New York State Teachers Retirement System Lowers Stock Position in Affiliated Managers Group, Inc. (NYSE:AMG)

New York State Teachers Retirement System decreased its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 10.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,098 shares of the asset manager's stock after selling 4,100 shares during the quarter. New York State Teachers Retirement System owned about 0.13% of Affiliated Managers Group worth $6,234,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Affiliated Managers Group by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 3,211,846 shares of the asset manager's stock valued at $593,935,000 after buying an additional 31,343 shares during the last quarter. Boston Partners raised its stake in shares of Affiliated Managers Group by 46.1% in the fourth quarter. Boston Partners now owns 1,184,130 shares of the asset manager's stock worth $218,975,000 after purchasing an additional 373,696 shares during the last quarter. Channing Capital Management LLC raised its stake in shares of Affiliated Managers Group by 5.5% in the fourth quarter. Channing Capital Management LLC now owns 514,580 shares of the asset manager's stock worth $95,156,000 after purchasing an additional 26,654 shares during the last quarter. LSV Asset Management raised its stake in shares of Affiliated Managers Group by 79.1% in the fourth quarter. LSV Asset Management now owns 423,994 shares of the asset manager's stock worth $78,405,000 after purchasing an additional 187,290 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Affiliated Managers Group in the fourth quarter worth $68,683,000. Hedge funds and other institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Stock Up 0.5%

Shares of Affiliated Managers Group stock traded up $0.95 during trading hours on Friday, reaching $201.45. 401,710 shares of the stock traded hands, compared to its average volume of 221,291. The company has a 50 day moving average price of $181.64 and a 200 day moving average price of $175.21. The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of 15.31, a P/E/G ratio of 0.68 and a beta of 1.09. Affiliated Managers Group, Inc. has a one year low of $139.22 and a one year high of $202.67.

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 (EPS) for the quarter, beating analysts' consensus estimates of $5.10 by $0.10. The business had revenue of $496.60 million during the quarter, compared to the consensus estimate of $508.00 million. Affiliated Managers Group had a return on equity of 15.91% and a net margin of 21.31%. During the same period in the previous year, the company posted $5.37 EPS. Sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Barrington Research decreased their price target 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. The Goldman Sachs Group upgraded Affiliated Managers Group from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $197.00 to $218.00 in a research note on Friday, June 27th. Wall Street Zen cut Affiliated Managers Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Bank of America decreased their price target 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. Finally, TD Cowen decreased their price target 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $197.80.

About Affiliated Managers Group

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.