New York State Common Retirement Fund Sells 1,853 Shares of Affiliated Managers Group, Inc. $AMG

New York State Common Retirement Fund reduced its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 124,562 shares of the asset manager’s stock after selling 1,853 shares during the quarter. New York State Common Retirement Fund owned 0.44% of Affiliated Managers Group worth $29,699,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of AMG. Norges Bank purchased a new stake in Affiliated Managers Group in the second quarter valued at approximately $71,779,000. Balyasny Asset Management L.P. increased its holdings in shares of Affiliated Managers Group by 3,811.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager’s stock worth $61,271,000 after buying an additional 303,423 shares during the last quarter. Holocene Advisors LP purchased a new stake in shares of Affiliated Managers Group during the 2nd quarter valued at $19,865,000. Treasurer of the State of North Carolina lifted its holdings in shares of Affiliated Managers Group by 124.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 96,177 shares of the asset manager’s stock worth $18,925,000 after acquiring an additional 53,330 shares during the last quarter. Finally, First Trust Advisors LP grew its position in Affiliated Managers Group by 18.1% in the second quarter. First Trust Advisors LP now owns 234,679 shares of the asset manager’s stock worth $46,178,000 after acquiring an additional 36,045 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Up 0.2%

Shares of Affiliated Managers Group stock opened at $313.24 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 1.30. Affiliated Managers Group, Inc. has a 52-week low of $139.22 and a 52-week high of $333.99. The company’s 50 day moving average price is $292.83 and its 200-day moving average price is $253.30. The stock has a market capitalization of $8.81 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 0.58 and a beta of 1.19.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, November 3rd. The asset manager reported $6.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.88 by $0.22. The business had revenue of $528.00 million for the quarter, compared to analyst estimates of $543.39 million. Affiliated Managers Group had a net margin of 26.01% and a return on equity of 16.75%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $4.82 EPS. Equities research analysts forecast that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Thursday, November 13th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is presently 0.24%.

Analysts Set New Price Targets

A number of research firms have weighed in on AMG. Zacks Research downgraded Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Weiss Ratings reissued 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 research report on Wednesday, January 14th. The Goldman Sachs Group increased their price target on shares of Affiliated Managers Group from $300.00 to $341.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $282.00 price objective on shares of Affiliated Managers Group in a report on Tuesday, November 4th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $340.50.

Affiliated Managers Group 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.