Affiliated Managers Group (AMG) reported quarterly earnings results on Tuesday, May-3-2016. The company said it had a profit of $2.94 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $2.92. The company posted revenue of $545.40 million in the period, compared to analysts expectations of $584.71 million. The company’s revenue was down -14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.91 EPS.
Many Wall Street Analysts have commented on Affiliated Managers Group. Affiliated Managers Group was Upgraded by Citigroup to ” Buy” on Apr 25, 2016.
Affiliated Managers Group opened for trading at $170.29 and hit $172.83 on the upside on Monday, eventually ending the session at $171.85, with a gain of 0.90% or 1.53 points. The heightened volatility saw the trading volume jump to 7,33,554 shares. Company has a market cap of $9,281 M.
In a different news, on Jun 9, 2015, Nathaniel Dalton (President and COO) sold 75,000 shares at $221.85 per share price. According to the SEC, on May 5, 2015, Jay C. Horgen (CFO and Treasurer) sold 22,411 shares at $226.97 per share price. On May 5, 2015, William J Nutt (director) sold 5,625 shares at $227.25 per share price, according to the Form-4 filing with the securities and exchange commission.
Affiliated Managers Group Inc. (AMG) is a global asset management company with equity investments in a diverse group of boutique investment management firms (Affiliates). The Company manages approximately $620.2 billion in assets through its affiliates across a range of asset classes and investment styles in three principal distribution channels: institutional mutual fund and high net worth. The Companys Institutional Distribution Channel through its Affiliates manages assets for large institutional investors across the world including sovereign wealth funds foundations endowments and retirement plans for corporations and municipalities. As part of the Companys mutual fund distribution channel the Company through its Affiliates provides advisory or sub-advisory services to mutual funds UCITS and other retail-oriented products. Through the Companys affiliates it provides advisory services to ultra-high net worth individuals and family trusts.