According to Zacks, “Affiliated Managers’ shares have underperformed the industry over the past six months. The company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the trailing four quarters. The company's first-quarter 2019 results were hurt by lower revenues and fall in assets under management (AUM). The company remains well positioned for growth, based on successful partnerships, diverse product mix, focus on strengthening retail market operations and solid AUM balance. Moreover, its enhanced capital deployment plan reflects a strong balance sheet position. However, high debt levels will likely limit the company’s flexibility. Moreover, the presence of substantial intangible assets on its balance sheet remains a major concern as it might hurt financials.”
AMG has been the topic of several other reports. ValuEngine cut Affiliated Managers Group from a sell rating to a strong sell rating in a report on Monday, April 1st. Citigroup cut Affiliated Managers Group from a buy rating to a neutral rating in a report on Monday, January 14th. Deutsche Bank cut Affiliated Managers Group from a buy rating to a hold rating and lowered their price objective for the stock from $158.00 to $106.00 in a report on Thursday, January 10th. Jefferies Financial Group cut Affiliated Managers Group from a buy rating to a hold rating and set a $109.87 price objective on the stock. in a report on Tuesday, January 29th. Finally, Barrington Research reiterated a buy rating and issued a $135.00 price objective on shares of Affiliated Managers Group in a report on Tuesday, January 8th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Affiliated Managers Group presently has an average rating of Hold and a consensus target price of $130.86.
Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, May 6th. The asset manager reported $3.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.27 by ($0.01). Affiliated Managers Group had a positive return on equity of 17.72% and a negative net margin of 4.77%. The firm had revenue of $543.10 million during the quarter, compared to analyst estimates of $541.42 million. During the same quarter in the previous year, the firm posted $3.92 earnings per share. The company’s quarterly revenue was down 11.3% on a year-over-year basis. As a group, analysts expect that Affiliated Managers Group will post 13.92 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Wednesday, May 15th. Affiliated Managers Group’s dividend payout ratio (DPR) is 8.83%.
In other Affiliated Managers Group news, Director Tracy P. Palandjian sold 1,694 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $110.64, for a total value of $187,424.16. Following the transaction, the director now directly owns 4,291 shares of the company’s stock, valued at approximately $474,756.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.43% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. AlphaCrest Capital Management LLC lifted its stake in Affiliated Managers Group by 310.7% in the 1st quarter. AlphaCrest Capital Management LLC now owns 9,447 shares of the asset manager’s stock worth $1,012,000 after purchasing an additional 7,147 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new position in Affiliated Managers Group in the 1st quarter worth approximately $551,000. Rockefeller Capital Management L.P. purchased a new position in Affiliated Managers Group in the 1st quarter worth approximately $30,000. Dimensional Fund Advisors LP lifted its stake in Affiliated Managers Group by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 358,267 shares of the asset manager’s stock worth $38,373,000 after purchasing an additional 14,030 shares in the last quarter. Finally, Financial Counselors Inc. lifted its stake in Affiliated Managers Group by 8.4% in the 1st quarter. Financial Counselors Inc. now owns 25,632 shares of the asset manager’s stock worth $2,745,000 after purchasing an additional 1,989 shares in the last quarter. 99.14% of the stock is currently owned by institutional investors and hedge funds.
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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