California State Teachers Retirement System Acquires 9,872,454 Shares of Affiliated Managers Group, Inc. $AMG

Key Points

• California State Teachers Retirement System increased its Affiliated Managers Group stake by 30,051.3% in the second quarter, acquiring 9.87 million shares and ending with a 38.3% ownership interest valued at approximately $3.35 billion.
• Affiliated Managers Group reported quarterly earnings of $8.29 per share, beating analyst estimates of $7.90, while revenue reached $640.7 million versus expectations of $590.94 million.
• AMG shares opened at $354.35, below the analyst consensus price target of $370.86. Analysts maintain an overall “Buy” rating, and institutional investors collectively own 95.3% of the stock.

California State Teachers Retirement System increased its holdings in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 30,051.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,905,306 shares of the asset manager's stock after acquiring an additional 9,872,454 shares during the period. California State Teachers Retirement System owned about 38.30% of Affiliated Managers Group worth $3,351,956,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Danske Bank A S bought a new position in shares of Affiliated Managers Group in the second quarter valued at approximately $622,000. Fisher Asset Management LLC grew its holdings in Affiliated Managers Group by 19.7% during the fourth quarter. Fisher Asset Management LLC now owns 243,830 shares of the asset manager's stock worth $70,291,000 after buying an additional 40,107 shares in the last quarter. Sei Investments Co. raised its position in Affiliated Managers Group by 5.2% in the 1st quarter. Sei Investments Co. now owns 107,654 shares of the asset manager's stock valued at $29,787,000 after buying an additional 5,357 shares during the last quarter. Deutsche Bank AG purchased a new stake in Affiliated Managers Group in the 2nd quarter valued at $13,432,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Affiliated Managers Group during the 1st quarter valued at $7,164,000. Institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Stock Down 0.4%

Affiliated Managers Group stock opened at $354.35 on Friday. The firm has a 50 day moving average price of $364.00 and a 200-day moving average price of $325.19. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. Affiliated Managers Group, Inc. has a twelve month low of $230.10 and a twelve month high of $392.92. The company has a market capitalization of $9.16 billion, a P/E ratio of 12.27, a P/E/G ratio of 0.48 and a beta of 1.10.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly 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 in the previous year, the firm posted $5.39 EPS. Affiliated Managers Group's revenue was up .0% on a year-over-year basis. As a group, equities analysts predict that Affiliated Managers Group, Inc. will post 36.69 EPS for the current year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 10th were paid a $0.01 dividend. The ex-dividend date was Monday, August 10th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group's payout ratio is presently 0.14%.

Wall Street Analysts Forecast Growth

AMG has been the topic of a number of analyst reports. Barrington Research set a $425.00 price objective on shares of Affiliated Managers Group in a report on Friday, July 31st. Zacks Research upgraded shares of Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 4th. Wall Street Zen lowered shares of Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 30th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Affiliated Managers Group in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $370.86.

Affiliated Managers Group Profile

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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