Zacks Research Has Negative Forecast for AMG FY2024 Earnings

Affiliated Managers Group, Inc. (NYSE:AMG) – Zacks Research reduced their FY2024 earnings per share (EPS) estimates for shares of Affiliated Managers Group in a note issued to investors on Thursday, January 2nd. Zacks Research analyst R. Department now anticipates that the asset manager will post earnings of $20.89 per share for the year, down from their previous forecast of $21.01. The consensus estimate for Affiliated Managers Group’s current full-year earnings is $20.91 per share. Zacks Research also issued estimates for Affiliated Managers Group’s Q4 2024 earnings at $6.03 EPS, Q1 2025 earnings at $5.07 EPS, Q2 2025 earnings at $4.90 EPS, Q3 2025 earnings at $5.57 EPS, Q2 2026 earnings at $6.30 EPS and Q3 2026 earnings at $6.74 EPS.

A number of other equities research analysts also recently weighed in on AMG. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. The Goldman Sachs Group downgraded Affiliated Managers Group from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $193.00 to $191.00 in a research note on Monday. TD Cowen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their price target for the stock from $226.00 to $177.00 in a research report on Tuesday, November 5th. Finally, Barrington Research cut their price objective on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $195.40.

Affiliated Managers Group Stock Performance

NYSE:AMG opened at $184.53 on Monday. The stock’s fifty day moving average price is $186.37 and its two-hundred day moving average price is $177.55. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 12.04, a P/E/G ratio of 0.69 and a beta of 1.15. Affiliated Managers Group has a 52-week low of $145.36 and a 52-week high of $199.52.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). The company had revenue of $525.20 million for the quarter, compared to analyst estimates of $521.87 million. Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. Affiliated Managers Group’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.08 earnings per share.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Thursday, November 14th. Affiliated Managers Group’s payout ratio is currently 0.26%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ensign Peak Advisors Inc grew its stake in Affiliated Managers Group by 0.6% in the 2nd quarter. Ensign Peak Advisors Inc now owns 9,902 shares of the asset manager’s stock valued at $1,547,000 after buying an additional 60 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Affiliated Managers Group by 21.4% during the third quarter. Covestor Ltd now owns 471 shares of the asset manager’s stock worth $84,000 after buying an additional 83 shares in the last quarter. OneDigital Investment Advisors LLC increased its position in Affiliated Managers Group by 1.9% during the third quarter. OneDigital Investment Advisors LLC now owns 4,712 shares of the asset manager’s stock worth $838,000 after acquiring an additional 90 shares during the period. GAMMA Investing LLC raised its stake in Affiliated Managers Group by 11.8% in the 4th quarter. GAMMA Investing LLC now owns 888 shares of the asset manager’s stock worth $164,000 after purchasing an additional 94 shares in the last quarter. Finally, Kendall Capital Management boosted its stake in shares of Affiliated Managers Group by 2.5% in the second quarter. Kendall Capital Management now owns 4,135 shares of the asset manager’s stock valued at $646,000 after buying an additional 100 shares during the period. 95.30% of the stock is currently owned by institutional investors.

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.