1,715 Shares in Affiliated Managers Group, Inc. (NYSE:AMG) Acquired by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. acquired a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,715 shares of the asset manager’s stock, valued at approximately $260,000.

Several other large investors have also recently added to or reduced their stakes in AMG. CWM LLC increased its position in Affiliated Managers Group by 7.4% during the third quarter. CWM LLC now owns 2,613 shares of the asset manager’s stock worth $341,000 after acquiring an additional 180 shares during the period. Ronald Blue Trust Inc. increased its holdings in shares of Affiliated Managers Group by 104.3% during the third quarter. Ronald Blue Trust Inc. now owns 527 shares of the asset manager’s stock worth $69,000 after purchasing an additional 269 shares during the period. State of Alaska Department of Revenue raised its position in shares of Affiliated Managers Group by 160.0% in the third quarter. State of Alaska Department of Revenue now owns 19,175 shares of the asset manager’s stock valued at $2,499,000 after buying an additional 11,801 shares in the last quarter. LGT Capital Partners LTD. boosted its stake in shares of Affiliated Managers Group by 12.6% in the third quarter. LGT Capital Partners LTD. now owns 306,660 shares of the asset manager’s stock valued at $39,970,000 after buying an additional 34,405 shares during the period. Finally, Verdence Capital Advisors LLC grew its position in Affiliated Managers Group by 3.6% during the third quarter. Verdence Capital Advisors LLC now owns 17,972 shares of the asset manager’s stock worth $2,343,000 after buying an additional 632 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Performance

Shares of AMG stock opened at $161.42 on Wednesday. Affiliated Managers Group, Inc. has a fifty-two week low of $120.22 and a fifty-two week high of $169.65. The stock’s fifty day moving average price is $160.91 and its two-hundred day moving average price is $147.60. The company has a market cap of $5.24 billion, a PE ratio of 9.30, a P/E/G ratio of 0.55 and a beta of 1.31.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Monday, February 5th. The asset manager reported $6.86 earnings per share for the quarter, beating the consensus estimate of $6.03 by $0.83. The business had revenue of $502.70 million for the quarter, compared to analyst estimates of $524.98 million. Affiliated Managers Group had a return on equity of 16.29% and a net margin of 32.71%. Affiliated Managers Group’s revenue was down 6.8% compared to the same quarter last year. During the same period last year, the firm posted $7.28 earnings per share. On average, equities analysts predict that Affiliated Managers Group, Inc. will post 22.03 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Wednesday, February 14th. Affiliated Managers Group’s dividend payout ratio is 0.23%.

Wall Street Analyst Weigh In

AMG has been the subject of a number of recent analyst reports. Barrington Research upped their target price on Affiliated Managers Group from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Tuesday, April 9th. TD Cowen assumed coverage on shares of Affiliated Managers Group in a research report on Thursday, January 4th. They set an “outperform” rating and a $185.00 price objective for the company.

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.