New York State Teachers Retirement System Has $7.61 Million Position in Affiliated Managers Group, Inc. (NYSE:AMG)

New York State Teachers Retirement System lessened its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 6.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 48,728 shares of the asset manager’s stock after selling 3,173 shares during the period. New York State Teachers Retirement System’s holdings in Affiliated Managers Group were worth $7,613,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of AMG. Lecap Asset Management Ltd. boosted its holdings in Affiliated Managers Group by 44.7% during the second quarter. Lecap Asset Management Ltd. now owns 7,651 shares of the asset manager’s stock worth $1,195,000 after buying an additional 2,364 shares during the last quarter. Summit Global Investments acquired a new position in Affiliated Managers Group during the second quarter valued at approximately $618,000. Nisa Investment Advisors LLC increased its stake in Affiliated Managers Group by 1.9% in the second quarter. Nisa Investment Advisors LLC now owns 8,124 shares of the asset manager’s stock valued at $1,269,000 after purchasing an additional 150 shares in the last quarter. Raymond James & Associates raised its holdings in Affiliated Managers Group by 9.6% in the second quarter. Raymond James & Associates now owns 234,647 shares of the asset manager’s stock worth $36,659,000 after purchasing an additional 20,514 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of Affiliated Managers Group by 107.8% during the second quarter. Blue Trust Inc. now owns 962 shares of the asset manager’s stock worth $161,000 after purchasing an additional 499 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Bank of America upped their price objective on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. TD Cowen raised their price target on Affiliated Managers Group from $201.00 to $226.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. StockNews.com lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their target price on Affiliated Managers Group from $202.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Barrington Research lifted their price target on shares of Affiliated Managers Group from $190.00 to $210.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $199.80.

Affiliated Managers Group Stock Performance

Affiliated Managers Group stock opened at $173.85 on Monday. The stock has a 50-day simple moving average of $165.45 and a 200 day simple moving average of $161.64. The stock has a market capitalization of $5.54 billion, a P/E ratio of 9.65, a PEG ratio of 0.62 and a beta of 1.22. Affiliated Managers Group, Inc. has a 52 week low of $120.22 and a 52 week high of $189.81.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, July 29th. The asset manager reported $4.67 earnings per share for the quarter, topping analysts’ consensus estimates of $4.60 by $0.07. Affiliated Managers Group had a return on equity of 16.50% and a net margin of 31.51%. The business had revenue of $500.30 million for the quarter, compared to analyst estimates of $518.03 million. During the same period in the previous year, the firm earned $4.45 EPS. The firm’s revenue was down 2.4% compared to the same quarter last year. Research analysts forecast that Affiliated Managers Group, Inc. will post 21.82 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date was Thursday, August 8th. Affiliated Managers Group’s dividend payout ratio is presently 0.22%.

Insider Activity at Affiliated Managers Group

In other news, COO Thomas M. Wojcik sold 4,786 shares of Affiliated Managers Group stock in a transaction on Friday, August 16th. The stock was sold at an average price of $172.71, for a total transaction of $826,590.06. Following the completion of the sale, the chief operating officer now owns 84,392 shares of the company’s stock, valued at $14,575,342.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Thomas M. Wojcik sold 4,786 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $172.71, for a total transaction of $826,590.06. Following the completion of the sale, the chief operating officer now directly owns 84,392 shares in the company, valued at approximately $14,575,342.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Rizwan M. Jamal sold 8,622 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $172.89, for a total transaction of $1,490,657.58. Following the completion of the transaction, the insider now directly owns 128,457 shares in the company, valued at $22,208,930.73. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,408 shares of company stock worth $3,865,068. Insiders own 1.90% of the company’s stock.

Affiliated Managers Group Company Profile

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.