New York State Common Retirement Fund Acquires 124,871 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

New York State Common Retirement Fund raised its holdings in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 342.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 161,375 shares of the asset manager's stock after purchasing an additional 124,871 shares during the period. New York State Common Retirement Fund owned 0.48% of Affiliated Managers Group worth $24,435,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Quent Capital LLC increased its stake in shares of Affiliated Managers Group by 5.4% in the fourth quarter. Quent Capital LLC now owns 1,354 shares of the asset manager's stock worth $205,000 after purchasing an additional 69 shares in the last quarter. Lindbrook Capital LLC increased its stake in shares of Affiliated Managers Group by 80.0% in the fourth quarter. Lindbrook Capital LLC now owns 162 shares of the asset manager's stock worth $25,000 after purchasing an additional 72 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Affiliated Managers Group by 17.1% in the fourth quarter. Blue Trust Inc. now owns 617 shares of the asset manager's stock worth $93,000 after purchasing an additional 90 shares in the last quarter. Greenleaf Trust grew its stake in Affiliated Managers Group by 6.7% during the fourth quarter. Greenleaf Trust now owns 1,822 shares of the asset manager's stock valued at $276,000 after acquiring an additional 115 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Affiliated Managers Group by 1.7% during the third quarter. PNC Financial Services Group Inc. now owns 7,719 shares of the asset manager's stock valued at $1,006,000 after acquiring an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on AMG. TD Cowen began coverage on shares of Affiliated Managers Group in a research note on Thursday, January 4th. They set an "outperform" rating and a $185.00 price objective for the company. Barrington Research boosted their price objective on shares of Affiliated Managers Group from $175.00 to $190.00 and gave the company an "outperform" rating in a research note on Tuesday, April 9th.

Affiliated Managers Group Stock Performance

Affiliated Managers Group stock traded up $0.62 during mid-day trading on Friday, hitting $160.20. 134,487 shares of the company traded hands, compared to its average volume of 244,682. Affiliated Managers Group, Inc. has a one year low of $120.22 and a one year high of $169.65. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of 9.23, a price-to-earnings-growth ratio of 0.56 and a beta of 1.31. The stock has a fifty day moving average price of $161.31 and a 200-day moving average price of $148.20.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its earnings results on Monday, February 5th. The asset manager reported $6.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.03 by $0.83. Affiliated Managers Group had a net margin of 32.71% and a return on equity of 16.29%. The business had revenue of $502.70 million during the quarter, compared to analyst estimates of $524.98 million. During the same period in the previous year, the business posted $7.28 earnings per share. Affiliated Managers Group's revenue for the quarter was down 6.8% on a year-over-year basis. Sell-side analysts predict that Affiliated Managers Group, Inc. will post 22.03 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, February 14th. This represents a $0.04 annualized dividend and a yield of 0.02%. Affiliated Managers Group's payout ratio is presently 0.23%.

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.