Raymond James Financial Inc. Acquires New Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Raymond James Financial Inc. purchased a new position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 155,839 shares of the asset manager's stock, valued at approximately $28,818,000. Raymond James Financial Inc. owned 0.52% of Affiliated Managers Group at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AMG. Boston Partners raised its stake in shares of Affiliated Managers Group by 46.1% in the fourth quarter. Boston Partners now owns 1,184,130 shares of the asset manager's stock valued at $218,975,000 after buying an additional 373,696 shares during the period. Norges Bank bought a new stake in Affiliated Managers Group in the 4th quarter valued at about $68,683,000. Empirical Asset Management LLC lifted its holdings in Affiliated Managers Group by 10,522.8% during the fourth quarter. Empirical Asset Management LLC now owns 190,360 shares of the asset manager's stock valued at $347,000 after purchasing an additional 188,568 shares during the last quarter. Fisher Asset Management LLC boosted its position in Affiliated Managers Group by 84.3% during the fourth quarter. Fisher Asset Management LLC now owns 156,210 shares of the asset manager's stock worth $28,886,000 after purchasing an additional 71,458 shares during the period. Finally, Wealthfront Advisers LLC purchased a new position in shares of Affiliated Managers Group in the fourth quarter worth about $13,135,000. Hedge funds and other institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Price Performance

Affiliated Managers Group stock traded up $3.06 during midday trading on Wednesday, hitting $161.54. 36,726 shares of the company's stock were exchanged, compared to its average volume of 234,927. The company has a market cap of $4.65 billion, a P/E ratio of 10.70, a PEG ratio of 0.57 and a beta of 1.09. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.13 and a current ratio of 2.13. The stock has a 50-day moving average price of $162.81 and a two-hundred day moving average price of $177.76. Affiliated Managers Group, Inc. has a 52-week low of $139.22 and a 52-week high of $199.52.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The asset manager reported $6.53 EPS for the quarter, topping the consensus estimate of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. On average, equities research analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend was Tuesday, February 18th. Affiliated Managers Group's dividend payout ratio (DPR) is currently 0.26%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. The Goldman Sachs Group downgraded shares of Affiliated Managers Group from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $193.00 to $191.00 in a report on Monday, January 6th. TD Cowen reduced their price target on Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Bank of America decreased their price objective on Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Barrington Research cut their target price on Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. Finally, StockNews.com upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $192.40.

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.