Analysts expect that Affiliated Managers Group, Inc. (NYSE:AMG) will announce $608.01 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Affiliated Managers Group’s earnings. The highest sales estimate is $614.13 million and the lowest is $599.90 million. Affiliated Managers Group reported sales of $544.30 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.7%. The company is expected to report its next earnings results on Monday, May 7th.
According to Zacks, analysts expect that Affiliated Managers Group will report full-year sales of $608.01 million for the current fiscal year, with estimates ranging from $2.50 billion to $2.55 billion. For the next year, analysts anticipate that the company will post sales of $2.70 billion per share, with estimates ranging from $2.58 billion to $2.77 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Affiliated Managers Group.
Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, January 29th. The asset manager reported $4.68 earnings per share for the quarter, topping the consensus estimate of $4.55 by $0.13. Affiliated Managers Group had a net margin of 29.92% and a return on equity of 18.61%. The firm had revenue of $604.10 million during the quarter, compared to analysts’ expectations of $608.51 million. During the same quarter in the prior year, the company earned $3.80 EPS. The company’s revenue was up 9.8% compared to the same quarter last year.
Shares of Affiliated Managers Group (AMG) traded down $4.65 on Thursday, hitting $197.11. 441,894 shares of the stock traded hands, compared to its average volume of 365,438. Affiliated Managers Group has a 52-week low of $148.81 and a 52-week high of $216.99. The stock has a market cap of $10,955.77, a PE ratio of 16.33, a PEG ratio of 0.70 and a beta of 1.57. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.59 and a quick ratio of 0.61.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, February 8th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Wednesday, February 7th. This is a positive change from Affiliated Managers Group’s previous quarterly dividend of $0.20. Affiliated Managers Group’s payout ratio is 6.63%.
Affiliated Managers Group declared that its board has approved a stock repurchase program on Monday, January 29th that permits the company to buyback 3,400,000 shares. This buyback authorization permits the asset manager to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other Affiliated Managers Group news, Director Patrick T. Ryan sold 7,705 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $185.27, for a total transaction of $1,427,505.35. Following the transaction, the director now owns 6,797 shares in the company, valued at approximately $1,259,280.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter W. Macewen sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $197.67, for a total transaction of $1,976,700.00. Following the transaction, the insider now owns 37,682 shares in the company, valued at approximately $7,448,600.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 87,505 shares of company stock valued at $16,350,709. 1.40% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the business. Douglas Lane & Associates LLC acquired a new position in Affiliated Managers Group during the 3rd quarter valued at approximately $200,000. BNP Paribas Arbitrage SA increased its stake in shares of Affiliated Managers Group by 31.6% in the third quarter. BNP Paribas Arbitrage SA now owns 35,948 shares of the asset manager’s stock worth $6,824,000 after acquiring an additional 8,641 shares during the period. Rhumbline Advisers increased its stake in shares of Affiliated Managers Group by 2.1% in the third quarter. Rhumbline Advisers now owns 103,393 shares of the asset manager’s stock worth $19,627,000 after acquiring an additional 2,148 shares during the period. Nomura Holdings Inc. acquired a new stake in shares of Affiliated Managers Group in the second quarter worth $712,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Affiliated Managers Group by 16.3% in the third quarter. JPMorgan Chase & Co. now owns 593,301 shares of the asset manager’s stock worth $112,364,000 after acquiring an additional 83,018 shares during the period. Institutional investors and hedge funds own 95.73% of the company’s stock.
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Affiliated Managers Group Company Profile
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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