Affiliated Managers Group (NYSE:AMG) Announces Quarterly Earnings Results

Affiliated Managers Group (NYSE:AMG) posted its quarterly earnings data on Monday. The asset manager reported $5.37 earnings per share for the quarter, beating analysts’ consensus estimates of $5.21 by $0.16, Yahoo Finance reports. Affiliated Managers Group had a net margin of 32.71% and a return on equity of 16.29%. The business had revenue of $499.90 million for the quarter, compared to analysts’ expectations of $524.53 million. During the same quarter in the previous year, the business posted $4.18 earnings per share. Affiliated Managers Group updated its Q2 guidance to $4.50-$4.60 EPS.

Affiliated Managers Group Price Performance

Affiliated Managers Group stock opened at $156.88 on Thursday. The stock has a market cap of $5.09 billion, a price-to-earnings ratio of 9.04, a price-to-earnings-growth ratio of 0.56 and a beta of 1.31. The firm has a 50-day moving average of $161.51 and a two-hundred day moving average of $150.05. Affiliated Managers Group has a 1 year low of $120.22 and a 1 year high of $169.65.

Affiliated Managers Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Wednesday, May 15th. Affiliated Managers Group’s dividend payout ratio is presently 0.23%.

Wall Street Analyst Weigh In

AMG has been the subject of a number of recent analyst reports. Barrington Research reaffirmed an “outperform” rating and set a $190.00 price target on shares of Affiliated Managers Group in a research note on Tuesday. TD Cowen dropped their target price on Affiliated Managers Group from $218.00 to $198.00 and set a “buy” rating for the company in a research report on Tuesday.

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.