Teacher Retirement System of Texas Sells 672 Shares of Affiliated Managers Group, Inc. $AMG

Teacher Retirement System of Texas decreased its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 7.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,529 shares of the asset manager’s stock after selling 672 shares during the period. Teacher Retirement System of Texas’ holdings in Affiliated Managers Group were worth $1,678,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Millstone Evans Group LLC raised its position in Affiliated Managers Group by 154.5% in the first quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager’s stock worth $28,000 after acquiring an additional 102 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in Affiliated Managers Group in the first quarter worth approximately $36,000. Thurston Springer Miller Herd & Titak Inc. raised its position in Affiliated Managers Group by 80.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 229 shares of the asset manager’s stock worth $45,000 after acquiring an additional 102 shares during the period. Private Trust Co. NA raised its position in Affiliated Managers Group by 38.1% in the first quarter. Private Trust Co. NA now owns 301 shares of the asset manager’s stock worth $51,000 after acquiring an additional 83 shares during the period. Finally, Cullen Frost Bankers Inc. bought a new position in Affiliated Managers Group in the first quarter worth approximately $56,000. 95.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AMG shares. Zacks Research downgraded shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. TD Cowen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $214.00 to $255.00 in a research note on Monday, August 4th. Cowen reiterated a “buy” rating on shares of Affiliated Managers Group in a research note on Tuesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $282.00 price objective on shares of Affiliated Managers Group in a research note on Tuesday. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $278.57.

Insider Activity at Affiliated Managers Group

In other news, COO Thomas M. Wojcik sold 16,000 shares of the firm’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $231.03, for a total transaction of $3,696,480.00. Following the sale, the chief operating officer directly owned 158,710 shares in the company, valued at $36,666,771.30. This trade represents a 9.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.20% of the stock is owned by insiders.

Affiliated Managers Group Price Performance

Shares of AMG stock opened at $251.78 on Wednesday. The company has a market capitalization of $7.15 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 0.61 and a beta of 1.21. Affiliated Managers Group, Inc. has a one year low of $139.22 and a one year high of $256.81. The company’s fifty day moving average price is $237.21 and its 200-day moving average price is $208.44.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, November 3rd. The asset manager reported $6.10 EPS for the quarter, beating the consensus estimate of $5.88 by $0.22. The firm had revenue of $528.00 million for the quarter, compared to the consensus estimate of $543.39 million. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. The company’s revenue was up 2.2% on a year-over-year basis. During the same period last year, the firm earned $4.82 EPS. Equities research analysts expect that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Thursday, November 13th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date is Thursday, November 13th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.29%.

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.