California State Teachers Retirement System Decreases Stake in Affiliated Managers Group, Inc. $AMG

California State Teachers Retirement System lowered its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 10.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,271 shares of the asset manager's stock after selling 3,581 shares during the period. California State Teachers Retirement System owned approximately 0.11% of Affiliated Managers Group worth $9,905,306 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Danske Bank A S acquired a new position in shares of Affiliated Managers Group during the second quarter valued at $622,000. Fisher Asset Management LLC boosted its position in shares of Affiliated Managers Group by 19.7% during the 4th quarter. Fisher Asset Management LLC now owns 243,830 shares of the asset manager's stock worth $70,291,000 after purchasing an additional 40,107 shares in the last quarter. Sei Investments Co. increased its position in shares of Affiliated Managers Group by 5.2% during the 1st quarter. Sei Investments Co. now owns 107,654 shares of the asset manager's stock valued at $29,787,000 after purchasing an additional 5,357 shares during the last quarter. Deutsche Bank AG purchased a new position in shares of Affiliated Managers Group during the 2nd quarter valued at $13,432,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Affiliated Managers Group in the 1st quarter worth approximately $7,164,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on AMG. Weiss Ratings reissued a "buy (b)" rating on shares of Affiliated Managers Group in a report on Friday, June 26th. Wall Street Zen cut shares of Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 30th. Zacks Research upgraded shares of Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 4th. Finally, Barrington Research set a $425.00 target price on shares of Affiliated Managers Group in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $370.86.

Affiliated Managers Group Trading Down 0.1%

AMG traded down $0.42 during trading on Tuesday, hitting $349.56. The company's stock had a trading volume of 103,684 shares, compared to its average volume of 344,220. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $9.04 billion, a P/E ratio of 12.11, a PEG ratio of 0.48 and a beta of 1.10. Affiliated Managers Group, Inc. has a twelve month low of $230.10 and a twelve month high of $392.92. The stock's fifty day moving average price is $364.07 and its 200-day moving average price is $325.98.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its earnings results on Thursday, July 30th. The asset manager reported $8.29 EPS for the quarter, topping analysts' consensus estimates of $7.90 by $0.39. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The company had revenue of $640.70 million for the quarter, compared to analysts' expectations of $590.94 million. During the same quarter last year, the company earned $5.39 EPS. The firm's revenue was up .0% compared to the same quarter last year. Analysts anticipate that Affiliated Managers Group, Inc. will post 36.69 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 10th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Affiliated Managers Group's payout ratio is currently 0.14%.

About Affiliated Managers Group

Affiliated Managers Group, Inc NYSE: AMG is a global asset management company that partners with a diverse group of independent investment management firms. Through its affiliated managers, the company provides investment strategies for institutional investors, financial intermediaries, and private wealth clients.

AMG's affiliated firms offer a broad range of products and services, including actively managed equity and fixed-income portfolios, alternative investments, multi-asset strategies, private-market investments, and customized wealth management solutions.

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