New York State Common Retirement Fund Increases Stock Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

New York State Common Retirement Fund boosted its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 342.1% in the 4th quarter, Holdings Channel reports. The firm owned 161,375 shares of the asset manager’s stock after acquiring an additional 124,871 shares during the quarter. New York State Common Retirement Fund’s holdings in Affiliated Managers Group were worth $24,435,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Morgan Stanley increased its stake 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 acquiring an additional 41,120 shares during the last quarter. Ariel Investments LLC increased its position in shares of Affiliated Managers Group by 11.3% during 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 last quarter. LGT Capital Partners LTD. increased its position in shares of Affiliated Managers Group by 28.3% during 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 last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Affiliated Managers Group by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 347,027 shares of the asset manager’s stock worth $45,231,000 after purchasing an additional 2,824 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Affiliated Managers Group by 65.7% during 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 last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AMG. TD Cowen started coverage on Affiliated Managers Group in a report on Thursday, January 4th. They set an “outperform” rating and a $185.00 target price for the company. Barrington Research boosted their target price on 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 0.3 %

Shares of NYSE:AMG opened at $160.10 on Friday. Affiliated Managers Group, Inc. has a 52-week low of $120.22 and a 52-week high of $169.65. The stock’s fifty day simple moving average is $161.25 and its 200-day simple moving average is $147.99. The company has a market capitalization of $5.20 billion, a P/E ratio of 9.23, a P/E/G ratio of 0.57 and a beta of 1.31.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, February 5th. The asset manager reported $6.86 EPS for the quarter, beating the consensus estimate 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 return on equity of 16.29% and a net margin of 32.71%. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $7.28 earnings per share. On average, sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 22.03 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.04 annualized dividend and a yield of 0.02%. Affiliated Managers Group’s payout ratio is currently 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.