Retirement Systems of Alabama Decreases Stock Holdings in Affiliated Managers Group, Inc. $AMG

Retirement Systems of Alabama reduced its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 11.7% during the 4th quarter, HoldingsChannel reports. The firm owned 85,514 shares of the asset manager’s stock after selling 11,323 shares during the quarter. Retirement Systems of Alabama’s holdings in Affiliated Managers Group were worth $24,652,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in AMG. Root Financial Partners LLC acquired a new stake in shares of Affiliated Managers Group in the third quarter valued at approximately $33,000. Meeder Asset Management Inc. purchased a new position in Affiliated Managers Group during the third quarter worth approximately $34,000. Hantz Financial Services Inc. boosted its stake in Affiliated Managers Group by 189.8% during the third quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock worth $34,000 after buying an additional 93 shares during the last quarter. Millstone Evans Group LLC boosted its stake in Affiliated Managers Group by 41.9% during the third quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock worth $42,000 after buying an additional 52 shares during the last quarter. Finally, Global Retirement Partners LLC grew its holdings in Affiliated Managers Group by 1,237.5% in the 3rd quarter. Global Retirement Partners LLC now owns 214 shares of the asset manager’s stock valued at $51,000 after buying an additional 198 shares in the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Affiliated Managers Group

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 8,000 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $286.30, for a total transaction of $2,290,400.00. Following the completion of the transaction, the chief operating officer owned 159,465 shares of the company’s stock, valued at $45,654,829.50. This trade represents a 4.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Kavita Padiyar sold 2,200 shares of Affiliated Managers Group stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $278.24, for a total transaction of $612,128.00. Following the sale, the general counsel owned 42,672 shares of the company’s stock, valued at approximately $11,873,057.28. This represents a 4.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.20% of the company’s stock.

Affiliated Managers Group Price Performance

AMG stock opened at $276.36 on Wednesday. Affiliated Managers Group, Inc. has a 52-week low of $139.22 and a 52-week high of $334.78. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.64. The stock has a market cap of $7.37 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 0.45 and a beta of 1.18. The business has a fifty day moving average of $299.46 and a two-hundred day moving average of $276.64.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Thursday, February 12th. The asset manager reported $9.48 EPS for the quarter, beating the consensus estimate of $8.75 by $0.73. The business had revenue of $556.60 million for the quarter, compared to analyst estimates of $578.54 million. Affiliated Managers Group had a return on equity of 18.45% and a net margin of 34.55%.The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.53 EPS. As a group, research analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, February 23rd were given a $0.01 dividend. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is presently 0.17%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AMG shares. Zacks Research downgraded Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. The Goldman Sachs Group boosted their price target on shares of Affiliated Managers Group from $300.00 to $341.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 21st. TD Cowen reaffirmed a “buy” rating on shares of Affiliated Managers Group in a research note on Wednesday, January 14th. Finally, Wall Street Zen raised shares of Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $350.14.

Affiliated Managers Group Profile

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.