Affiliated Managers Group, Inc. (AMG) Shares Bought by Raymond James & Associates

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Raymond James & Associates boosted its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 0.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 156,063 shares of the asset manager’s stock after acquiring an additional 495 shares during the period. Raymond James & Associates’ holdings in Affiliated Managers Group were worth $16,716,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Proficio Capital Partners LLC grew its stake in shares of Affiliated Managers Group by 1,295.5% in the 4th quarter. Proficio Capital Partners LLC now owns 307 shares of the asset manager’s stock worth $30,000 after buying an additional 285 shares in the last quarter. JOYN Advisors Inc. grew its stake in shares of Affiliated Managers Group by 649.1% in the 4th quarter. JOYN Advisors Inc. now owns 397 shares of the asset manager’s stock worth $39,000 after buying an additional 344 shares in the last quarter. Osborn Williams & Donohoe LLC purchased a new position in shares of Affiliated Managers Group in the 1st quarter worth $39,000. Legacy Bridge LLC purchased a new position in shares of Affiliated Managers Group in the 4th quarter worth $44,000. Finally, CSat Investment Advisory L.P. grew its stake in shares of Affiliated Managers Group by 173.5% in the 4th quarter. CSat Investment Advisory L.P. now owns 517 shares of the asset manager’s stock worth $50,000 after buying an additional 328 shares in the last quarter. 96.42% of the stock is owned by institutional investors.

In related news, Director Tracy P. Palandjian sold 1,694 shares of Affiliated Managers Group stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $110.64, for a total transaction of $187,424.16. Following the completion of the sale, the director now owns 4,291 shares in the company, valued at approximately $474,756.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jay C. Horgen acquired 11,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were bought at an average price of $93.19 per share, with a total value of $1,025,090.00. Following the acquisition, the insider now directly owns 115,527 shares in the company, valued at $10,765,961.13. The disclosure for this purchase can be found here. Company insiders own 1.43% of the company’s stock.

AMG has been the subject of a number of recent research reports. Barrington Research reissued a “buy” rating and issued a $135.00 price objective on shares of Affiliated Managers Group in a research note on Tuesday, April 30th. Zacks Investment Research raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a research note on Tuesday, April 2nd. Jefferies Financial Group lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and set a $109.87 target price for the company. in a report on Tuesday, January 29th. Deutsche Bank lowered their target price on shares of Affiliated Managers Group from $111.00 to $103.00 and set a “hold” rating for the company in a report on Tuesday, May 7th. Finally, ValuEngine upgraded shares of Affiliated Managers Group from a “strong sell” rating to a “sell” rating in a report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $130.86.

Shares of AMG opened at $89.41 on Thursday. Affiliated Managers Group, Inc. has a 1-year low of $87.00 and a 1-year high of $168.19. The stock has a market cap of $4.61 billion, a P/E ratio of 6.17, a P/E/G ratio of 0.64 and a beta of 1.49.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, May 6th. The asset manager reported $3.26 earnings per share for the quarter, missing analysts’ consensus estimates of $3.27 by ($0.01). Affiliated Managers Group had a negative net margin of 4.77% and a positive return on equity of 17.72%. The company had revenue of $543.10 million for the quarter, compared to the consensus estimate of $541.42 million. During the same quarter in the previous year, the business earned $3.92 EPS. The company’s quarterly revenue was down 11.3% compared to the same quarter last year. On average, equities analysts forecast that Affiliated Managers Group, Inc. will post 13.9 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be issued a dividend of $0.32 per share. The ex-dividend date is Wednesday, May 15th. This represents a $1.28 dividend on an annualized basis and a yield of 1.43%. Affiliated Managers Group’s payout ratio is 8.83%.

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About Affiliated Managers Group

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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Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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