Raymond James Financial Services Advisors Inc. Takes Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Raymond James Financial Services Advisors Inc. bought a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) during the 4th quarter, HoldingsChannel.com reports. The fund bought 1,715 shares of the asset manager’s stock, valued at approximately $260,000.

Several other institutional investors also recently modified their holdings of the business. SG Americas Securities LLC lifted its holdings in Affiliated Managers Group by 72.3% during the fourth quarter. SG Americas Securities LLC now owns 15,256 shares of the asset manager’s stock worth $2,310,000 after acquiring an additional 6,402 shares during the period. Handelsinvest Investeringsforvaltning bought a new stake in shares of Affiliated Managers Group during the 4th quarter worth $302,000. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Affiliated Managers Group by 88.1% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 12,702 shares of the asset manager’s stock worth $1,655,000 after buying an additional 5,951 shares during the last quarter. SkyView Investment Advisors LLC grew its position in Affiliated Managers Group by 4.8% during the third quarter. SkyView Investment Advisors LLC now owns 4,509 shares of the asset manager’s stock valued at $588,000 after buying an additional 208 shares during the period. Finally, Morgan Stanley grew its position in Affiliated Managers Group by 1.7% during the third quarter. Morgan Stanley now owns 2,474,577 shares of the asset manager’s stock valued at $322,537,000 after buying an additional 41,120 shares during the period. 95.30% of the stock is owned by institutional investors.

Affiliated Managers Group Stock Performance

AMG stock opened at $161.42 on Wednesday. The stock has a fifty day moving average of $160.91 and a 200-day moving average of $147.60. Affiliated Managers Group, Inc. has a fifty-two week low of $120.22 and a fifty-two week high of $169.65. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 9.30, a PEG 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 EPS 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 the consensus estimate of $524.98 million. Affiliated Managers Group had a net margin of 32.71% and a return on equity of 16.29%. The company’s revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.28 earnings per share. Equities analysts predict that Affiliated Managers Group, Inc. will post 22.03 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend was Wednesday, February 14th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.23%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. TD Cowen started coverage on shares of Affiliated Managers Group in a research report on Thursday, January 4th. They issued an “outperform” rating and a $185.00 price objective on the stock. Barrington Research raised their price target on shares of Affiliated Managers Group from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 9th.

About Affiliated Managers Group

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.