State of New Jersey Common Pension Fund D Decreases Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

State of New Jersey Common Pension Fund D decreased its position in Affiliated Managers Group, Inc. (NYSE:AMGGet Rating) by 12.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,289 shares of the asset manager’s stock after selling 2,934 shares during the period. State of New Jersey Common Pension Fund D owned 0.05% of Affiliated Managers Group worth $2,269,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMG. Parallel Advisors LLC increased its stake in Affiliated Managers Group by 86.8% in the 2nd quarter. Parallel Advisors LLC now owns 241 shares of the asset manager’s stock valued at $28,000 after buying an additional 112 shares during the last quarter. Fifth Third Bancorp increased its stake in Affiliated Managers Group by 57.7% in the 2nd quarter. Fifth Third Bancorp now owns 257 shares of the asset manager’s stock valued at $30,000 after buying an additional 94 shares during the last quarter. Truvestments Capital LLC purchased a new stake in Affiliated Managers Group in the 2nd quarter valued at about $38,000. Lazard Asset Management LLC increased its stake in Affiliated Managers Group by 76.3% in the 1st quarter. Lazard Asset Management LLC now owns 275 shares of the asset manager’s stock valued at $38,000 after buying an additional 119 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its stake in Affiliated Managers Group by 68.7% in the 2nd quarter. Quadrant Capital Group LLC now owns 366 shares of the asset manager’s stock valued at $43,000 after buying an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 95.31% of the company’s stock.

Affiliated Managers Group Trading Down 0.8 %

Affiliated Managers Group stock opened at $168.42 on Tuesday. Affiliated Managers Group, Inc. has a 1-year low of $108.12 and a 1-year high of $172.01. The firm has a market capitalization of $6.34 billion, a price-to-earnings ratio of 12.87, a P/E/G ratio of 0.78 and a beta of 1.31. The firm has a 50 day simple moving average of $158.10 and a 200 day simple moving average of $136.08.

Affiliated Managers Group (NYSE:AMGGet Rating) last released its quarterly earnings data on Monday, November 7th. The asset manager reported $4.21 earnings per share for the quarter, beating analysts’ consensus estimates of $3.92 by $0.29. Affiliated Managers Group had a net margin of 22.02% and a return on equity of 21.15%. The business had revenue of $578.60 million during the quarter, compared to analyst estimates of $553.29 million. On average, equities research analysts forecast that Affiliated Managers Group, Inc. will post 19.68 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 1st. Shareholders of record on Thursday, November 17th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date was Wednesday, November 16th. Affiliated Managers Group’s payout ratio is 0.31%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AMG. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Affiliated Managers Group from $191.00 to $187.00 in a research note on Wednesday, January 11th. Jefferies Financial Group upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $149.00 to $192.00 in a research note on Monday, November 28th. The Goldman Sachs Group began coverage on shares of Affiliated Managers Group in a research note on Monday, November 21st. They set a “buy” rating and a $182.00 price target for the company. StockNews.com lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Thursday, January 12th. Finally, Barrington Research raised their price target on shares of Affiliated Managers Group from $145.00 to $155.00 in a research note on Monday, November 7th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $178.79.

Affiliated Managers Group Company Profile

(Get Rating)

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.

See Also

Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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