New York State Common Retirement Fund Reduces Stock Holdings in Affiliated Managers Group, Inc. $AMG

New York State Common Retirement Fund lowered its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 124,562 shares of the asset manager’s stock after selling 1,853 shares during the period. New York State Common Retirement Fund’s holdings in Affiliated Managers Group were worth $29,699,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its position in shares of Affiliated Managers Group by 1.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 113,353 shares of the asset manager’s stock worth $19,047,000 after purchasing an additional 1,428 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Affiliated Managers Group by 4.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 141,733 shares of the asset manager’s stock worth $23,815,000 after buying an additional 6,262 shares in the last quarter. Jane Street Group LLC bought a new position in Affiliated Managers Group in the first quarter worth about $1,947,000. Truist Financial Corp lifted its holdings in Affiliated Managers Group by 6.1% in the second quarter. Truist Financial Corp now owns 2,409 shares of the asset manager’s stock worth $474,000 after buying an additional 139 shares during the period. Finally, Robeco Institutional Asset Management B.V. bought a new stake in Affiliated Managers Group during the 2nd quarter valued at approximately $3,832,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. TD Cowen reissued a “buy” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 14th. The Goldman Sachs Group increased their price objective on Affiliated Managers Group from $300.00 to $341.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Barrington Research raised their price objective on Affiliated Managers Group from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Wall Street Zen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Jefferies Financial Group reissued a “buy” rating and set a $282.00 price target on shares of Affiliated Managers Group in a research report on Tuesday, November 4th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $340.50.

Affiliated Managers Group Stock Performance

Shares of AMG stock opened at $313.24 on Friday. The company has a market capitalization of $8.81 billion, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 0.58 and a beta of 1.19. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 1.30. Affiliated Managers Group, Inc. has a one year low of $139.22 and a one year high of $333.99. The company’s 50-day moving average is $292.83 and its 200 day moving average is $253.30.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, November 3rd. The asset manager reported $6.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.88 by $0.22. The business had revenue of $528.00 million during the quarter, compared to analysts’ expectations of $543.39 million. Affiliated Managers Group had a net margin of 26.01% and a return on equity of 16.75%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $4.82 earnings per share. Sell-side analysts expect that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Thursday, November 13th were given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is 0.24%.

About Affiliated Managers Group

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.