Q2 2024 EPS Estimates for Affiliated Managers Group, Inc. (NYSE:AMG) Raised by Analyst

Posted by Defense World Staff on Jul 15th, 2024

Affiliated Managers Group, Inc. (NYSE:AMG – Free Report) – Stock analysts at Barrington Research boosted their Q2 2024 EPS estimates for Affiliated Managers Group in a research report issued on Thursday, July 11th. Barrington Research analyst A. Paris now forecasts that the asset manager will post earnings per share of $4.60 for the quarter, up from their previous forecast of $4.58. Barrington Research currently has a “Outperform” rating and a $190.00 target price on the stock. The consensus estimate for Affiliated Managers Group’s current full-year earnings is $21.59 per share. Barrington Research also issued estimates for Affiliated Managers Group’s Q3 2024 earnings at $4.67 EPS and FY2024 earnings at $21.60 EPS.

Affiliated Managers Group (NYSE:AMG – Get Free Report) last issued its quarterly earnings results on Monday, May 6th. The asset manager reported $5.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.21 by $0.16. Affiliated Managers Group had a return on equity of 16.66% and a net margin of 33.74%. The company had revenue of $499.90 million for the quarter, compared to analysts’ expectations of $524.53 million. During the same period last year, the firm earned $4.18 EPS.

Separately, TD Cowen upped their price target on Affiliated Managers Group from $198.00 to $201.00 and gave the company a “buy” rating in a report on Monday, July 8th.

View Our Latest Analysis on AMG

Affiliated Managers Group Price Performance

NYSE AMG opened at $166.89 on Monday. The company has a market capitalization of $5.32 billion, a P/E ratio of 9.26, a PEG ratio of 0.57 and a beta of 1.22. Affiliated Managers Group has a 12 month low of $120.22 and a 12 month high of $169.65. The company’s 50 day simple moving average is $157.43 and its 200 day simple moving average is $157.31.

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were given a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.22%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMG. Lindbrook Capital LLC lifted its stake in Affiliated Managers Group by 80.0% in the fourth quarter. Lindbrook Capital LLC now owns 162 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 72 shares during the last quarter. Denali Advisors LLC increased its position in Affiliated Managers Group by 429.2% during the first quarter. Denali Advisors LLC now owns 254 shares of the asset manager’s stock worth $43,000 after buying an additional 206 shares during the last quarter. GAMMA Investing LLC bought a new position in Affiliated Managers Group during the fourth quarter valued at about $62,000. Quadrant Capital Group LLC raised its holdings in Affiliated Managers Group by 45.6% during the fourth quarter. Quadrant Capital Group LLC now owns 591 shares of the asset manager’s stock valued at $89,000 after buying an additional 185 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Affiliated Managers Group by 17.1% in the fourth quarter. Blue Trust Inc. now owns 617 shares of the asset manager’s stock worth $93,000 after buying an additional 90 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

About Affiliated Managers Group

(Get Free Report)

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.

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Earnings History and Estimates for Affiliated Managers Group (NYSE:AMG)

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