Zacks: Brokerages Anticipate Affiliated Managers Group, Inc. (AMG) Will Post Quarterly Sales of $608.01 Million

Equities research analysts expect Affiliated Managers Group, Inc. (NYSE:AMG) to announce $608.01 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Affiliated Managers Group’s earnings, with estimates ranging from $599.90 million to $614.13 million. Affiliated Managers Group reported sales of $544.30 million during the same quarter last year, which would suggest a positive year over year growth rate of 11.7%. The company is expected to issue its next earnings report on Monday, May 7th.

According to Zacks, analysts expect that Affiliated Managers Group will report full-year sales of $608.01 million for the current financial year, with estimates ranging from $2.50 billion to $2.55 billion. For the next year, analysts expect that the company will post sales of $2.70 billion per share, with estimates ranging from $2.58 billion to $2.77 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Affiliated Managers Group.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, January 29th. The asset manager reported $4.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.55 by $0.13. Affiliated Managers Group had a net margin of 29.92% and a return on equity of 18.61%. The business had revenue of $604.10 million for the quarter, compared to analyst estimates of $608.51 million. During the same period last year, the business posted $3.80 EPS. Affiliated Managers Group’s revenue was up 9.8% compared to the same quarter last year.

A number of research analysts recently issued reports on the stock. Deutsche Bank upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and lowered their target price for the company from $216.00 to $215.00 in a research note on Tuesday, February 13th. Barrington Research raised their target price on shares of Affiliated Managers Group to $240.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. They noted that the move was a valuation call. Citigroup raised their target price on shares of Affiliated Managers Group from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Credit Suisse Group restated a “hold” rating and issued a $215.00 price target on shares of Affiliated Managers Group in a research report on Friday, January 12th. Finally, Zacks Investment Research upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $225.00 price target on the stock in a research report on Tuesday, January 9th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $228.25.

Affiliated Managers Group (NYSE:AMG) traded up $1.73 during trading hours on Friday, reaching $189.03. 447,161 shares of the company were exchanged, compared to its average volume of 439,373. Affiliated Managers Group has a 1-year low of $148.81 and a 1-year high of $216.99. The company has a quick ratio of 0.54, a current ratio of 0.59 and a debt-to-equity ratio of 0.23. The firm has a market cap of $10,660.06, a price-to-earnings ratio of 15.92, a PEG ratio of 0.69 and a beta of 1.57.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.63%. This is a positive change from Affiliated Managers Group’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, February 7th. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 6.63%.

Affiliated Managers Group announced that its board has initiated a stock repurchase program on Monday, January 29th that authorizes the company to repurchase 3,400,000 outstanding shares. This repurchase authorization authorizes the asset manager to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

In other Affiliated Managers Group news, insider Peter W. Macewen sold 10,000 shares of the firm’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $197.67, for a total value of $1,976,700.00. Following the sale, the insider now directly owns 37,682 shares in the company, valued at approximately $7,448,600.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Advisor Group Inc. lifted its holdings in shares of Affiliated Managers Group by 46.2% during the 2nd quarter. Advisor Group Inc. now owns 722 shares of the asset manager’s stock worth $120,000 after acquiring an additional 228 shares during the period. Telemus Capital LLC lifted its holdings in shares of Affiliated Managers Group by 7.0% during the 4th quarter. Telemus Capital LLC now owns 3,860 shares of the asset manager’s stock worth $793,000 after acquiring an additional 253 shares during the period. Stephens Inc. AR lifted its holdings in shares of Affiliated Managers Group by 12.3% during the 4th quarter. Stephens Inc. AR now owns 2,568 shares of the asset manager’s stock worth $527,000 after acquiring an additional 282 shares during the period. Mutual of America Capital Management LLC lifted its holdings in shares of Affiliated Managers Group by 4.1% during the 3rd quarter. Mutual of America Capital Management LLC now owns 7,242 shares of the asset manager’s stock worth $1,375,000 after acquiring an additional 284 shares during the period. Finally, Fred Alger Management Inc. lifted its holdings in shares of Affiliated Managers Group by 3.1% during the 4th quarter. Fred Alger Management Inc. now owns 9,398 shares of the asset manager’s stock worth $1,929,000 after acquiring an additional 286 shares during the period. 95.07% of the stock is owned by institutional investors.

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Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.

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Earnings History and Estimates for Affiliated Managers Group (NYSE:AMG)

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