Affiliated Managers Group, Inc. to Post Q1 2024 Earnings of $5.03 Per Share, Zacks Research Forecasts (NYSE:AMG)

Affiliated Managers Group, Inc. (NYSE:AMG) – Stock analysts at Zacks Research reduced their Q1 2024 earnings per share estimates for shares of Affiliated Managers Group in a report issued on Tuesday, April 9th. Zacks Research analyst R. Department now anticipates that the asset manager will post earnings per share of $5.03 for the quarter, down from their prior estimate of $5.04. The consensus estimate for Affiliated Managers Group’s current full-year earnings is $21.55 per share. Zacks Research also issued estimates for Affiliated Managers Group’s Q2 2024 earnings at $4.56 EPS, Q3 2024 earnings at $4.61 EPS, FY2024 earnings at $21.00 EPS, Q1 2025 earnings at $5.48 EPS and FY2026 earnings at $27.44 EPS.

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

A number of other research firms have also recently commented on AMG. TD Cowen initiated coverage on shares of Affiliated Managers Group in a research note on Thursday, January 4th. They issued an “outperform” rating and a $185.00 target price for the company. Barrington Research upped their target price on Affiliated Managers Group from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Tuesday.

Affiliated Managers Group Stock Down 0.4 %

Shares of AMG stock opened at $166.15 on Wednesday. The firm has a market cap of $5.45 billion, a price-to-earnings ratio of 9.58, a PEG ratio of 0.60 and a beta of 1.31. The company’s 50 day moving average is $160.15 and its 200 day moving average is $145.92. Affiliated Managers Group has a 52-week low of $120.22 and a 52-week high of $169.65.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in AMG. Quent Capital LLC lifted its stake in Affiliated Managers Group by 5.4% in the 4th quarter. Quent Capital LLC now owns 1,354 shares of the asset manager’s stock valued at $205,000 after buying an additional 69 shares in the last quarter. Forte Capital LLC ADV raised its holdings in shares of Affiliated Managers Group by 4.5% during the fourth quarter. Forte Capital LLC ADV now owns 1,641 shares of the asset manager’s stock valued at $248,000 after acquiring an additional 70 shares during the last quarter. Lindbrook Capital LLC lifted its position in shares of Affiliated Managers Group by 80.0% in the fourth quarter. Lindbrook Capital LLC now owns 162 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 72 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of Affiliated Managers Group by 72.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 174 shares of the asset manager’s stock worth $26,000 after acquiring an additional 73 shares during the last quarter. Finally, M&T Bank Corp boosted its stake in shares of Affiliated Managers Group by 3.5% in the fourth quarter. M&T Bank Corp now owns 2,184 shares of the asset manager’s stock worth $331,000 after acquiring an additional 74 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Dividend Announcement

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