Raymond James & Associates Sells 69,077 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Raymond James & Associates decreased its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 29.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 165,570 shares of the asset manager’s stock after selling 69,077 shares during the period. Raymond James & Associates owned approximately 0.52% of Affiliated Managers Group worth $29,438,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Altshuler Shaham Ltd bought a new position in Affiliated Managers Group in the second quarter valued at about $28,000. UMB Bank n.a. lifted its holdings 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 acquiring an additional 154 shares during the last quarter. Denali Advisors LLC boosted its stake in shares of Affiliated Managers Group by 429.2% in the 1st quarter. Denali Advisors LLC now owns 254 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 206 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in shares of Affiliated Managers Group during the 2nd quarter valued at approximately $47,000. Finally, Goodman Advisory Group LLC acquired a new position in Affiliated Managers Group during the 2nd quarter worth approximately $50,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Insider Activity at Affiliated Managers Group

In other Affiliated Managers Group news, insider Rizwan M. Jamal sold 8,622 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $172.89, for a total transaction of $1,490,657.58. Following the completion of the sale, the insider now directly owns 128,457 shares in the company, valued at approximately $22,208,930.73. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Rizwan M. Jamal sold 8,622 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $172.89, for a total transaction of $1,490,657.58. Following the sale, the insider now owns 128,457 shares in the company, valued at $22,208,930.73. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Thomas M. Wojcik sold 4,786 shares of Affiliated Managers Group stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $172.71, for a total value of $826,590.06. Following the completion of the sale, the chief operating officer now owns 84,392 shares of the company’s stock, valued at approximately $14,575,342.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,408 shares of company stock worth $3,865,068 over the last quarter. Company insiders own 1.90% of the company’s stock.

Affiliated Managers Group Trading Down 2.2 %

Shares of AMG opened at $188.21 on Thursday. The stock’s 50-day moving average price is $177.27 and its two-hundred day moving average price is $167.06. Affiliated Managers Group, Inc. has a 12 month low of $120.22 and a 12 month high of $196.69. The company has a market capitalization of $6.00 billion, a PE ratio of 10.44, a PEG ratio of 0.58 and a beta of 1.20.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, July 29th. The asset manager reported $4.67 EPS for the quarter, beating the consensus estimate of $4.60 by $0.07. The business had revenue of $500.30 million for the quarter, compared to analysts’ expectations of $518.03 million. Affiliated Managers Group had a return on equity of 16.50% and a net margin of 31.51%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $4.45 earnings per share. Equities research analysts predict that Affiliated Managers Group, Inc. will post 21.98 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a $0.01 dividend. The ex-dividend date was Thursday, August 8th. This represents a $0.04 annualized dividend and a yield of 0.02%. Affiliated Managers Group’s payout ratio is 0.22%.

Analysts Set New Price Targets

AMG has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of Affiliated Managers Group from $202.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Bank of America boosted their price objective on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. StockNews.com downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. TD Cowen boosted their price target on Affiliated Managers Group from $201.00 to $226.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Barrington Research upped their price objective on Affiliated Managers Group from $190.00 to $210.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Affiliated Managers Group has a consensus rating of “Moderate Buy” and a consensus target price of $210.50.

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.