Raymond James Trust N.A. Reduces Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Raymond James Trust N.A. reduced its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 45.7% in the third quarter, according to the company in its most recent disclosure with the Securities and 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.

Several other institutional investors have also added to or reduced their stakes in the business. Altshuler Shaham Ltd purchased a new position in shares of Affiliated Managers Group during the 2nd quarter valued at about $28,000. Ashton Thomas Securities LLC bought a new stake in Affiliated Managers Group during the 3rd quarter worth approximately $30,000. UMB Bank n.a. boosted its position in shares of Affiliated Managers Group by 481.3% in the third quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock worth $33,000 after purchasing an additional 154 shares during the period. Daiwa Securities Group Inc. bought a new position in shares of Affiliated Managers Group in the second quarter worth approximately $47,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Affiliated Managers Group in the third quarter worth $47,000. 95.30% of the stock is currently owned by institutional investors.

Affiliated Managers Group Trading Up 0.9 %

Shares of Affiliated Managers Group stock opened at $189.24 on Tuesday. The firm has a market cap of $5.72 billion, a PE ratio of 12.34, a PEG ratio of 0.68 and a beta of 1.18. The stock has a 50 day moving average of $185.08 and a 200 day moving average of $171.46. Affiliated Managers Group, Inc. has a 12 month low of $131.34 and a 12 month high of $199.52.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share for the quarter, missing the consensus estimate of $4.84 by ($0.02). Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. 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 prior year, the firm posted $4.08 EPS. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, equities research analysts forecast that Affiliated Managers Group, Inc. will post 21.01 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend is Thursday, November 14th. Affiliated Managers Group’s payout ratio is 0.26%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Barrington Research lowered their target price on shares of 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. Deutsche Bank Aktiengesellschaft boosted their price objective on Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a research report on Monday, November 11th. TD Cowen cut Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their target price for the stock from $226.00 to $177.00 in a research report on Tuesday, November 5th. Bank of America upped their price target 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. Finally, StockNews.com cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $196.50.

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.