Affiliated Managers Group (NYSE:AMG) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Affiliated Managers Group (NYSE:AMG) posted its quarterly earnings data on Monday. The asset manager reported $4.82 earnings per share for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02), Briefing.com reports. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. The company had revenue of $525.20 million for the quarter, compared to the consensus estimate of $521.87 million. During the same period last year, the business earned $4.08 EPS. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. Affiliated Managers Group updated its Q4 guidance to $5.94-6.17 EPS.

Affiliated Managers Group Stock Down 8.6 %

AMG opened at $177.06 on Tuesday. Affiliated Managers Group has a twelve month low of $129.57 and a twelve month high of $199.52. The firm has a 50 day moving average price of $180.34 and a 200-day moving average price of $168.67. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 0.62 and a beta of 1.18.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be paid 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 dividend yield of 0.02%. Affiliated Managers Group’s dividend payout ratio is presently 0.23%.

Insider Buying and Selling

In other news, CEO Jay C. Horgen sold 9,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $171.98, for a total transaction of $1,547,820.00. Following the transaction, the chief executive officer now directly owns 377,276 shares of the company’s stock, valued at $64,883,926.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Jay C. Horgen sold 9,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $171.98, for a total transaction of $1,547,820.00. Following the completion of the sale, the chief executive officer now owns 377,276 shares in the company, valued at approximately $64,883,926.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rizwan M. Jamal sold 8,622 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $172.89, for a total value of $1,490,657.58. Following the completion of the transaction, the insider now directly owns 128,457 shares in the company, valued at approximately $22,208,930.73. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,408 shares of company stock worth $3,865,068. 1.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AMG has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on Affiliated Managers Group from $202.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, August 15th. TD Cowen cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $226.00 to $177.00 in a report on Tuesday. Barrington Research reiterated an “outperform” rating and set a $210.00 price target on shares of Affiliated Managers Group in a report on Wednesday, October 30th. StockNews.com downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Finally, Bank of America upped their price objective on Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Affiliated Managers Group currently has an average rating of “Hold” and a consensus price target of $198.25.

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.