Retirement Systems of Alabama trimmed its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG – Get Rating) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 49,649 shares of the asset manager’s stock after selling 396 shares during the quarter. Retirement Systems of Alabama owned 0.13% of Affiliated Managers Group worth $7,866,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. IFP Advisors Inc raised its stake in shares of Affiliated Managers Group by 56.2% during the 3rd quarter. IFP Advisors Inc now owns 439 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 158 shares during the period. Parallel Advisors LLC lifted its stake in Affiliated Managers Group by 62.2% in the 4th quarter. Parallel Advisors LLC now owns 219 shares of the asset manager’s stock worth $35,000 after purchasing an additional 84 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in Affiliated Managers Group by 76.3% in the 1st quarter. Lazard Asset Management LLC now owns 275 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 119 shares during the period. Quadrant Capital Group LLC grew its position in shares of Affiliated Managers Group by 35.0% during the 3rd quarter. Quadrant Capital Group LLC now owns 494 shares of the asset manager’s stock valued at $55,000 after purchasing an additional 128 shares in the last quarter. Finally, EverSource Wealth Advisors LLC bought a new position in shares of Affiliated Managers Group in the third quarter worth $58,000. 95.31% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the company. Bank of America boosted their target price on Affiliated Managers Group from $182.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 5th. Barrington Research lifted their price target on Affiliated Managers Group from $155.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday, February 6th. StockNews.com started coverage on Affiliated Managers Group in a research report on Thursday, March 16th. They set a “buy” rating for the company. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Affiliated Managers Group from $187.00 to $192.00 and gave the company a “buy” rating in a research report on Monday, February 6th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Affiliated Managers Group currently has an average rating of “Moderate Buy” and a consensus target price of $186.06.
Affiliated Managers Group Price Performance
Affiliated Managers Group (NYSE:AMG – Get Rating) last released its earnings results on Monday, February 6th. The asset manager reported $7.28 earnings per share for the quarter, topping analysts’ consensus estimates of $7.03 by $0.25. The company had revenue of $539.60 million during the quarter, compared to the consensus estimate of $599.42 million. Affiliated Managers Group had a return on equity of 21.29% and a net margin of 49.18%. During the same quarter in the previous year, the company posted $6.10 EPS. As a group, sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 18.98 EPS for the current year.
Affiliated Managers Group Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 2nd. Shareholders of record on Thursday, February 16th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Wednesday, February 15th. Affiliated Managers Group’s dividend payout ratio is presently 0.15%.
Insiders Place Their Bets
In related news, Director Reuben Jeffery III acquired 3,650 shares of the stock in a transaction on Thursday, March 16th. The stock was purchased at an average price of $137.21 per share, for a total transaction of $500,816.50. Following the completion of the transaction, the director now owns 31,726 shares of the company’s stock, valued at approximately $4,353,124.46. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by insiders.
About Affiliated Managers Group
Affiliated Managers Group, Inc engages in the provision of asset management with equity investment. The company was founded by in December 1993 and is headquartered in West Palm Beach, FL.
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