Affiliated Managers Group, Inc. $AMG Stock Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 6.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,856 shares of the asset manager’s stock after selling 4,728 shares during the period. Retirement Systems of Alabama owned 0.27% of Affiliated Managers Group worth $25,906,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. N.E.W. Advisory Services LLC acquired a new stake in shares of Affiliated Managers Group during the 2nd quarter worth approximately $25,000. Mather Group LLC. boosted its position in Affiliated Managers Group by 335.3% during the 3rd quarter. Mather Group LLC. now owns 74 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 57 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Affiliated Managers Group during the 2nd quarter worth $48,000. EverSource Wealth Advisors LLC grew its stake in Affiliated Managers Group by 45.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager’s stock worth $50,000 after buying an additional 56 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in Affiliated Managers Group during the 2nd quarter worth $61,000. 95.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AMG shares. Zacks Research cut Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Barrington Research set a $425.00 price target on shares of Affiliated Managers Group in a report on Friday, July 31st. Weiss Ratings raised shares of Affiliated Managers Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. TD Cowen raised their price target on shares of Affiliated Managers Group from $523.00 to $583.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Wall Street Zen cut Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 30th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Affiliated Managers Group currently has an average rating of “Moderate Buy” and a consensus target price of $453.25.

Affiliated Managers Group Trading Up 4.7%

Shares of AMG stock opened at $401.01 on Wednesday. Affiliated Managers Group, Inc. has a 1 year low of $246.11 and a 1 year high of $407.06. The firm has a market capitalization of $10.37 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 0.49 and a beta of 1.05. The stock has a fifty day moving average of $372.60 and a two-hundred day moving average of $334.52. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.24 and a current ratio of 1.88.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, November 9th. The asset manager reported $9.50 EPS for the quarter, beating analysts’ consensus estimates of $8.79 by $0.71. The company had revenue of $595.20 million for the quarter, compared to analyst estimates of $655.08 million. Affiliated Managers Group had a return on equity of 24.44% and a net margin of 34.96%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the company earned $6.10 earnings per share. As a group, research analysts expect that Affiliated Managers Group, Inc. will post 36.87 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 19th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is presently 0.14%.

Key Stories Impacting Affiliated Managers Group

Here are the key news stories impacting Affiliated Managers Group this week:

• Positive Sentiment: AMG reported third-quarter economic EPS of $9.50, up 56% year over year and above the $8.79 consensus. Adjusted EBITDA rose 41% to $354 million. Assets under management reached a record $974 billion, with $20.7 billion of net client cash flows, including record alternative inflows. The company also repurchased about $400 million of shares in the quarter. AMG third-quarter results
• Positive Sentiment: Management’s fourth-quarter outlook points to continued momentum, with adjusted EBITDA guidance of $405 million to $475 million and economic EPS of $11.37 to $13.43. AMG stock analysis
• Positive Sentiment: Deutsche Bank raised its price target to $458 from $426 and maintained a Buy rating. TD Cowen also raised its target, to $583 from $523, and reiterated Buy. Deutsche Bank price target update
• Neutral Sentiment: AMG declared a quarterly dividend of $0.01 per share, a modest payout unlikely to be a major stock catalyst. Dividend announcement
• Negative Sentiment: Third-quarter revenue of $595.2 million fell short of analysts’ roughly $655 million estimate, tempering the earnings beat. AMG revenue results

About Affiliated Managers Group

Affiliated Managers Group, Inc. (NYSE: AMG) is a global asset management company that partners with independent investment firms. Founded in 1993, AMG provides its partner firms with strategic capital, distribution support and business resources while allowing them to retain substantial independence over their investment processes and operations. Through its partner firms, AMG offers a range of investment strategies and services, including alternative investments, equities, fixed income, private markets and wealth management.