California State Teachers Retirement System Reduces Stock Position in Affiliated Managers Group, Inc. (NYSE:AMG)

California State Teachers Retirement System trimmed its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 8.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,855 shares of the asset manager's stock after selling 2,706 shares during the period. California State Teachers Retirement System owned 0.10% of Affiliated Managers Group worth $5,151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Barclays PLC lifted its holdings in shares of Affiliated Managers Group by 261.0% in the 3rd quarter. Barclays PLC now owns 76,488 shares of the asset manager's stock valued at $13,600,000 after purchasing an additional 55,302 shares during the last quarter. KBC Group NV lifted its holdings in shares of Affiliated Managers Group by 26.9% in the 4th quarter. KBC Group NV now owns 1,244 shares of the asset manager's stock valued at $230,000 after purchasing an additional 264 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Affiliated Managers Group by 0.5% in the 4th quarter. Retirement Systems of Alabama now owns 99,237 shares of the asset manager's stock valued at $18,351,000 after purchasing an additional 535 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Affiliated Managers Group in the 4th quarter valued at about $2,136,000. Finally, Louisiana State Employees Retirement System lifted its holdings in shares of Affiliated Managers Group by 1.2% in the 4th quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the asset manager's stock valued at $1,553,000 after purchasing an additional 100 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on AMG shares. Wall Street Zen raised Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. Cowen reissued a "hold" rating on shares of Affiliated Managers Group in a report on Wednesday, May 14th. Bank of America reduced their price objective on Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Barrington Research reduced their price objective on Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. Finally, TD Cowen reduced their price objective on Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $192.40.

Affiliated Managers Group Stock Performance

NYSE AMG traded up $1.95 on Friday, hitting $182.30. 98,235 shares of the company's stock were exchanged, compared to its average volume of 232,349. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.13 and a quick ratio of 2.13. The firm's 50-day moving average price is $168.49 and its two-hundred day moving average price is $174.92. Affiliated Managers Group, Inc. has a fifty-two week low of $139.22 and a fifty-two week high of $199.52. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 12.07, a P/E/G ratio of 0.57 and a beta of 1.08.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The asset manager reported $5.20 earnings per share for the quarter, topping analysts' consensus estimates of $5.10 by $0.10. The business had revenue of $496.60 million for the quarter, compared to analysts' expectations of $508.00 million. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. During the same quarter in the prior year, the firm posted $5.37 EPS. On average, research analysts expect that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date was Monday, May 19th. Affiliated Managers Group's payout ratio is 0.30%.

Affiliated Managers Group Profile

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.