Raymond James & Associates grew its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 0.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 156,063 shares of the asset manager’s stock after purchasing an additional 495 shares during the quarter. Raymond James & Associates owned approximately 0.30% of Affiliated Managers Group worth $16,716,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. BlackRock Inc. lifted its position in Affiliated Managers Group by 0.3% during the fourth quarter. BlackRock Inc. now owns 3,445,712 shares of the asset manager’s stock valued at $335,747,000 after buying an additional 9,189 shares during the period. Ceredex Value Advisors LLC raised its position in shares of Affiliated Managers Group by 30.5% in the 4th quarter. Ceredex Value Advisors LLC now owns 858,500 shares of the asset manager’s stock worth $83,652,000 after purchasing an additional 200,450 shares during the last quarter. Kiltearn Partners LLP purchased a new position in shares of Affiliated Managers Group in the 4th quarter worth about $81,521,000. Clarkston Capital Partners LLC raised its position in shares of Affiliated Managers Group by 34.2% in the 1st quarter. Clarkston Capital Partners LLC now owns 749,125 shares of the asset manager’s stock worth $80,239,000 after purchasing an additional 191,000 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Affiliated Managers Group by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 725,824 shares of the asset manager’s stock worth $70,606,000 after purchasing an additional 48,638 shares during the last quarter. 94.71% of the stock is currently owned by institutional investors.
In related news, insider Jay C. Horgen acquired 11,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was bought at an average cost of $93.19 per share, for a total transaction of $1,025,090.00. Following the purchase, the insider now owns 115,527 shares in the company, valued at approximately $10,765,961.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.43% of the company’s stock.
Shares of Affiliated Managers Group stock traded down $1.40 during trading hours on Friday, reaching $88.36. 566,144 shares of the stock traded hands, compared to its average volume of 553,355. The company has a market cap of $4.57 billion, a P/E ratio of 6.09, a P/E/G ratio of 0.64 and a beta of 1.63. Affiliated Managers Group, Inc. has a one year low of $83.10 and a one year high of $163.55.
Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, May 6th. The asset manager reported $3.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.27 by ($0.01). The firm had revenue of $543.10 million for the quarter, compared to the consensus estimate of $541.42 million. Affiliated Managers Group had a negative net margin of 4.77% and a positive return on equity of 17.72%. The company’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.92 earnings per share. On average, equities research analysts forecast that Affiliated Managers Group, Inc. will post 13.74 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were paid a dividend of $0.32 per share. The ex-dividend date was Wednesday, May 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.45%. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 8.83%.
Several equities analysts have recently issued reports on AMG shares. Barrington Research reaffirmed a “buy” rating and issued a $135.00 price target on shares of Affiliated Managers Group in a research report on Tuesday, April 30th. Zacks Investment Research raised Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a research report on Tuesday, April 2nd. Bank of America reissued a “buy” rating and issued a $97.00 target price (down previously from $113.00) on shares of Affiliated Managers Group in a research report on Thursday, June 6th. Deutsche Bank decreased their target price on Affiliated Managers Group from $111.00 to $103.00 and set a “hold” rating for the company in a research report on Tuesday, May 7th. Finally, ValuEngine raised Affiliated Managers Group from a “strong sell” rating to a “sell” rating in a research report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Affiliated Managers Group currently has an average rating of “Hold” and an average target price of $126.73.
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Affiliated Managers Group Company Profile
Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.
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