Illinois Municipal Retirement Fund Sells 4,167 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Illinois Municipal Retirement Fund cut its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 24.5% during the 4th quarter, HoldingsChannel reports. The firm owned 12,840 shares of the asset manager’s stock after selling 4,167 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Affiliated Managers Group were worth $2,374,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMG. World Investment Advisors LLC acquired a new position in shares of Affiliated Managers Group in the third quarter valued at approximately $2,592,000. Asset Management One Co. Ltd. raised its holdings in shares of Affiliated Managers Group by 94.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 10,594 shares of the asset manager’s stock valued at $1,884,000 after purchasing an additional 5,142 shares during the period. Kovitz Investment Group Partners LLC bought a new stake in Affiliated Managers Group in the third quarter valued at approximately $543,000. Empirical Asset Management LLC raised its stake in Affiliated Managers Group by 10,522.8% in the 4th quarter. Empirical Asset Management LLC now owns 190,360 shares of the asset manager’s stock valued at $347,000 after acquiring an additional 188,568 shares during the period. Finally, Weiss Asset Management LP acquired a new stake in shares of Affiliated Managers Group during the 3rd quarter worth about $2,130,000. 95.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AMG shares. Deutsche Bank Aktiengesellschaft boosted their price target on Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Barrington Research lifted their price objective on shares of Affiliated Managers Group from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. StockNews.com raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Friday, February 7th. The Goldman Sachs Group downgraded Affiliated Managers Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $193.00 to $191.00 in a report on Monday, January 6th. Finally, TD Cowen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their target price for the stock from $226.00 to $177.00 in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $198.40.

Affiliated Managers Group Stock Performance

Shares of AMG stock opened at $167.40 on Friday. The stock has a market capitalization of $4.90 billion, a PE ratio of 11.09, a PEG ratio of 0.57 and a beta of 1.15. The business’s 50 day simple moving average is $180.49 and its 200 day simple moving average is $180.89. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.13 and a quick ratio of 2.13. Affiliated Managers Group, Inc. has a one year low of $147.13 and a one year high of $199.52.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Thursday, February 6th. The asset manager reported $6.53 EPS for the quarter, beating analysts’ consensus estimates of $6.03 by $0.50. Affiliated Managers Group had a net margin of 25.06% and a return on equity of 16.17%. As a group, research analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.01 per share. The ex-dividend date is Tuesday, February 18th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. Affiliated Managers Group’s payout ratio is currently 0.26%.

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.