Franklin Resources Inc. Has $19.36 Million Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Franklin Resources Inc. boosted its holdings in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 18.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 101,913 shares of the asset manager's stock after buying an additional 15,746 shares during the period. Franklin Resources Inc. owned approximately 0.34% of Affiliated Managers Group worth $19,363,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Altshuler Shaham Ltd bought a new position in Affiliated Managers Group during the second quarter worth $28,000. Ashton Thomas Securities LLC acquired a new position in shares of Affiliated Managers Group during the third quarter valued at about $30,000. UMB Bank n.a. raised its position in shares of Affiliated Managers Group by 481.3% during the third quarter. UMB Bank n.a. now owns 186 shares of the asset manager's stock valued at $33,000 after buying an additional 154 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Affiliated Managers Group in the third quarter valued at about $46,000. Finally, Daiwa Securities Group Inc. acquired a new stake in Affiliated Managers Group during the second quarter worth about $47,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on AMG shares. Deutsche Bank Aktiengesellschaft raised their price objective on Affiliated Managers Group from $204.00 to $208.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Barrington Research reduced their target price on Affiliated Managers Group from $210.00 to $200.00 and set an "outperform" rating for the company in a research report on Tuesday, November 5th. Finally, TD Cowen lowered shares of Affiliated Managers Group from a "buy" rating to a "hold" rating and lowered their price target for the company from $226.00 to $177.00 in a report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $196.50.

Affiliated Managers Group Price Performance

Shares of AMG traded up $2.99 during mid-day trading on Friday, reaching $182.53. The company had a trading volume of 792,663 shares, compared to its average volume of 236,615. The company's 50-day moving average is $187.71 and its 200-day moving average is $174.64. The company has a market capitalization of $5.52 billion, a P/E ratio of 11.91, a P/E/G ratio of 0.69 and a beta of 1.15. Affiliated Managers Group, Inc. has a twelve month low of $145.36 and a twelve month high of $199.52.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $525.20 million for the quarter, compared to the consensus estimate of $521.87 million. During the same period in the previous year, the business posted $4.08 earnings per share. The firm's revenue was up 1.7% compared to the same quarter last year. As a group, equities analysts expect that Affiliated Managers Group, Inc. will post 20.91 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.01 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.04 annualized dividend and a yield of 0.02%. Affiliated Managers Group's dividend 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.