Retirement Systems of Alabama Sells 3,112 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Retirement Systems of Alabama lowered its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 3.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 98,702 shares of the asset manager’s stock after selling 3,112 shares during the quarter. Retirement Systems of Alabama’s holdings in Affiliated Managers Group were worth $17,549,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Ensign Peak Advisors Inc raised its stake in Affiliated Managers Group by 0.6% in the second quarter. Ensign Peak Advisors Inc now owns 9,902 shares of the asset manager’s stock worth $1,547,000 after buying an additional 60 shares in the last quarter. Covestor Ltd raised its position in shares of Affiliated Managers Group by 21.4% in the 3rd quarter. Covestor Ltd now owns 471 shares of the asset manager’s stock worth $84,000 after acquiring an additional 83 shares in the last quarter. OneDigital Investment Advisors LLC lifted its stake in shares of Affiliated Managers Group by 1.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,712 shares of the asset manager’s stock valued at $838,000 after purchasing an additional 90 shares during the period. Kendall Capital Management boosted its position in shares of Affiliated Managers Group by 2.5% during the second quarter. Kendall Capital Management now owns 4,135 shares of the asset manager’s stock valued at $646,000 after purchasing an additional 100 shares in the last quarter. Finally, Foundry Partners LLC grew its stake in Affiliated Managers Group by 3.0% in the third quarter. Foundry Partners LLC now owns 3,781 shares of the asset manager’s stock worth $672,000 after purchasing an additional 110 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AMG shares. Barrington Research decreased their price target on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, TD Cowen cut Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their price target for the stock from $226.00 to $177.00 in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Affiliated Managers Group presently has an average rating of “Hold” and an average target price of $196.50.

Affiliated Managers Group Trading Down 1.2 %

AMG opened at $186.59 on Friday. The company’s 50 day moving average is $187.62 and its 200 day moving average is $174.10. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 0.69 and a beta of 1.15. Affiliated Managers Group, Inc. has a 12-month low of $145.36 and a 12-month high of $199.52.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, November 4th. The asset manager reported $4.82 EPS for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The company had revenue of $525.20 million during the quarter, compared to the consensus estimate of $521.87 million. During the same period in the prior year, the business posted $4.08 earnings per share. Affiliated Managers Group’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, analysts predict that Affiliated Managers Group, Inc. will post 20.91 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.26%.

Affiliated Managers Group 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.