Zacks Research Weighs in on Affiliated Managers Group, Inc.’s FY2023 Earnings (NYSE:AMG)

Affiliated Managers Group, Inc. (NYSE:AMGGet Rating) – Research analysts at Zacks Research reduced their FY2023 earnings estimates for shares of Affiliated Managers Group in a research note issued to investors on Monday, November 21st. Zacks Research analyst S. Shah now expects that the asset manager will post earnings per share of $18.62 for the year, down from their prior forecast of $19.32. The consensus estimate for Affiliated Managers Group’s current full-year earnings is $19.53 per share. Zacks Research also issued estimates for Affiliated Managers Group’s Q3 2024 earnings at $5.53 EPS.

A number of other equities research analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Affiliated Managers Group from $161.00 to $171.00 and gave the company a “buy” rating in a report on Tuesday, November 15th. The Goldman Sachs Group initiated coverage on shares of Affiliated Managers Group in a report on Monday. They set a “buy” rating and a $182.00 price objective for the company. Credit Suisse Group lifted their price objective on shares of Affiliated Managers Group from $140.00 to $163.50 and gave the company an “outperform” rating in a report on Tuesday, November 8th. StockNews.com upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Tuesday, November 8th. Finally, Barrington Research boosted their price target on shares of Affiliated Managers Group from $145.00 to $155.00 in a report on Monday, November 7th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Affiliated Managers Group has a consensus rating of “Moderate Buy” and an average price target of $175.64.

Affiliated Managers Group Price Performance

Shares of AMG opened at $156.74 on Thursday. Affiliated Managers Group has a 1-year low of $108.12 and a 1-year high of $178.10. The company has a 50-day moving average of $128.62 and a 200 day moving average of $127.04. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 1.00 and a beta of 1.28.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 17th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. Affiliated Managers Group’s dividend payout ratio is currently 0.31%.

Institutional Investors Weigh In On Affiliated Managers Group

Large investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. grew its position in shares of Affiliated Managers Group by 22.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 442 shares of the asset manager’s stock worth $52,000 after buying an additional 81 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Affiliated Managers Group by 57.7% in the 2nd quarter. Fifth Third Bancorp now owns 257 shares of the asset manager’s stock worth $30,000 after buying an additional 94 shares during the last quarter. ExodusPoint Capital Management LP grew its position in shares of Affiliated Managers Group by 0.5% in the 3rd quarter. ExodusPoint Capital Management LP now owns 22,857 shares of the asset manager’s stock worth $2,557,000 after buying an additional 107 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Affiliated Managers Group by 86.8% in the 2nd quarter. Parallel Advisors LLC now owns 241 shares of the asset manager’s stock worth $28,000 after buying an additional 112 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in shares of Affiliated Managers Group by 76.3% in the 1st quarter. Lazard Asset Management LLC now owns 275 shares of the asset manager’s stock worth $38,000 after buying an additional 119 shares during the last quarter. Institutional investors own 96.62% of the company’s stock.

About Affiliated Managers Group

(Get Rating)

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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