Arizona State Retirement System Sells 101 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Arizona State Retirement System lowered its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMGGet Rating) by 0.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 10,989 shares of the asset manager’s stock after selling 101 shares during the period. Arizona State Retirement System’s holdings in Affiliated Managers Group were worth $1,549,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in AMG. Allspring Global Investments Holdings LLC bought a new position in shares of Affiliated Managers Group during the 4th quarter valued at $8,781,000. Yousif Capital Management LLC bought a new stake in Affiliated Managers Group in the 4th quarter worth $3,790,000. CWM LLC bought a new stake in Affiliated Managers Group in the 4th quarter worth $169,000. Qube Research & Technologies Ltd grew its holdings in Affiliated Managers Group by 413.0% in the 4th quarter. Qube Research & Technologies Ltd now owns 26,020 shares of the asset manager’s stock worth $4,281,000 after acquiring an additional 20,948 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Affiliated Managers Group by 34.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,950 shares of the asset manager’s stock worth $979,000 after acquiring an additional 1,537 shares during the last quarter. Institutional investors own 96.35% of the company’s stock.

Analyst Ratings Changes

AMG has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods cut their price target on shares of Affiliated Managers Group from $167.00 to $150.00 and set an “outperform” rating on the stock in a report on Tuesday, June 28th. Barrington Research cut their price target on shares of Affiliated Managers Group from $190.00 to $160.00 in a report on Monday, May 2nd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Affiliated Managers Group from $152.00 to $133.00 and set a “buy” rating for the company in a research report on Wednesday, July 13th. StockNews.com raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Thursday, July 7th. Finally, Citigroup dropped their target price on shares of Affiliated Managers Group from $241.00 to $222.00 in a research report on Tuesday, May 3rd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $170.20.

Affiliated Managers Group Price Performance

Shares of NYSE AMG opened at $129.51 on Tuesday. Affiliated Managers Group, Inc. has a 1 year low of $109.57 and a 1 year high of $191.62. The stock has a market cap of $5.05 billion, a P/E ratio of 9.84, a price-to-earnings-growth ratio of 0.86 and a beta of 1.31. The firm has a 50-day moving average of $122.98 and a 200 day moving average of $131.87.

Affiliated Managers Group (NYSE:AMGGet Rating) last issued its quarterly earnings results on Monday, August 1st. The asset manager reported $4.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.97 by $0.06. Affiliated Managers Group had a net margin of 22.84% and a return on equity of 22.99%. During the same quarter in the previous year, the company posted $4.03 earnings per share. Research analysts expect that Affiliated Managers Group, Inc. will post 17.98 earnings per share for the current fiscal year.

Affiliated Managers Group Profile

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Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

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Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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