Arizona State Retirement System Sells 481 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Arizona State Retirement System lessened its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,798 shares of the asset manager’s stock after selling 481 shares during the quarter. Arizona State Retirement System’s holdings in Affiliated Managers Group were worth $1,484,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Morgan Stanley grew its position in Affiliated Managers Group by 907.4% during the 4th quarter. Morgan Stanley now owns 2,772,941 shares of the asset manager’s stock worth $439,317,000 after purchasing an additional 2,497,690 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Affiliated Managers Group by 4,914.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 755,310 shares of the asset manager’s stock worth $1,960,000 after purchasing an additional 740,248 shares during the last quarter. Norges Bank purchased a new stake in Affiliated Managers Group during the 4th quarter worth approximately $74,919,000. Deutsche Bank AG grew its position in Affiliated Managers Group by 193.7% during the 1st quarter. Deutsche Bank AG now owns 312,399 shares of the asset manager’s stock worth $44,492,000 after purchasing an additional 206,044 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in Affiliated Managers Group by 24,288.6% during the 4th quarter. Lazard Asset Management LLC now owns 165,355 shares of the asset manager’s stock worth $26,197,000 after purchasing an additional 164,677 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Price Performance

Shares of AMG stock opened at $162.17 on Friday. The firm’s 50-day moving average is $160.40 and its two-hundred day moving average is $146.22. Affiliated Managers Group, Inc. has a 12 month low of $120.22 and a 12 month high of $169.65. The company has a market capitalization of $5.32 billion, a PE ratio of 9.35, a price-to-earnings-growth ratio of 0.58 and a beta of 1.31.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, February 5th. The asset manager reported $6.86 EPS for the quarter, topping analysts’ consensus estimates of $6.03 by $0.83. Affiliated Managers Group had a net margin of 32.71% and a return on equity of 16.29%. The company had revenue of $502.70 million for the quarter, compared to the consensus estimate of $524.98 million. During the same period in the previous year, the firm earned $7.28 earnings per share. Affiliated Managers Group’s quarterly revenue was down 6.8% compared to the same quarter last year. Sell-side analysts forecast that Affiliated Managers Group, Inc. will post 22.03 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date was Wednesday, February 14th. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.23%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. TD Cowen assumed coverage on shares of Affiliated Managers Group in a research note on Thursday, January 4th. They issued an “outperform” rating and a $185.00 price objective on the stock. Barrington Research increased their price objective on shares of Affiliated Managers Group from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 9th.

About Affiliated Managers Group

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.