Texas Permanent School Fund Trims Position in Affiliated Managers Group, Inc. (AMG)

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Texas Permanent School Fund lowered its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 11.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,594 shares of the asset manager’s stock after selling 1,401 shares during the period. Texas Permanent School Fund’s holdings in Affiliated Managers Group were worth $1,032,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Proficio Capital Partners LLC grew its position in Affiliated Managers Group by 1,295.5% during the fourth quarter. Proficio Capital Partners LLC now owns 307 shares of the asset manager’s stock valued at $30,000 after buying an additional 285 shares during the period. Legacy Bridge LLC bought a new position in Affiliated Managers Group during the fourth quarter valued at about $44,000. Tributary Capital Management LLC bought a new position in Affiliated Managers Group during the fourth quarter valued at about $73,000. Flagship Harbor Advisors LLC grew its position in Affiliated Managers Group by 345.6% during the fourth quarter. Flagship Harbor Advisors LLC now owns 1,172 shares of the asset manager’s stock valued at $114,000 after buying an additional 909 shares during the period. Finally, Midas Management Corp grew its position in Affiliated Managers Group by 33.3% during the fourth quarter. Midas Management Corp now owns 1,200 shares of the asset manager’s stock valued at $117,000 after buying an additional 300 shares during the period. Institutional investors own 95.07% of the company’s stock.

Shares of NYSE:AMG opened at $109.35 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.71 and a quick ratio of 1.29. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 7.54, a price-to-earnings-growth ratio of 0.66 and a beta of 1.49. Affiliated Managers Group, Inc. has a twelve month low of $88.46 and a twelve month high of $194.90.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, February 4th. The asset manager reported $3.53 earnings per share for the quarter, topping analysts’ consensus estimates of $3.51 by $0.02. The firm had revenue of $564.40 million during the quarter, compared to analyst estimates of $568.99 million. Affiliated Managers Group had a net margin of 10.24% and a return on equity of 18.11%. The company’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the business earned $4.68 earnings per share. Analysts predict that Affiliated Managers Group, Inc. will post 14.16 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Thursday, February 14th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Wednesday, February 13th. This is a positive change from Affiliated Managers Group’s previous quarterly dividend of $0.30. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 8.83%.

In other Affiliated Managers Group news, Director Tracy P. Palandjian sold 1,694 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $110.64, for a total transaction of $187,424.16. Following the completion of the transaction, the director now owns 4,291 shares in the company, valued at $474,756.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.91% of the stock is owned by company insiders.

AMG has been the subject of several research reports. Zacks Investment Research upgraded shares of Affiliated Managers Group from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Citigroup cut their target price on shares of Affiliated Managers Group from $140.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, December 19th. Bank of America reiterated a “buy” rating and set a $130.00 target price (down previously from $155.00) on shares of Affiliated Managers Group in a research report on Thursday, December 6th. Deutsche Bank lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their target price for the stock from $158.00 to $106.00 in a research report on Thursday, January 10th. Finally, Jefferies Financial Group lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and set a $109.87 target price for the company. in a research report on Tuesday, January 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $132.12.

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Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

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Want to see what other hedge funds are holding AMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Affiliated Managers Group, Inc. (NYSE:AMG).

Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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