Teacher Retirement System of Texas Sells 5,866 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Teacher Retirement System of Texas cut its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 26.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,228 shares of the asset manager's stock after selling 5,866 shares during the quarter. Teacher Retirement System of Texas' holdings in Affiliated Managers Group were worth $2,457,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in AMG. Channing Capital Management LLC grew its position in Affiliated Managers Group by 688.9% during the fourth quarter. Channing Capital Management LLC now owns 474,542 shares of the asset manager's stock valued at $71,855,000 after acquiring an additional 414,389 shares during the period. New York State Common Retirement Fund increased its position in Affiliated Managers Group by 342.1% during the 4th quarter. New York State Common Retirement Fund now owns 161,375 shares of the asset manager's stock worth $24,435,000 after purchasing an additional 124,871 shares in the last quarter. Ariel Investments LLC raised its holdings in Affiliated Managers Group by 11.3% in the third quarter. Ariel Investments LLC now owns 1,188,146 shares of the asset manager's stock valued at $154,863,000 after buying an additional 120,977 shares during the period. Assenagon Asset Management S.A. lifted its position in Affiliated Managers Group by 294.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 148,243 shares of the asset manager's stock valued at $22,447,000 after buying an additional 110,646 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Affiliated Managers Group by 65.7% during the third quarter. Invesco Ltd. now owns 263,664 shares of the asset manager's stock valued at $34,366,000 after buying an additional 104,507 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AMG shares. Barrington Research restated an "outperform" rating and set a $190.00 target price on shares of Affiliated Managers Group in a report on Tuesday, May 7th. TD Cowen reduced their target price on shares of Affiliated Managers Group from $218.00 to $198.00 and set a "buy" rating on the stock in a research report on Tuesday, May 7th.

Affiliated Managers Group Stock Performance

Shares of Affiliated Managers Group stock traded down $1.41 during trading on Thursday, reaching $159.07. The company had a trading volume of 176,772 shares, compared to its average volume of 247,316. The firm's fifty day moving average is $161.50 and its 200-day moving average is $151.35. Affiliated Managers Group, Inc. has a fifty-two week low of $120.22 and a fifty-two week high of $169.65. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 8.83, a price-to-earnings-growth ratio of 0.51 and a beta of 1.31.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its quarterly earnings results on Monday, May 6th. The asset manager reported $5.37 earnings per share for the quarter, beating analysts' consensus estimates of $5.21 by $0.16. The business had revenue of $499.90 million during the quarter, compared to the consensus estimate of $524.53 million. Affiliated Managers Group had a return on equity of 16.66% and a net margin of 33.74%. During the same period in the previous year, the business earned $4.18 EPS. On average, research analysts anticipate that Affiliated Managers Group, Inc. will post 21.76 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Wednesday, May 15th. Affiliated Managers Group's payout ratio is 0.22%.

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.