Published on 5 Apr 2024 on Zacks via Yahoo Finance
Affiliated Managers Group, Inc. (AMG) Hit a 52 Week High, Can the Run Continue?
Shares of Affiliated Managers Group (AMG) have been strong performers lately, with the stock up 2.4% over the past month. The stock hit a new 52-week high of $168.63 in the previous session. Affiliated Managers Group has gained 8.2% since the start of the year compared to the 6.2% move for the Zacks Finance sector and the 8.2% return for the Zacks Financial - Investment Management industry.
What's Driving the Outperformance?
The stock has a great record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on February 5, 2024, Affiliated Managers reported EPS of $6.86 versus consensus estimate of $6 while it missed the consensus revenue estimate by 5.51%.