Affiliated Managers Group (NYSE:AMG) Posts Earnings Results, Beats Estimates By $0.50 EPS

Affiliated Managers Group (NYSE:AMG) announced its earnings results on Thursday. The asset manager reported $6.53 earnings per share for the quarter, beating the consensus estimate of $6.03 by $0.50, Zacks reports. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%.

Affiliated Managers Group Stock Performance

Shares of NYSE AMG traded down $0.19 during trading on Thursday, reaching $182.23. The stock had a trading volume of 193,957 shares, compared to its average volume of 192,879. The stock has a market cap of $5.51 billion, a PE ratio of 11.88, a P/E/G ratio of 0.69 and a beta of 1.15. Affiliated Managers Group has a one year low of $147.13 and a one year high of $199.52. The firm’s 50 day moving average price is $185.34 and its two-hundred day moving average price is $181.10.

Analyst Ratings Changes

A number of research firms have weighed in on AMG. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a research report on Monday, November 11th. TD Cowen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating and lowered their price objective for the company from $226.00 to $177.00 in a research note on Tuesday, November 5th. Barrington Research dropped 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. Finally, The Goldman Sachs Group cut Affiliated Managers Group from a “buy” rating to a “neutral” rating and reduced their target price for the company from $193.00 to $191.00 in a research note on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Affiliated Managers Group presently has an average rating of “Hold” and a consensus price target of $195.40.

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.