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

New York State Common Retirement Fund increased its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 342.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 161,375 shares of the asset manager’s stock after purchasing an additional 124,871 shares during the quarter. New York State Common Retirement Fund owned approximately 0.48% of Affiliated Managers Group worth $24,435,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AMG. Ariel Investments LLC raised its holdings in shares of Affiliated Managers Group by 11.3% in the 3rd quarter. Ariel Investments LLC now owns 1,188,146 shares of the asset manager’s stock worth $154,863,000 after purchasing an additional 120,977 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Affiliated Managers Group by 294.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 148,243 shares of the asset manager’s stock worth $22,447,000 after purchasing an additional 110,646 shares during the period. Invesco Ltd. raised its holdings in shares of Affiliated Managers Group by 65.7% in the 3rd quarter. Invesco Ltd. now owns 263,664 shares of the asset manager’s stock worth $34,366,000 after purchasing an additional 104,507 shares during the period. LGT Capital Partners LTD. raised its holdings in shares of Affiliated Managers Group by 28.3% in the 4th quarter. LGT Capital Partners LTD. now owns 393,330 shares of the asset manager’s stock worth $59,558,000 after purchasing an additional 86,670 shares during the period. Finally, Morgan Stanley raised its holdings in shares of Affiliated Managers Group by 1.7% in the 3rd quarter. Morgan Stanley now owns 2,474,577 shares of the asset manager’s stock worth $322,537,000 after purchasing an additional 41,120 shares during the period. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Price Performance

Shares of AMG stock opened at $160.10 on Friday. The company’s fifty day simple moving average is $161.25 and its two-hundred day simple moving average is $147.99. Affiliated Managers Group, Inc. has a 1 year low of $120.22 and a 1 year high of $169.65. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 9.23, a PEG ratio of 0.57 and a beta of 1.31.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, February 5th. The asset manager reported $6.86 EPS for the quarter, beating analysts’ consensus estimates of $6.03 by $0.83. The firm had revenue of $502.70 million during the quarter, compared to analyst estimates of $524.98 million. Affiliated Managers Group had a net margin of 32.71% and a return on equity of 16.29%. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the previous year, the business earned $7.28 EPS. Equities research analysts anticipate that Affiliated Managers Group, Inc. will post 22.03 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.02%. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.23%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AMG shares. Barrington Research boosted their target price 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. TD Cowen started coverage on shares of Affiliated Managers Group in a report on Thursday, January 4th. They set an “outperform” rating and a $185.00 target price on the stock.

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.