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

Affiliated Managers Group (NYSE:AMG) posted its quarterly earnings data on Thursday. The asset manager reported $6.53 EPS for the quarter, topping 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 Down 0.7 %

Shares of NYSE AMG traded down $1.27 during trading on Thursday, reaching $181.15. 171,870 shares of the company traded hands, compared to its average volume of 192,027. The firm has a 50 day simple moving average of $185.34 and a 200-day simple moving average of $181.10. Affiliated Managers Group has a 52-week low of $147.13 and a 52-week high of $199.52. The stock has a market capitalization of $5.48 billion, a PE ratio of 11.82, a P/E/G ratio of 0.69 and a beta of 1.15.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMG. Barrington Research lowered their price objective on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. TD Cowen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating and lowered their price target for the stock from $226.00 to $177.00 in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased 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. Finally, The Goldman Sachs Group cut shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $193.00 to $191.00 in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Affiliated Managers Group has an average rating of “Hold” and an average 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.