5,046 Affiliated Managers Group, Inc. $AMG Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 18.1% during the third quarter, Holdings Channel reports. The fund owned 22,793 shares of the asset manager’s stock after selling 5,046 shares during the period. Illinois Municipal Retirement Fund’s holdings in Affiliated Managers Group were worth $8,333,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Renasant Bank acquired a new position in Affiliated Managers Group in the third quarter worth $217,000. New York Life Investment Management LLC grew its holdings in shares of Affiliated Managers Group by 13.3% during the third quarter. New York Life Investment Management LLC now owns 3,708 shares of the asset manager’s stock worth $1,356,000 after purchasing an additional 434 shares during the last quarter. Fulcrum Asset Management LLP grew its holdings in shares of Affiliated Managers Group by 455.0% during the third quarter. Fulcrum Asset Management LLP now owns 78,628 shares of the asset manager’s stock worth $29,140,000 after purchasing an additional 64,462 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Affiliated Managers Group during the third quarter worth $228,000. Finally, Ashton Thomas Private Wealth LLC increased its stake in shares of Affiliated Managers Group by 16.0% in the third quarter. Ashton Thomas Private Wealth LLC now owns 1,057 shares of the asset manager’s stock valued at $386,000 after buying an additional 146 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AMG shares. Zacks Research lowered Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Wall Street Zen downgraded shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 30th. Weiss Ratings lowered shares of Affiliated Managers Group from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday. Barrington Research increased their price objective on shares of Affiliated Managers Group from $425.00 to $455.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, TD Cowen raised their price objective on shares of Affiliated Managers Group from $523.00 to $583.00 and gave the company a “buy” rating in a research report on Tuesday. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $460.75.

Affiliated Managers Group Stock Down 1.8%

NYSE:AMG opened at $394.55 on Friday. The stock’s fifty day moving average price is $374.16 and its two-hundred day moving average price is $335.34. Affiliated Managers Group, Inc. has a 52-week low of $246.11 and a 52-week high of $408.07. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.24 and a current ratio of 1.20. The company has a market cap of $9.74 billion, a price-to-earnings ratio of 13.78, a P/E/G ratio of 0.48 and a beta of 1.05.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, November 9th. The asset manager reported $9.50 EPS for the quarter, beating the consensus estimate of $8.79 by $0.71. The company had revenue of $595.20 million during 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 business’s revenue for the quarter was up .0% on a year-over-year basis. During the same period last year, the firm earned $6.10 EPS. On average, analysts anticipate that Affiliated Managers Group, Inc. will post 37.43 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently declared 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 is Thursday, November 19th. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.14%.

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.