Affiliated Managers Group Shares Plunge 3% Following Q4 Results
<p><a href='https://financialmodelingprep.com/financial-summary/AMG'>Affiliated Managers Group (NYSE:AMG)</a> shares fell more than 3% on Monday after the company reported its Q4 results, with revenue of $539.6 million coming in worse than the Street estimate of $605.95 million. EPS was $7.28, compared to the Street estimate of $7.09. </p>
<p>Management conservatively expects performance fees to be lower in 2023 (to $125-$175 million vs. $227 million in 2022), which combined with any major equity market downturn in coming months could prohibit positive EPS growth in 2023.</p>
<p>Analysts at Deutsche Bank raised their price target on the company to $92 from $187, noting that with the stock being pressured on the lower performance fee outlook, they would use this as a buying opportunity.</p>

NYSE:AMG