Raymond James & Associates Decreases Stock Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Raymond James & Associates trimmed its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 29.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 165,570 shares of the asset manager's stock after selling 69,077 shares during the quarter. Raymond James & Associates owned 0.52% of Affiliated Managers Group worth $29,438,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Altshuler Shaham Ltd purchased a new stake in shares of Affiliated Managers Group during the second quarter valued at approximately $28,000. UMB Bank n.a. increased 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 acquiring an additional 154 shares during the last quarter. Denali Advisors LLC increased its position in shares of Affiliated Managers Group by 429.2% during the first quarter. Denali Advisors LLC now owns 254 shares of the asset manager's stock valued at $43,000 after acquiring an additional 206 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Affiliated Managers Group during the second quarter valued at approximately $47,000. Finally, Goodman Advisory Group LLC purchased a new stake in shares of Affiliated Managers Group during the second quarter valued at approximately $50,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMG has been the subject of a number of research analyst reports. Barrington Research increased their price target on Affiliated Managers Group from $190.00 to $210.00 and gave the company an "outperform" rating in a research report on Monday, July 29th. StockNews.com lowered Affiliated Managers Group from a "buy" rating to a "hold" rating in a report on Tuesday, July 30th. Bank of America increased their price objective on Affiliated Managers Group from $200.00 to $201.00 and gave the company a "neutral" rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price objective on Affiliated Managers Group from $202.00 to $205.00 and gave the company a "buy" rating in a report on Thursday, August 15th. Finally, TD Cowen increased their price objective on Affiliated Managers Group from $201.00 to $226.00 and gave the company a "buy" rating in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $210.50.

Insider Transactions at Affiliated Managers Group

In other news, CEO Jay C. Horgen sold 9,000 shares of the firm's stock in a transaction on Monday, August 19th. The stock was sold at an average price of $171.98, for a total value of $1,547,820.00. Following the completion of the transaction, the chief executive officer now directly owns 377,276 shares of the company's stock, valued at $64,883,926.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Rizwan M. Jamal sold 8,622 shares of Affiliated Managers Group stock in a transaction on Friday, August 16th. The stock was sold at an average price of $172.89, for a total transaction of $1,490,657.58. Following the completion of the sale, the insider now owns 128,457 shares of the company's stock, valued at approximately $22,208,930.73. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the chief executive officer now directly owns 377,276 shares of the company's stock, valued at $64,883,926.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,408 shares of company stock valued at $3,865,068 over the last three months. Company insiders own 1.90% of the company's stock.

Affiliated Managers Group Stock Performance

NYSE AMG traded up $1.85 on Thursday, hitting $190.07. 200,847 shares of the stock traded hands, compared to its average volume of 241,473. The business's fifty day moving average is $177.63 and its two-hundred day moving average is $167.22. Affiliated Managers Group, Inc. has a 12 month low of $120.22 and a 12 month high of $196.69. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of 10.55, a PEG ratio of 0.58 and a beta of 1.20.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings results on Monday, July 29th. The asset manager reported $4.67 EPS for the quarter, topping analysts' consensus estimates of $4.60 by $0.07. Affiliated Managers Group had a return on equity of 16.50% and a net margin of 31.51%. The firm had revenue of $500.30 million during the quarter, compared to analyst estimates of $518.03 million. During the same period last year, the company earned $4.45 earnings per share. The business's revenue for the quarter was down 2.4% on a year-over-year basis. Analysts expect that Affiliated Managers Group, Inc. will post 21.98 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date was Thursday, August 8th. Affiliated Managers Group's payout ratio is currently 0.22%.

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.