Public Employees Retirement System of Ohio Sells 1,070 Shares of Affiliated Managers Group, Inc. $AMG

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Affiliated Managers Group, Inc. by 3.6%, selling 1,070 shares and now owns approximately 0.10% of the company, worth $5,610,000.
• Analyst ratings for Affiliated Managers Group have improved, with Zacks Research and Goldman Sachs increasing their ratings to "strong-buy" and "buy", respectively, alongside a target price increase to $218.00.
• COO Thomas M. Wojcik sold 16,000 shares at an average price of $231.03, reducing his ownership by 9.16%, while insider ownership now stands at 4.20%.

Public Employees Retirement System of Ohio reduced its stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 3.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,509 shares of the asset manager's stock after selling 1,070 shares during the period. Public Employees Retirement System of Ohio owned about 0.10% of Affiliated Managers Group worth $5,610,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AMG. Envestnet Asset Management Inc. boosted its position in Affiliated Managers Group by 18.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 53,727 shares of the asset manager's stock valued at $9,028,000 after buying an additional 8,361 shares during the period. Private Trust Co. NA raised its stake in shares of Affiliated Managers Group by 38.1% during the first quarter. Private Trust Co. NA now owns 301 shares of the asset manager's stock valued at $51,000 after acquiring an additional 83 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Affiliated Managers Group by 785.2% during the first quarter. Farther Finance Advisors LLC now owns 1,859 shares of the asset manager's stock worth $315,000 after purchasing an additional 1,649 shares during the period. XTX Topco Ltd grew its stake in shares of Affiliated Managers Group by 189.9% in the first quarter. XTX Topco Ltd now owns 14,695 shares of the asset manager's stock worth $2,469,000 after purchasing an additional 9,626 shares during the last quarter. Finally, Goodman Financial Corp grew its stake in shares of Affiliated Managers Group by 1.6% in the first quarter. Goodman Financial Corp now owns 80,806 shares of the asset manager's stock worth $13,578,000 after purchasing an additional 1,301 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Analyst Ratings Changes

AMG has been the subject of a number of recent analyst reports. Zacks Research raised Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 22nd. Wall Street Zen raised Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Friday. The Goldman Sachs Group raised shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $197.00 to $218.00 in a research report on Friday, June 27th. Barrington Research reaffirmed an "outperform" rating and issued a $240.00 target price on shares of Affiliated Managers Group in a research report on Tuesday, September 23rd. Finally, Bank of America raised shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and lifted their target price for the company from $236.00 to $331.00 in a research note on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $250.40.

Insider Activity at Affiliated Managers Group

In other news, COO Thomas M. Wojcik sold 16,000 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $231.03, for a total transaction of $3,696,480.00. Following the sale, the chief operating officer owned 158,710 shares in the company, valued at $36,666,771.30. This represents a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.20% of the stock is currently owned by insiders.

Affiliated Managers Group Trading Up 0.5%

NYSE AMG opened at $238.83 on Monday. Affiliated Managers Group, Inc. has a 12 month low of $139.22 and a 12 month high of $250.15. The stock's fifty day moving average price is $224.00 and its 200-day moving average price is $193.38. The stock has a market cap of $6.79 billion, a P/E ratio of 17.43, a P/E/G ratio of 0.63 and a beta of 1.19.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.26 by $0.13. The firm had revenue of $493.20 million during the quarter, compared to analyst estimates of $506.46 million. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.Affiliated Managers Group's quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.67 EPS. As a group, analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date was Monday, August 11th. Affiliated Managers Group's dividend payout ratio is currently 0.29%.

Affiliated Managers Group Company 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.

Want to see what other hedge funds are holding AMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Affiliated Managers Group, Inc. (NYSE:AMG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.