News stories about Affiliated Managers Group (NYSE:AMG) have been trending somewhat positive on Monday, according to Accern. The research group identifies positive and negative media coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Affiliated Managers Group earned a daily sentiment score of 0.08 on Accern’s scale. Accern also gave news headlines about the asset manager an impact score of 47.3544678344028 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Here are some of the headlines that may have impacted Accern Sentiment Analysis’s rankings:
- Affiliated Managers Group (AMG) Downgraded by BidaskClub (americanbankingnews.com)
- Affiliated Managers Group (AMG) Earns Buy Rating from Jefferies Group (americanbankingnews.com)
- Affiliated Managers Group (AMG) Receives “Buy” Rating from Keefe, Bruyette & Woods (americanbankingnews.com)
- Q2 2018 EPS Estimates for Affiliated Managers Group (AMG) Decreased by Jefferies Group (americanbankingnews.com)
- Keefe, Bruyette & Woods Downgrades Affiliated Managers Group (AMG) to Market Perform (streetinsider.com)
Shares of Affiliated Managers Group stock traded up $2.11 on Monday, reaching $171.36. 497,083 shares of the company were exchanged, compared to its average volume of 431,678. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $9,223.48, a price-to-earnings ratio of 11.74, a PEG ratio of 0.72 and a beta of 1.51. Affiliated Managers Group has a 1-year low of $148.81 and a 1-year high of $216.99.
Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, January 29th. The asset manager reported $4.68 earnings per share for the quarter, topping analysts’ consensus estimates of $4.55 by $0.13. The business had revenue of $604.10 million for the quarter, compared to analysts’ expectations of $608.51 million. Affiliated Managers Group had a return on equity of 18.61% and a net margin of 29.92%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.80 EPS. sell-side analysts predict that Affiliated Managers Group will post 16.92 earnings per share for the current year.
Affiliated Managers Group announced that its Board of Directors has authorized a share repurchase program on Monday, January 29th that authorizes the company to buyback 3,400,000 outstanding shares. This buyback authorization authorizes the asset manager to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.
Several brokerages have issued reports on AMG. Zacks Investment Research upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $230.00 price objective on the stock in a research note on Tuesday, January 2nd. Barrington Research upped their price objective on Affiliated Managers Group to $240.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. They noted that the move was a valuation call. Credit Suisse Group restated a “hold” rating and set a $215.00 price objective on shares of Affiliated Managers Group in a research note on Friday, January 12th. Goldman Sachs cut Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $216.00 price objective on the stock. in a research note on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods cut Affiliated Managers Group from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $250.00 to $206.00 in a research note on Wednesday, April 11th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $225.38.
In other news, CFO Jay C. Horgen sold 30,000 shares of the stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $189.59, for a total transaction of $5,687,700.00. Following the sale, the chief financial officer now directly owns 114,039 shares in the company, valued at approximately $21,620,654.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is currently owned by corporate insiders.
About Affiliated Managers Group
Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.
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