Teachers Retirement System of The State of Kentucky Sells 2,000 Shares of Affiliated Managers Group, Inc. $AMG

Teachers Retirement System of The State of Kentucky reduced its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 18.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,062 shares of the asset manager’s stock after selling 2,000 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Affiliated Managers Group were worth $2,161,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. US Bancorp DE lifted its holdings in Affiliated Managers Group by 1.4% during the 3rd quarter. US Bancorp DE now owns 3,561 shares of the asset manager’s stock valued at $849,000 after purchasing an additional 49 shares during the last quarter. Procyon Advisors LLC increased its holdings in Affiliated Managers Group by 3.1% during the 3rd quarter. Procyon Advisors LLC now owns 1,648 shares of the asset manager’s stock valued at $393,000 after purchasing an additional 50 shares in the last quarter. Millstone Evans Group LLC raised its holdings in shares of Affiliated Managers Group by 41.9% in the third quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock valued at $42,000 after buying an additional 52 shares during the last quarter. Citigroup Inc. lifted its position in shares of Affiliated Managers Group by 0.8% during the third quarter. Citigroup Inc. now owns 9,363 shares of the asset manager’s stock worth $2,232,000 after purchasing an additional 77 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Affiliated Managers Group by 6.5% during the third quarter. GAMMA Investing LLC now owns 1,333 shares of the asset manager’s stock worth $318,000 after acquiring an additional 81 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Performance

NYSE:AMG opened at $299.45 on Friday. The stock has a 50 day simple moving average of $310.03 and a 200 day simple moving average of $269.75. The stock has a market cap of $7.99 billion, a P/E ratio of 12.97, a PEG ratio of 0.48 and a beta of 1.18. Affiliated Managers Group, Inc. has a 1-year low of $139.22 and a 1-year high of $334.78. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64.

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

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 9th. Investors of record on Monday, February 23rd will be given a $0.01 dividend. The ex-dividend date is Monday, February 23rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.17%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft set a $408.00 target price on Affiliated Managers Group and gave the stock a “buy” rating in a research report on Friday, February 13th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, January 21st. Wall Street Zen raised shares of Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. Zacks Research downgraded Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Finally, The Goldman Sachs Group lifted their target price on Affiliated Managers Group from $300.00 to $341.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $350.14.

Affiliated Managers Group Company 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.