Affiliated Managers Group (NYSE:AMG) Announces Quarterly Earnings Results, Beats Expectations By $0.71 EPS

Affiliated Managers Group (NYSE:AMG) announced its quarterly earnings data on Monday. The asset manager reported $9.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.79 by $0.71, FiscalAI reports. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%. The firm had revenue of $595.20 million for the quarter, compared to analysts’ expectations of $655.08 million.

Affiliated Managers Group Price Performance

AMG opened at $361.79 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The company’s 50-day moving average price is $371.73 and its 200 day moving average price is $333.89. Affiliated Managers Group has a fifty-two week low of $246.11 and a fifty-two week high of $400.13. The firm has a market cap of $9.36 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 0.46 and a beta of 1.05.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AMG. Wall Street Zen lowered Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 30th. Zacks Research lowered Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 29th. TD Cowen upped their price target on Affiliated Managers Group from $512.00 to $523.00 and gave the company a “buy” rating in a research report on Monday, October 12th. Weiss Ratings upgraded Affiliated Managers Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Finally, Barrington Research set a $425.00 price objective on shares of Affiliated Managers Group in a report on Friday, July 31st. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $438.25.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management company that partners with independent investment firms. Founded in 1993, AMG provides its partner firms with strategic capital, distribution support and business resources while allowing them to retain substantial independence over their investment processes and operations.

Through its partner firms, AMG offers a range of investment strategies and services, including alternative investments, equities, fixed income, private markets and wealth management.