Affiliated Managers Group (NYSE:AMG) Updates Q4 Earnings Guidance

Affiliated Managers Group (NYSE:AMG) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $5.94-6.17 for the period, compared to the consensus earnings per share estimate of $7.26.

Affiliated Managers Group Price Performance

Shares of NYSE:AMG traded down $17.11 during midday trading on Monday, hitting $176.70. 91,370 shares of the company’s stock were exchanged, compared to its average volume of 238,966. Affiliated Managers Group has a 12 month low of $129.57 and a 12 month high of $199.52. The company has a market cap of $5.27 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 0.62 and a beta of 1.18. The stock has a 50 day moving average price of $180.27 and a 200-day moving average price of $168.47.

Analyst Ratings Changes

Several brokerages have recently commented on AMG. Deutsche Bank Aktiengesellschaft increased their price objective on Affiliated Managers Group from $202.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. StockNews.com cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. TD Cowen upped their target price on shares of Affiliated Managers Group from $201.00 to $226.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Bank of America increased their target price on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, Barrington Research restated an “outperform” rating and set a $210.00 price target on shares of Affiliated Managers Group in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $210.50.

Insider Buying and Selling at Affiliated Managers Group

In other Affiliated Managers Group news, CEO Jay C. Horgen sold 9,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $171.98, for a total value of $1,547,820.00. Following the transaction, the chief executive officer now directly owns 377,276 shares in the company, valued at $64,883,926.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Rizwan M. Jamal sold 8,622 shares of Affiliated Managers Group stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $172.89, for a total value of $1,490,657.58. Following the completion of the sale, the insider now owns 128,457 shares of the company’s stock, valued at approximately $22,208,930.73. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jay C. Horgen sold 9,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $171.98, for a total value of $1,547,820.00. Following the completion of the sale, the chief executive officer now owns 377,276 shares in the company, valued at $64,883,926.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,408 shares of company stock worth $3,865,068 in the last quarter. 1.90% of the stock is currently owned by company insiders.

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.