Barrington Research Comments on Affiliated Managers Group, Inc.’s Q1 2024 Earnings (NYSE:AMG)

Affiliated Managers Group, Inc. (NYSE:AMGFree Report) – Investment analysts at Barrington Research boosted their Q1 2024 earnings per share (EPS) estimates for Affiliated Managers Group in a note issued to investors on Tuesday, April 9th. Barrington Research analyst A. Paris now expects that the asset manager will post earnings of $5.25 per share for the quarter, up from their previous estimate of $5.13. Barrington Research has a “Outperform” rating and a $190.00 price objective on the stock. The consensus estimate for Affiliated Managers Group’s current full-year earnings is $21.55 per share. Barrington Research also issued estimates for Affiliated Managers Group’s Q2 2024 earnings at $4.85 EPS, Q3 2024 earnings at $4.90 EPS, Q4 2024 earnings at $7.50 EPS, FY2024 earnings at $22.50 EPS and FY2025 earnings at $25.00 EPS.

Separately, TD Cowen assumed coverage on Affiliated Managers Group in a research report on Thursday, January 4th. They set an “outperform” rating and a $185.00 price objective for the company.

Read Our Latest Stock Analysis on Affiliated Managers Group

Affiliated Managers Group Price Performance

Affiliated Managers Group stock traded down $2.07 during mid-day trading on Wednesday, reaching $167.45. 5,385 shares of the stock traded hands, compared to its average volume of 222,699. The stock has a market capitalization of $5.49 billion, a PE ratio of 9.78, a price-to-earnings-growth ratio of 0.60 and a beta of 1.31. Affiliated Managers Group has a 12-month low of $120.22 and a 12-month high of $169.65. The business’s 50-day moving average is $159.49 and its 200-day moving average is $145.63.

Affiliated Managers Group (NYSE:AMGGet Free Report) last released its earnings results on Monday, February 5th. The asset manager reported $6.86 EPS for the quarter, topping the consensus estimate of $6.03 by $0.83. Affiliated Managers Group had a return on equity of 16.29% and a net margin of 32.71%. The business had revenue of $502.70 million for the quarter, compared to the consensus estimate of $524.98 million. During the same period in the previous year, the company posted $7.28 earnings per share. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year.

Institutional Trading of Affiliated Managers Group

A number of hedge funds and other institutional investors have recently bought and sold shares of AMG. Lindbrook Capital LLC increased its position in Affiliated Managers Group by 80.0% in the fourth quarter. Lindbrook Capital LLC now owns 162 shares of the asset manager’s stock worth $25,000 after buying an additional 72 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Affiliated Managers Group by 72.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 174 shares of the asset manager’s stock valued at $26,000 after buying an additional 73 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Affiliated Managers Group by 76.3% during the first quarter. Lazard Asset Management LLC now owns 275 shares of the asset manager’s stock valued at $38,000 after buying an additional 119 shares during the last quarter. First Capital Advisors Group LLC. bought a new position in Affiliated Managers Group during the second quarter valued at approximately $44,000. Finally, Quarry LP boosted its stake in Affiliated Managers Group by 1,193.3% during the first quarter. Quarry LP now owns 388 shares of the asset manager’s stock valued at $55,000 after buying an additional 358 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Wednesday, February 14th. Affiliated Managers Group’s payout ratio is 0.23%.

Affiliated Managers Group Company Profile

(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.

Further Reading

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

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