Trade Report: The Affiliated Managers Group Inc. (AMG) Forecasted to Post Q3 2016 Earnings of $3.02 Per Share

The Affiliated Managers Group Inc. (AMG) Forecasted to Post Q3 2016 Earnings of $3.02 Per Share

Affiliated Managers Group Inc. (NYSE:AMG) – Analysts at Jefferies Group increased their Q3 2016 earnings estimates for shares of Affiliated Managers Group in a research note issued to investors on Tuesday. Jefferies Group analyst D. Fannon now forecasts that the firm will post earnings of $3.02 per share for the quarter, up from their prior estimate of $3.01. Jefferies Group currently has a “Buy” rating and a $193.00 price target on the stock.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, August 1st. The company reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.01 by $0.05. Affiliated Managers Group had a return on equity of 18.39% and a net margin of 20.47%. The company earned $646.60 million during the quarter, compared to the consensus estimate of $565.16 million. During the same period in the prior year, the company earned $3.08 earnings per share. The company’s revenue for the quarter was down 14.3% compared to the same quarter last year.

A number of other brokerages also recently issued reports on AMG. Credit Suisse Group AG reiterated an “outperform” rating and issued a $212.00 price target on shares of Affiliated Managers Group in a report on Thursday, September 8th. Zacks Investment Research upgraded shares of Affiliated Managers Group from a “sell” rating to a “hold” rating in a report on Friday, September 9th. Deutsche Bank AG lifted their price target on shares of Affiliated Managers Group from $184.00 to $191.00 and gave the company a “buy” rating in a report on Friday, September 9th. Capital One Financial Corp. reiterated a “buy” rating and issued a $188.00 price target on shares of Affiliated Managers Group in a report on Wednesday, October 5th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Affiliated Managers Group from $215.00 to $196.00 and set an “outperform” rating on the stock in a report on Tuesday, August 2nd. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Affiliated Managers Group currently has an average rating of “Buy” and a consensus price target of $179.75.

Shares of Affiliated Managers Group (NYSE:AMG) opened at 142.34 on Thursday. The company has a market capitalization of $7.67 billion, a P/E ratio of 16.55 and a beta of 1.56. The firm has a 50 day moving average price of $145.10 and a 200 day moving average price of $153.23. Affiliated Managers Group has a one year low of $115.97 and a one year high of $190.74.

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Affiliated Managers Group by 1.7% in the second quarter. Vanguard Group Inc. now owns 4,739,377 shares of the company’s stock valued at $667,161,000 after buying an additional 78,317 shares during the period. Atlanta Capital Management Co. L L C boosted its stake in Affiliated Managers Group by 7.5% in the second quarter. Atlanta Capital Management Co. L L C now owns 1,844,648 shares of the company’s stock valued at $259,672,000 after buying an additional 129,121 shares during the period. JPMorgan Chase & Co. boosted its stake in Affiliated Managers Group by 0.3% in the second quarter. JPMorgan Chase & Co. now owns 1,216,199 shares of the company’s stock valued at $171,204,000 after buying an additional 3,307 shares during the period. BlackRock Fund Advisors boosted its stake in Affiliated Managers Group by 2.2% in the second quarter. BlackRock Fund Advisors now owns 867,660 shares of the company’s stock valued at $122,140,000 after buying an additional 19,065 shares during the period. Finally, Jackson Square Partners LLC boosted its stake in Affiliated Managers Group by 14.8% in the first quarter. Jackson Square Partners LLC now owns 742,972 shares of the company’s stock valued at $120,658,000 after buying an additional 95,592 shares during the period.

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