From MarketBeat:

Affiliated Managers Group (NYSE:AMG) is expected to post earnings per share of $18.65 for 2023, up from the previous estimate of $18.46. Barrington Research raised their forecast for the company and has an “Outperform” rating and a $175.00 target price. Other analysts have given the stock a consensus target price of $168.20.

Shares of Affiliated Managers Group stock opened at $150.00 on Friday, with a market capitalization of $5.07 billion. The firm’s 50-day moving average price is $143.08 and its 200 day moving average price is $138.43.

Affiliated Managers Group reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.74 by $0.34. The firm had revenue of $525.50 million for the quarter, a 9.2% decrease from the same quarter last year.

Institutional investors recently made changes to their positions in Affiliated Managers Group, with hedge funds and other institutional investors now owning 92.89% of the company’s stock.

The company also recently declared a quarterly dividend, paying stockholders $0.01 per share on November 30th, with a dividend yield of 0.03%. The company’s payout ratio is presently 0.14%.

Affiliated Managers Group, Inc., provides investment management services to mutual funds, institutional clients, and retail and high net worth individuals in the United States. The company offers advisory services to mutual funds.

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Read more: Barrington Research Equities Analysts Raise Earnings Estimates for Affiliated Managers Group, Inc. (NYSE:AMG)