State of New Jersey Common Pension Fund D Has $2.03 Million Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

State of New Jersey Common Pension Fund D reduced its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 2.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 11,437 shares of the asset manager’s stock after selling 301 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Affiliated Managers Group were worth $2,033,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of AMG. Altshuler Shaham Ltd acquired a new position in Affiliated Managers Group during the second quarter valued at $28,000. UMB Bank n.a. grew its stake in Affiliated Managers Group by 481.3% during the 3rd quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 154 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Affiliated Managers Group in the 2nd quarter valued at about $47,000. Goodman Advisory Group LLC purchased a new stake in shares of Affiliated Managers Group in the second quarter worth approximately $50,000. Finally, Covestor Ltd boosted its holdings in shares of Affiliated Managers Group by 21.4% during the third quarter. Covestor Ltd now owns 471 shares of the asset manager’s stock worth $84,000 after purchasing an additional 83 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analysts Set New Price Targets

AMG has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. TD Cowen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $226.00 to $177.00 in a report on Tuesday, November 5th. Bank of America raised their price objective on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Barrington Research lowered their price objective on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Finally, StockNews.com cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $196.50.

Insider Activity at Affiliated Managers Group

In related news, CEO Jay C. Horgen sold 9,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $171.98, for a total value of $1,547,820.00. Following the completion of the transaction, the chief executive officer now owns 377,276 shares in the company, valued at $64,883,926.48. The trade was a 2.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.90% of the stock is currently owned by company insiders.

Affiliated Managers Group Price Performance

Shares of AMG stock opened at $186.42 on Friday. The stock’s fifty day simple moving average is $182.85 and its 200 day simple moving average is $170.18. Affiliated Managers Group, Inc. has a one year low of $131.34 and a one year high of $199.52. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of 12.16, a P/E/G ratio of 0.68 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, November 4th. The asset manager reported $4.82 EPS for the quarter, missing the consensus estimate of $4.84 by ($0.02). The firm had revenue of $525.20 million during the quarter, compared to analyst estimates of $521.87 million. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.08 EPS. On average, research analysts anticipate that Affiliated Managers Group, Inc. will post 21.01 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be given a $0.01 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.04 annualized dividend and a yield of 0.02%. Affiliated Managers Group’s payout ratio is 0.26%.

Affiliated Managers Group Company 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.