Affiliated Managers Group, Inc. (NYSE:AMG) – Analysts at William Blair lifted their Q3 2017 EPS estimates for shares of Affiliated Managers Group in a report released on Wednesday. William Blair analyst C. Shutler now expects that the asset manager will post earnings per share of $3.28 for the quarter, up from their prior estimate of $3.26. William Blair also issued estimates for Affiliated Managers Group’s FY2017 earnings at $14.35 EPS and FY2018 earnings at $15.80 EPS.
Other research analysts have also recently issued reports about the company. Citigroup Inc. cut Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $180.00 price objective for the company. in a report on Monday, June 5th. ValuEngine cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Jefferies Group LLC lifted their price target on Affiliated Managers Group from $195.00 to $197.00 and gave the company a “buy” rating in a report on Friday, April 7th. Zacks Investment Research raised Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a report on Tuesday, April 18th. Finally, BidaskClub raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Affiliated Managers Group currently has an average rating of “Buy” and an average price target of $189.38.
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Affiliated Managers Group (NYSE:AMG) opened at 179.05 on Monday. The stock’s 50 day moving average is $167.64 and its 200 day moving average is $160.83. The company has a market cap of $10.13 billion, a price-to-earnings ratio of 20.37 and a beta of 1.63. Affiliated Managers Group has a 52-week low of $130.48 and a 52-week high of $180.17.
Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, May 1st. The asset manager reported $3.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.18 by $0.03. The company had revenue of $544.30 million for the quarter, compared to analysts’ expectations of $551.56 million. Affiliated Managers Group had a net margin of 22.31% and a return on equity of 17.53%. The firm’s revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.94 earnings per share.
In other news, Director Dwight D. Churchill sold 3,277 shares of Affiliated Managers Group stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $163.30, for a total transaction of $535,134.10. Following the transaction, the director now owns 7,301 shares in the company, valued at approximately $1,192,253.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patrick T. Ryan sold 8,902 shares of Affiliated Managers Group stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $152.89, for a total value of $1,361,026.78. Following the transaction, the director now owns 10,342 shares in the company, valued at approximately $1,581,188.38. The disclosure for this sale can be found here. Insiders have sold a total of 69,107 shares of company stock worth $11,065,554 in the last quarter. 1.40% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Affiliated Managers Group by 3,178.4% in the first quarter. BlackRock Inc. now owns 3,425,390 shares of the asset manager’s stock valued at $561,556,000 after buying an additional 3,320,906 shares during the last quarter. RidgeWorth Capital Management LLC purchased a new stake in Affiliated Managers Group during the first quarter valued at approximately $40,387,000. Vanguard Group Inc. boosted its stake in Affiliated Managers Group by 4.8% in the first quarter. Vanguard Group Inc. now owns 5,303,083 shares of the asset manager’s stock valued at $869,387,000 after buying an additional 243,426 shares during the last quarter. State Street Corp boosted its stake in Affiliated Managers Group by 8.5% in the first quarter. State Street Corp now owns 2,583,067 shares of the asset manager’s stock valued at $423,466,000 after buying an additional 202,802 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its stake in Affiliated Managers Group by 39.9% in the first quarter. Clearbridge Investments LLC now owns 625,006 shares of the asset manager’s stock valued at $102,463,000 after buying an additional 178,128 shares during the last quarter. Hedge funds and other institutional investors own 94.66% of the company’s stock.
About Affiliated Managers Group
Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.
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