New York State Teachers Retirement System Has $6.23 Million Stock Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

New York State Teachers Retirement System trimmed its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 10.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,098 shares of the asset manager’s stock after selling 4,100 shares during the quarter. New York State Teachers Retirement System owned 0.13% of Affiliated Managers Group worth $6,234,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMG. Jones Financial Companies Lllp lifted its holdings in shares of Affiliated Managers Group by 79.5% during the fourth quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager’s stock worth $26,000 after purchasing an additional 62 shares during the period. Versant Capital Management Inc raised its position in Affiliated Managers Group by 70.8% during the 1st quarter. Versant Capital Management Inc now owns 181 shares of the asset manager’s stock worth $30,000 after purchasing an additional 75 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in Affiliated Managers Group during the 4th quarter worth about $70,000. Parallel Advisors LLC grew its position in shares of Affiliated Managers Group by 6.8% in the 1st quarter. Parallel Advisors LLC now owns 1,170 shares of the asset manager’s stock valued at $197,000 after buying an additional 75 shares during the last quarter. Finally, Lingohr Asset Management GmbH bought a new stake in shares of Affiliated Managers Group in the 4th quarter valued at about $204,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Up 0.5%

Shares of AMG stock opened at $201.45 on Friday. The firm has a 50 day moving average of $181.64 and a 200-day moving average of $175.21. The company has a market cap of $5.73 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 0.68 and a beta of 1.09. Affiliated Managers Group, Inc. has a 52 week low of $139.22 and a 52 week high of $202.67.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Thursday, May 8th. The asset manager reported $5.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.10 by $0.10. Affiliated Managers Group had a net margin of 21.31% and a return on equity of 15.91%. The business had revenue of $496.60 million for the quarter, compared to analyst estimates of $508.00 million. During the same period in the prior year, the firm earned $5.37 earnings per share. Analysts anticipate 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 was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. Affiliated Managers Group’s dividend payout ratio is presently 0.30%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. TD Cowen lowered their price objective on Affiliated Managers Group from $187.00 to $168.00 and set a “hold” rating for the company in a research report on Wednesday, April 9th. Wall Street Zen lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Barrington Research reduced their price objective on shares of Affiliated Managers Group from $215.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 8th. Bank of America decreased their price objective on shares of Affiliated Managers Group from $211.00 to $195.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Finally, Cowen reissued a “hold” rating on shares of Affiliated Managers Group in a research note on Wednesday, May 14th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $197.80.

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.