Teachers Retirement System of The State of Kentucky Reduces Stock Position in Affiliated Managers Group, Inc. $AMG

Teachers Retirement System of The State of Kentucky lessened its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 18.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,062 shares of the asset manager’s stock after selling 2,000 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Affiliated Managers Group were worth $2,161,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of AMG. Goldman Sachs Group Inc. boosted its stake in Affiliated Managers Group by 1.3% in the first quarter. Goldman Sachs Group Inc. now owns 113,353 shares of the asset manager’s stock valued at $19,047,000 after acquiring an additional 1,428 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Affiliated Managers Group by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 141,733 shares of the asset manager’s stock worth $23,815,000 after buying an additional 6,262 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Affiliated Managers Group in the 1st quarter worth approximately $1,947,000. Envestnet Asset Management Inc. boosted its stake in shares of Affiliated Managers Group by 9.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 58,721 shares of the asset manager’s stock worth $11,554,000 after acquiring an additional 4,994 shares in the last quarter. Finally, Huntington National Bank grew its holdings in shares of Affiliated Managers Group by 129.2% in the 2nd quarter. Huntington National Bank now owns 541 shares of the asset manager’s stock worth $106,000 after acquiring an additional 305 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on AMG. Deutsche Bank Aktiengesellschaft set a $408.00 price target on Affiliated Managers Group and gave the company a “buy” rating in a research report on Friday, February 13th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, January 21st. TD Cowen restated a “buy” rating on shares of Affiliated Managers Group in a report on Wednesday, January 14th. The Goldman Sachs Group increased their target price on Affiliated Managers Group from $300.00 to $341.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Finally, Zacks Research downgraded Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $350.14.

Affiliated Managers Group Stock Down 1.2%

Affiliated Managers Group stock opened at $299.45 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a fifty day moving average price of $310.03 and a two-hundred day moving average price of $269.75. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of 12.97, a P/E/G ratio of 0.48 and a beta of 1.18. Affiliated Managers Group, Inc. has a fifty-two week low of $139.22 and a fifty-two week high of $334.78.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Thursday, February 12th. The asset manager reported $9.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.75 by $0.73. The business had revenue of $556.60 million for the quarter, compared to analyst estimates of $578.54 million. Affiliated Managers Group had a net margin of 34.55% and a return on equity of 18.45%. Affiliated Managers Group’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.53 earnings per share. As a group, analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 9th. Investors of record on Monday, February 23rd will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date is Monday, February 23rd. Affiliated Managers Group’s dividend payout ratio is presently 0.17%.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.