Raymond James Trust N.A. Has $784,000 Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Raymond James Trust N.A. trimmed its holdings in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 45.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,407 shares of the asset manager's stock after selling 3,705 shares during the period. Raymond James Trust N.A.'s holdings in Affiliated Managers Group were worth $784,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AMG. Ariel Investments LLC increased 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 stake in shares of 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 purchasing an additional 30,059 shares during the period. LSV Asset Management increased its stake in shares of Affiliated Managers Group by 0.8% during the second quarter. LSV Asset Management now owns 240,504 shares of the asset manager's stock worth $37,574,000 after purchasing an additional 2,000 shares during the period. Raymond James & Associates increased its stake 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 purchasing an additional 20,514 shares during the period. Finally, New York State Common Retirement Fund increased its stake in Affiliated Managers Group by 6.7% during the 3rd quarter. New York State Common Retirement Fund now owns 185,147 shares of the asset manager's stock worth $32,919,000 after acquiring an additional 11,565 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Up 0.0 %

Shares of AMG traded up $0.06 during midday trading on Tuesday, hitting $189.25. The company's stock had a trading volume of 140,471 shares, compared to its average volume of 237,969. Affiliated Managers Group, Inc. has a one year low of $131.34 and a one year high of $199.52. The company's fifty day simple moving average is $185.08 and its two-hundred day simple moving average is $171.46. The stock has a market capitalization of $5.72 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 0.68 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $525.20 million during the quarter, compared to the consensus estimate of $521.87 million. During the same quarter in the previous year, the business posted $4.08 EPS. The company's revenue for the quarter was up 1.7% on a year-over-year basis. On average, research analysts predict that Affiliated Managers Group, Inc. will post 21.01 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be issued 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 is Thursday, November 14th. Affiliated Managers Group's dividend payout ratio (DPR) is 0.26%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AMG. StockNews.com lowered Affiliated Managers Group from a "buy" rating to a "hold" rating in a research note on Tuesday, July 30th. 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 note on Monday, November 11th. Bank of America raised their price objective on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 30th. TD Cowen lowered Affiliated Managers Group from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $226.00 to $177.00 in a research note on Tuesday, November 5th. Finally, Barrington Research decreased their price target 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. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Affiliated Managers Group has an average rating of "Hold" and a consensus price target of $196.50.

Affiliated Managers Group 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.