Retirement Systems of Alabama Grows Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Retirement Systems of Alabama increased its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 11.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,828 shares of the asset manager's stock after purchasing an additional 11,168 shares during the period. Retirement Systems of Alabama owned approximately 0.31% of Affiliated Managers Group worth $15,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Lindbrook Capital LLC raised its holdings in shares of Affiliated Managers Group by 80.0% during 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 during the last quarter. GAMMA Investing LLC purchased a new position in Affiliated Managers Group in the fourth quarter valued at $62,000. Blue Trust Inc. increased its holdings in Affiliated Managers Group by 17.1% in the fourth quarter. Blue Trust Inc. now owns 617 shares of the asset manager's stock valued at $93,000 after buying an additional 90 shares in the last quarter. Signaturefd LLC increased its holdings in Affiliated Managers Group by 97.1% in the fourth quarter. Signaturefd LLC now owns 873 shares of the asset manager's stock valued at $132,000 after buying an additional 430 shares in the last quarter. Finally, Integrated Investment Consultants LLC purchased a new position in Affiliated Managers Group in the fourth quarter valued at $204,000. Hedge funds and other institutional investors own 95.30% of the company's stock.

Analysts Set New Price Targets

AMG has been the subject of a number of recent analyst reports. TD Cowen initiated coverage on shares of Affiliated Managers Group in a report on Thursday, January 4th. They issued an "outperform" rating and a $185.00 price objective for the company. Barrington Research lifted their price objective on shares of Affiliated Managers Group from $175.00 to $190.00 and gave the company an "outperform" rating in a report on Tuesday, April 9th.

Affiliated Managers Group Stock Up 1.6 %

Shares of NYSE AMG traded up $2.54 during trading on Wednesday, hitting $158.64. The company had a trading volume of 489,891 shares, compared to its average volume of 231,949. The stock has a fifty day simple moving average of $161.36 and a two-hundred day simple moving average of $148.89. Affiliated Managers Group, Inc. has a fifty-two week low of $120.22 and a fifty-two week high of $169.65. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of 9.14, a price-to-earnings-growth ratio of 0.55 and a beta of 1.31.

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 for the quarter, compared to analyst estimates of $524.98 million. During the same quarter last year, the business earned $7.28 earnings per share. The company's revenue for the quarter was down 6.8% compared to the same quarter last year. On average, analysts anticipate that Affiliated Managers Group, Inc. will post 22.03 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were given a $0.01 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. Affiliated Managers Group's dividend payout ratio (DPR) is 0.23%.

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.