Teacher Retirement System of Texas Sells 6,618 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Teacher Retirement System of Texas lessened its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 41.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,201 shares of the asset manager's stock after selling 6,618 shares during the quarter. Teacher Retirement System of Texas' holdings in Affiliated Managers Group were worth $1,546,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its holdings in Affiliated Managers Group by 79.5% in the 4th quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager's stock valued at $26,000 after buying an additional 62 shares during the period. Versant Capital Management Inc increased its position in Affiliated Managers Group by 70.8% during the 1st quarter. Versant Capital Management Inc now owns 181 shares of the asset manager's stock worth $30,000 after purchasing an additional 75 shares in the last quarter. Private Trust Co. NA raised its holdings in Affiliated Managers Group by 38.1% in the first quarter. Private Trust Co. NA now owns 301 shares of the asset manager's stock valued at $51,000 after buying an additional 83 shares during the period. Rossby Financial LCC acquired a new position in Affiliated Managers Group during the first quarter valued at approximately $56,000. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Affiliated Managers Group in the 4th quarter valued at $70,000. Institutional investors and hedge funds own 95.30% of the company's stock.

Affiliated Managers Group Price Performance

AMG traded down $5.90 during midday trading on Tuesday, hitting $200.70. 81,747 shares of the company's stock traded hands, compared to its average volume of 218,700. The company has a market cap of $5.71 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 0.64 and a beta of 1.09. The stock's fifty day simple moving average is $185.30 and its 200-day simple moving average is $175.78. Affiliated Managers Group, Inc. has a one year low of $139.22 and a one year high of $208.05.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The asset manager reported $5.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.10 by $0.10. The firm had revenue of $496.60 million during the quarter, compared to analysts' expectations of $508.00 million. Affiliated Managers Group had a net margin of 21.31% and a return on equity of 15.91%. During the same period in the prior year, the company posted $5.37 earnings per share. 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 disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend was Monday, May 19th. Affiliated Managers Group's dividend payout ratio is 0.30%.

Analyst Ratings Changes

Several equities research analysts have issued reports on AMG shares. Barrington Research dropped their price objective on Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. Wall Street Zen cut shares of 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 report on Thursday, April 3rd. The Goldman Sachs Group upgraded Affiliated Managers Group from a "neutral" rating to a "buy" rating and lifted their price target for the company from $197.00 to $218.00 in a report on Friday, June 27th. Finally, Cowen reiterated a "hold" rating on shares of Affiliated Managers Group in a report on Wednesday, May 14th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $197.80.

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.