Arizona State Retirement System Sells 528 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Arizona State Retirement System trimmed its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 5.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,647 shares of the asset manager’s stock after selling 528 shares during the quarter. Arizona State Retirement System’s holdings in Affiliated Managers Group were worth $1,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. World Investment Advisors LLC bought a new position in shares of Affiliated Managers Group during the 3rd quarter valued at $2,592,000. Kovitz Investment Group Partners LLC bought a new position in shares of Affiliated Managers Group during the 3rd quarter valued at $543,000. Empirical Asset Management LLC lifted its holdings in shares of Affiliated Managers Group by 10,522.8% during the 4th quarter. Empirical Asset Management LLC now owns 190,360 shares of the asset manager’s stock valued at $347,000 after buying an additional 188,568 shares during the period. Weiss Asset Management LP bought a new position in shares of Affiliated Managers Group during the 3rd quarter valued at $2,130,000. Finally, Cerity Partners LLC lifted its holdings in shares of Affiliated Managers Group by 37.1% during the 3rd quarter. Cerity Partners LLC now owns 10,233 shares of the asset manager’s stock valued at $1,820,000 after buying an additional 2,767 shares during the period. 95.30% of the stock is owned by institutional investors.

Affiliated Managers Group Price Performance

Shares of Affiliated Managers Group stock opened at $161.84 on Thursday. Affiliated Managers Group, Inc. has a one year low of $147.13 and a one year high of $199.52. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.13 and a current ratio of 2.13. The stock has a market cap of $4.73 billion, a P/E ratio of 10.72, a P/E/G ratio of 0.57 and a beta of 1.18. The stock’s fifty day moving average is $176.73 and its 200 day moving average is $180.59.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Thursday, February 6th. The asset manager reported $6.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. Sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were paid a $0.01 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. Affiliated Managers Group’s payout ratio is presently 0.26%.

Wall Street Analyst Weigh In

AMG has been the topic of several research analyst reports. StockNews.com raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Barrington Research raised their target price on Affiliated Managers Group from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, The Goldman Sachs Group cut Affiliated Managers Group from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $193.00 to $191.00 in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $198.40.

About Affiliated Managers Group

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.