Principal Financial Group Inc. Has $12.29 Million Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Principal Financial Group Inc. trimmed its holdings in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 34.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,143 shares of the asset manager's stock after selling 36,973 shares during the quarter. Principal Financial Group Inc. owned 0.23% of Affiliated Managers Group worth $12,294,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Ariel Investments LLC grew its stake in shares of Affiliated Managers Group by 8.7% during the second quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager's stock worth $225,411,000 after purchasing an additional 115,808 shares during the period. Dimensional Fund Advisors LP increased its position in Affiliated Managers Group by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 826,123 shares of the asset manager's stock worth $129,065,000 after acquiring an additional 30,059 shares during the period. LSV Asset Management increased its stake in Affiliated Managers Group by 0.8% in the second quarter. LSV Asset Management now owns 240,504 shares of the asset manager's stock valued at $37,574,000 after acquiring an additional 2,000 shares during the last quarter. Raymond James & Associates raised its position in shares of Affiliated Managers Group by 9.6% during the second quarter. Raymond James & Associates now owns 234,647 shares of the asset manager's stock worth $36,659,000 after acquiring an additional 20,514 shares during the last quarter. Finally, New York State Common Retirement Fund grew its stake in Affiliated Managers Group by 6.7% during the third quarter. New York State Common Retirement Fund now owns 185,147 shares of the asset manager's stock worth $32,919,000 after purchasing an additional 11,565 shares during the period. Institutional investors and hedge funds own 95.30% of the company's stock.

Affiliated Managers Group Stock Down 0.4 %

AMG stock traded down $0.78 during midday trading on Friday, hitting $186.42. The company's stock had a trading volume of 177,939 shares, compared to its average volume of 208,404. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 0.68 and a beta of 1.18. The company has a 50 day moving average of $182.85 and a two-hundred day moving average of $170.18. Affiliated Managers Group, Inc. has a 12 month low of $131.34 and a 12 month high of $199.52.

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

Affiliated Managers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors 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%.

Insider Buying and Selling at Affiliated Managers Group

In other news, CEO Jay C. Horgen sold 9,000 shares of Affiliated Managers Group stock in a transaction 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 transaction, the chief executive officer now directly owns 377,276 shares of the company's stock, valued at $64,883,926.48. The trade was a 2.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AMG has been the topic of several recent analyst reports. Barrington Research dropped their price objective on Affiliated Managers Group from $210.00 to $200.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 5th. StockNews.com cut shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a research note on Tuesday, July 30th. TD Cowen lowered Affiliated Managers Group from a "buy" rating to a "hold" rating and cut 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 target on Affiliated Managers Group from $200.00 to $201.00 and gave the company a "neutral" rating in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Affiliated Managers Group currently has an average rating of "Hold" and an average target price of $196.50.

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.