Mutual of America Capital Management LLC Reduces Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Posted by Defense World Staff on Aug 5th, 2023

Mutual of America Capital Management LLC decreased its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG – Free Report) by 2.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,318 shares of the asset manager’s stock after selling 639 shares during the period. Mutual of America Capital Management LLC owned about 0.08% of Affiliated Managers Group worth $4,318,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System grew its holdings in Affiliated Managers Group by 2.6% during the 4th quarter. Arizona State Retirement System now owns 10,786 shares of the asset manager’s stock worth $1,709,000 after acquiring an additional 276 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Affiliated Managers Group by 11.8% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,946 shares of the asset manager’s stock worth $2,685,000 after acquiring an additional 1,790 shares in the last quarter. Oliver Luxxe Assets LLC acquired a new position in Affiliated Managers Group during the 1st quarter worth $457,000. Envestnet Asset Management Inc. grew its holdings in Affiliated Managers Group by 4.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 15,062 shares of the asset manager’s stock worth $2,386,000 after acquiring an additional 633 shares in the last quarter. Finally, Amalgamated Bank grew its holdings in Affiliated Managers Group by 20.9% during the 4th quarter. Amalgamated Bank now owns 33,106 shares of the asset manager’s stock worth $5,245,000 after acquiring an additional 5,734 shares in the last quarter. Hedge funds and other institutional investors own 96.89% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on AMG. Jefferies Financial Group raised their price objective on shares of Affiliated Managers Group from $175.00 to $176.00 in a report on Monday, July 10th. StockNews.com initiated coverage on shares of Affiliated Managers Group in a report on Thursday, May 18th. They set a “buy” rating for the company. Finally, Barrington Research decreased their price target on shares of Affiliated Managers Group from $195.00 to $175.00 in a report on Wednesday, July 26th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Affiliated Managers Group presently has an average rating of “Moderate Buy” and an average price target of $180.08.

Affiliated Managers Group Stock Performance

NYSE AMG opened at $139.71 on Friday. Affiliated Managers Group, Inc. has a one year low of $108.12 and a one year high of $180.63. The company has a 50-day simple moving average of $148.55 and a 200-day simple moving average of $149.58. The firm has a market capitalization of $5.04 billion, a PE ratio of 5.19, a price-to-earnings-growth ratio of 0.73 and a beta of 1.32.

Affiliated Managers Group (NYSE:AMG – Get Free Report) last posted its quarterly earnings results on Wednesday, July 26th. The asset manager reported $4.45 EPS for the quarter, beating the consensus estimate of $4.23 by $0.22. The business had revenue of $512.50 million during the quarter, compared to analyst estimates of $540.32 million. Affiliated Managers Group had a net margin of 53.54% and a return on equity of 18.93%. The company’s quarterly revenue was down 15.2% on a year-over-year basis. During the same period in the previous year, the business posted $4.03 EPS. Equities analysts forecast that Affiliated Managers Group, Inc. will post 17.95 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Monday, August 7th will be given a $0.01 dividend. The ex-dividend date of this dividend is Friday, August 4th. This represents a $0.04 annualized dividend and a yield of 0.03%. Affiliated Managers Group’s dividend payout ratio is presently 0.15%.

Affiliated Managers Group Company Profile

(Free Report)

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.