Jefferies Financial Group Weighs in on Affiliated Managers Group, Inc.’s FY2018 Earnings (AMG)

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Affiliated Managers Group, Inc. (NYSE:AMG) – Analysts at Jefferies Financial Group reduced their FY2018 earnings estimates for shares of Affiliated Managers Group in a note issued to investors on Wednesday, January 9th. Jefferies Financial Group analyst D. Fannon now expects that the asset manager will earn $14.48 per share for the year, down from their previous estimate of $14.83. Jefferies Financial Group also issued estimates for Affiliated Managers Group’s Q4 2018 earnings at $3.48 EPS, Q1 2019 earnings at $3.19 EPS, Q2 2019 earnings at $3.32 EPS and Q3 2019 earnings at $3.45 EPS.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, October 29th. The asset manager reported $3.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.42 by $0.03. Affiliated Managers Group had a return on equity of 19.37% and a net margin of 29.38%. The firm had revenue of $601.30 million for the quarter, compared to analyst estimates of $604.82 million. During the same quarter last year, the company posted $3.41 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis.

A number of other equities analysts have also issued reports on the company. Deutsche Bank lowered their price target on Affiliated Managers Group from $166.00 to $164.00 and set a “buy” rating on the stock in a report on Tuesday, October 30th. Zacks Investment Research raised Affiliated Managers Group from a “sell” rating to a “hold” rating in a report on Friday, September 21st. Bank of America reissued a “buy” rating and set a $130.00 price target (down previously from $155.00) on shares of Affiliated Managers Group in a report on Thursday, December 6th. Barrington Research lowered their price target on Affiliated Managers Group from $200.00 to $150.00 and set an “outperform” rating on the stock in a report on Monday, October 29th. Finally, Citigroup lowered their price target on Affiliated Managers Group from $195.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, October 30th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $161.43.

NYSE AMG opened at $102.11 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.42 and a current ratio of 0.49. Affiliated Managers Group has a 52-week low of $88.46 and a 52-week high of $216.99. The stock has a market cap of $5.45 billion, a P/E ratio of 6.99, a P/E/G ratio of 0.66 and a beta of 1.45.

Institutional investors and hedge funds have recently made changes to their positions in the business. Cornerstone Wealth Management LLC lifted its position in shares of Affiliated Managers Group by 24.5% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 28,925 shares of the asset manager’s stock valued at $149,000 after acquiring an additional 5,698 shares during the period. Zions Bancorporation acquired a new stake in shares of Affiliated Managers Group during the 3rd quarter valued at approximately $170,000. Trust Co. of Toledo NA OH acquired a new stake in shares of Affiliated Managers Group during the 3rd quarter valued at approximately $202,000. Candriam Luxembourg S.C.A. acquired a new stake in shares of Affiliated Managers Group during the 3rd quarter valued at approximately $204,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Affiliated Managers Group during the 3rd quarter valued at approximately $223,000. 92.13% of the stock is currently owned by institutional investors.

In other Affiliated Managers Group news, EVP Hugh Cutler acquired 1,564 shares of the stock in a transaction on Wednesday, October 31st. The shares were bought at an average price of $115.48 per share, with a total value of $180,610.72. Following the acquisition, the executive vice president now owns 7,087 shares of the company’s stock, valued at $818,406.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dwight D. Churchill sold 2,034 shares of Affiliated Managers Group stock in a transaction that occurred on Wednesday, November 21st. The shares were sold at an average price of $110.53, for a total value of $224,818.02. Following the completion of the sale, the director now directly owns 6,522 shares in the company, valued at approximately $720,876.66. The disclosure for this sale can be found here. 0.91% of the stock is currently owned by insiders.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

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