Research Analysts Issue Forecasts for Affiliated Managers Group, Inc.’s Q2 2024 Earnings (NYSE:AMG)

Affiliated Managers Group, Inc. (NYSE:AMG) – Analysts at Barrington Research cut their Q2 2024 earnings estimates for shares of Affiliated Managers Group in a note issued to investors on Monday, May 6th. Barrington Research analyst A. Paris now forecasts that the asset manager will post earnings of $4.80 per share for the quarter, down from their previous forecast of $4.85. Barrington Research has a “Outperform” rating and a $190.00 price target on the stock. The consensus estimate for Affiliated Managers Group’s current full-year earnings is $22.03 per share. Barrington Research also issued estimates for Affiliated Managers Group’s Q3 2024 earnings at $4.85 EPS, Q4 2024 earnings at $7.22 EPS, FY2024 earnings at $22.25 EPS and FY2025 earnings at $24.25 EPS.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, May 6th. The asset manager reported $5.37 earnings per share for the quarter, topping the consensus estimate of $5.21 by $0.16. Affiliated Managers Group had a net margin of 32.71% and a return on equity of 16.29%. The firm had revenue of $499.90 million during the quarter, compared to analysts’ expectations of $524.53 million. During the same quarter in the previous year, the company posted $4.18 EPS.

Separately, TD Cowen lowered their target price on shares of Affiliated Managers Group from $218.00 to $198.00 and set a “buy” rating for the company in a report on Tuesday.

Affiliated Managers Group Stock Performance

AMG opened at $157.33 on Thursday. The company has a fifty day moving average price of $161.53 and a two-hundred day moving average price of $150.10. Affiliated Managers Group has a 52 week low of $120.22 and a 52 week high of $169.65. The firm has a market capitalization of $5.11 billion, a PE ratio of 9.07, a P/E/G ratio of 0.56 and a beta of 1.31.

Institutional Investors Weigh In On Affiliated Managers Group

Institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley grew its stake in Affiliated Managers Group by 1.7% in the 3rd quarter. Morgan Stanley now owns 2,474,577 shares of the asset manager’s stock valued at $322,537,000 after buying an additional 41,120 shares during the last quarter. Charles Carroll Financial Partners LLC raised its position in Affiliated Managers Group by 62.3% during the fourth quarter. Charles Carroll Financial Partners LLC now owns 13,150 shares of the asset manager’s stock valued at $1,991,000 after purchasing an additional 5,050 shares in the last quarter. LGT Capital Partners LTD. increased its stake in shares of Affiliated Managers Group by 28.3% in the 4th quarter. LGT Capital Partners LTD. now owns 393,330 shares of the asset manager’s stock valued at $59,558,000 after purchasing an additional 86,670 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Affiliated Managers Group by 72.3% during the 4th quarter. SG Americas Securities LLC now owns 15,256 shares of the asset manager’s stock worth $2,310,000 after buying an additional 6,402 shares in the last quarter. Finally, New York State Common Retirement Fund raised its holdings in shares of Affiliated Managers Group by 342.1% during the 4th quarter. New York State Common Retirement Fund now owns 161,375 shares of the asset manager’s stock worth $24,435,000 after buying an additional 124,871 shares in the last quarter. 95.30% of the stock is owned by institutional investors.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be issued a $0.01 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Affiliated Managers Group’s payout ratio is 0.23%.

About Affiliated Managers Group

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.