Retirement Systems of Alabama Trims Stock Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Retirement Systems of Alabama cut its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 3.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 101,814 shares of the asset manager’s stock after selling 3,125 shares during the period. Retirement Systems of Alabama’s holdings in Affiliated Managers Group were worth $15,906,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AMG. Lindbrook Capital LLC boosted its stake in Affiliated Managers Group by 80.0% during the 4th quarter. Lindbrook Capital LLC now owns 162 shares of the asset manager’s stock worth $25,000 after purchasing an additional 72 shares during the period. Denali Advisors LLC boosted its stake in shares of Affiliated Managers Group by 429.2% during the first quarter. Denali Advisors LLC now owns 254 shares of the asset manager’s stock worth $43,000 after buying an additional 206 shares during the period. GAMMA Investing LLC purchased a new position in shares of Affiliated Managers Group during the fourth quarter worth about $62,000. Quadrant Capital Group LLC increased its position in Affiliated Managers Group by 45.6% in the 4th quarter. Quadrant Capital Group LLC now owns 591 shares of the asset manager’s stock valued at $89,000 after acquiring an additional 185 shares during the period. Finally, Signaturefd LLC raised its stake in Affiliated Managers Group by 97.1% during the 4th quarter. Signaturefd LLC now owns 873 shares of the asset manager’s stock valued at $132,000 after acquiring an additional 430 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Performance

Affiliated Managers Group stock opened at $173.85 on Friday. The company has a market cap of $5.54 billion, a P/E ratio of 9.65, a price-to-earnings-growth ratio of 0.62 and a beta of 1.22. Affiliated Managers Group, Inc. has a one year low of $120.22 and a one year high of $189.81. The business has a fifty day moving average of $165.45 and a two-hundred day moving average of $161.59.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, July 29th. The asset manager reported $4.67 EPS for the quarter, beating the consensus estimate of $4.60 by $0.07. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. The firm had revenue of $500.30 million during the quarter, compared to analysts’ expectations of $518.03 million. During the same quarter last year, the business earned $4.45 earnings per share. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. Sell-side analysts predict that Affiliated Managers Group, Inc. will post 21.82 EPS for the current year.

Affiliated Managers Group Dividend Announcement

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

Analyst Ratings Changes

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

Insiders Place Their Bets

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

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.