroup reduced their price target on shares of Affiliated Managers Group from $241.00 to $222.00 in a research report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Affiliated Managers Group from $152.00 to $162.00 in a research report on Tuesday. Finally, StockNews.com assumed coverage on shares of Affiliated Managers Group in a research report on Thursday, March 31st. They set a “buy” rating on the stock. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Affiliated Managers Group currently has a consensus rating of “Buy” and a consensus target price of $203.67.
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, beating analysts’ consensus estimates of $4.34 by $0.31. The firm 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 22.84% and a return on equity of 22.99%. Affiliated Managers Group’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $4.28 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 26th. Stockholders of record on Thursday, May 12th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, May 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Affiliated Managers Group’s payout ratio is currently 0.30%.
In related news, Director Tracy P. Palandjian purchased 3,700 shares of the business’s stock in a transaction that occurred on Tuesday, February 22nd. The shares were purchased at an average cost of $137.67 per share, with a total value of $509,379.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Reuben Jeffery III purchased 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 15th. The stock was bought at an average cost of $143.96 per share, for a total transaction of $503,860.00. The disclosure for this purchase can be found here. Insiders own 0.70% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. raised its holdings in Affiliated Managers Group by 70.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 206 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 85 shares in the last quarter. Greenleaf Trust increased its stake in Affiliated Managers Group by 6.8% during the first quarter. Greenleaf Trust now owns 1,438 shares of the asset manager’s stock valued at $203,000 after purchasing an additional 92 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Affiliated Managers Group by 1.0% during the first quarter. Louisiana State Employees Retirement System now owns 10,600 shares of the asset manager’s stock valued at $1,484,000 after purchasing an additional 100 shares during the last quarter. Whittier Trust Co. increased its stake in Affiliated Managers Group by 47.1% during the fourth quarter. Whittier Trust Co. now owns 325 shares of the asset manager’s stock valued at $53,000 after purchasing an additional 104 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its stake in Affiliated Managers Group by 3.1% during the third quarter. Panagora Asset Management Inc. now owns 4,385 shares of the asset manager’s stock valued at $663,000 after purchasing an additional 132 shares during the last quarter. 96.35% of the stock is currently owned by hedge funds and other institutional investors.
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.
- Get a free copy of the StockNews.com research report on Affiliated Managers Group (AMG)
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