Maryland State Retirement & Pension System Trims Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Posted by Defense World Staff on Sep 29th, 2023

Maryland State Retirement & Pension System decreased its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG – Free Report) by 13.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 2,720 shares of the asset manager’s stock after selling 409 shares during the period. Maryland State Retirement & Pension System’s holdings in Affiliated Managers Group were worth $408,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in Affiliated Managers Group by 1.2% during the third quarter. Vanguard Group Inc. now owns 3,791,126 shares of the asset manager’s stock worth $424,037,000 after purchasing an additional 43,391 shares during the last quarter. Morgan Stanley increased its position in Affiliated Managers Group by 907.4% during the fourth quarter. Morgan Stanley now owns 2,772,941 shares of the asset manager’s stock worth $439,317,000 after purchasing an additional 2,497,690 shares during the last quarter. FMR LLC increased its position in Affiliated Managers Group by 8.3% during the first quarter. FMR LLC now owns 1,693,104 shares of the asset manager’s stock worth $241,132,000 after purchasing an additional 129,705 shares during the last quarter. State Street Corp increased its position in Affiliated Managers Group by 4.2% during the first quarter. State Street Corp now owns 1,352,135 shares of the asset manager’s stock worth $190,583,000 after purchasing an additional 54,161 shares during the last quarter. Finally, Ariel Investments LLC increased its position in Affiliated Managers Group by 4.4% during the first quarter. Ariel Investments LLC now owns 937,224 shares of the asset manager’s stock worth $132,102,000 after purchasing an additional 39,576 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Affiliated Managers Group Trading Up 0.1 %

AMG opened at $132.20 on Friday. The company has a fifty day simple moving average of $136.00 and a 200 day simple moving average of $141.21. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 4.91, a PEG ratio of 0.77 and a beta of 1.33. Affiliated Managers Group, Inc. has a twelve month low of $108.12 and a twelve month high of $180.63.

Affiliated Managers Group (NYSE:AMG – Get Free Report) last posted its quarterly earnings data on Wednesday, July 26th. The asset manager reported $4.45 EPS for the quarter, beating analysts’ consensus estimates of $4.23 by $0.22. Affiliated Managers Group had a net margin of 53.54% and a return on equity of 18.93%. The firm had revenue of $512.50 million for the quarter, compared to the consensus estimate of $540.32 million. During the same period in the prior year, the firm posted $4.03 EPS. The firm’s revenue was down 15.2% compared to the same quarter last year. On average, analysts forecast that Affiliated Managers Group, Inc. will post 17.76 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Monday, August 7th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, August 4th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.15%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Jefferies Financial Group upped their price target on shares of Affiliated Managers Group from $175.00 to $176.00 in a research report on Monday, July 10th. Barrington Research dropped their price objective on shares of Affiliated Managers Group from $195.00 to $175.00 in a research report on Wednesday, July 26th. Finally, StockNews.com assumed coverage on shares of Affiliated Managers Group in a research report on Thursday, August 17th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $180.08.

View Our Latest Analysis on Affiliated Managers Group

About Affiliated Managers Group

(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.