Strs Ohio Trims Holdings in Affiliated Managers Group, Inc. $AMG

Strs Ohio reduced its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 93.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 660 shares of the asset manager’s stock after selling 9,887 shares during the quarter. Strs Ohio’s holdings in Affiliated Managers Group were worth $157,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. LSV Asset Management lifted its holdings in Affiliated Managers Group by 1.7% during the 2nd quarter. LSV Asset Management now owns 476,224 shares of the asset manager’s stock valued at $93,707,000 after buying an additional 8,140 shares in the last quarter. Norges Bank bought a new stake in shares of Affiliated Managers Group during the second quarter valued at approximately $71,779,000. Allianz Asset Management GmbH boosted its holdings in shares of Affiliated Managers Group by 10.8% in the second quarter. Allianz Asset Management GmbH now owns 342,942 shares of the asset manager’s stock valued at $67,481,000 after purchasing an additional 33,415 shares during the period. Balyasny Asset Management L.P. boosted its holdings in shares of Affiliated Managers Group by 3,811.8% in the second quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager’s stock valued at $61,271,000 after purchasing an additional 303,423 shares during the period. Finally, First Trust Advisors LP grew its stake 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 purchasing an additional 36,045 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Affiliated Managers Group Trading Down 2.6%

NYSE AMG opened at $308.14 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The firm has a market cap of $8.67 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 0.59 and a beta of 1.21. The company has a 50 day moving average price of $294.74 and a 200 day moving average price of $255.45. Affiliated Managers Group, Inc. has a 52 week low of $139.22 and a 52 week high of $333.99.

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on AMG. The Goldman Sachs Group increased their price target on Affiliated Managers Group from $300.00 to $341.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Zacks Research lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 21st. Wall Street Zen upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Barrington Research increased their price objective on shares of Affiliated Managers Group from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company 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.