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

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

Other institutional investors have also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC bought a new position in Affiliated Managers Group during the 2nd quarter valued at $25,000. Mather Group LLC. increased its position in shares of 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. acquired a new position in shares of Affiliated Managers Group during the 2nd quarter valued at $48,000. EverSource Wealth Advisors LLC raised its stake in shares of Affiliated Managers Group by 45.5% in 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 in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Affiliated Managers Group in the 2nd quarter worth $61,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Key Affiliated Managers Group News

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

Affiliated Managers Group Stock Performance

AMG opened at $401.01 on Wednesday. The firm has a market cap of $10.37 billion, a PE ratio of 14.00, a P/E/G ratio of 0.49 and a beta of 1.05. The company has a quick ratio of 1.24, a current ratio of 1.88 and a debt-to-equity ratio of 0.86. The business has a fifty day simple moving average of $372.60 and a 200-day simple moving average of $334.52. Affiliated Managers Group, Inc. has a fifty-two week low of $246.11 and a fifty-two week high of $407.06.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, November 9th. The asset manager reported $9.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.79 by $0.71. The business had revenue of $595.20 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the firm posted $6.10 EPS. As a group, equities analysts predict that Affiliated Managers Group, Inc. will post 36.87 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Affiliated Managers Group Company Profile

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.