Raymond James Trust N.A. grew its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 29.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,870 shares of the asset manager’s stock after acquiring an additional 420 shares during the period. Raymond James Trust N.A.’s holdings in Affiliated Managers Group were worth $310,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. OppenheimerFunds Inc. grew its position in shares of Affiliated Managers Group by 0.4% during the 1st quarter. OppenheimerFunds Inc. now owns 1,935 shares of the asset manager’s stock valued at $317,000 after acquiring an additional 7 shares during the period. Stephens Inc. AR grew its position in shares of Affiliated Managers Group by 0.4% during the 2nd quarter. Stephens Inc. AR now owns 2,247 shares of the asset manager’s stock valued at $373,000 after acquiring an additional 9 shares during the period. Contravisory Investment Management Inc. grew its position in shares of Affiliated Managers Group by 0.7% during the 2nd quarter. Contravisory Investment Management Inc. now owns 1,621 shares of the asset manager’s stock valued at $269,000 after acquiring an additional 11 shares during the period. Somerset Trust Co grew its position in shares of Affiliated Managers Group by 0.4% during the 2nd quarter. Somerset Trust Co now owns 3,779 shares of the asset manager’s stock valued at $627,000 after acquiring an additional 16 shares during the period. Finally, Bronfman E.L. Rothschild L.P. grew its position in shares of Affiliated Managers Group by 2.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 755 shares of the asset manager’s stock valued at $125,000 after acquiring an additional 16 shares during the period. 96.16% of the stock is owned by hedge funds and other institutional investors.

AMG has been the subject of a number of research reports. ValuEngine downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Citigroup Inc. downgraded shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $180.00 price objective for the company. in a report on Monday, June 5th. BidaskClub raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Zacks Investment Research raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $186.00 price objective for the company in a report on Tuesday, July 4th. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $207.00 price objective on shares of Affiliated Managers Group in a report on Sunday, July 9th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $195.50.

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Affiliated Managers Group, Inc. (NYSE:AMG) opened at 182.61 on Tuesday. Affiliated Managers Group, Inc. has a 12-month low of $130.48 and a 12-month high of $187.08. The company has a 50-day moving average of $177.23 and a 200 day moving average of $166.83. The company has a market capitalization of $10.22 billion, a P/E ratio of 20.23 and a beta of 1.66.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, July 31st. The asset manager reported $3.33 EPS for the quarter, beating the Zacks’ consensus estimate of $3.24 by $0.09. Affiliated Managers Group had a net margin of 22.99% and a return on equity of 17.45%. The business had revenue of $570.90 million during the quarter, compared to analysts’ expectations of $573.73 million. During the same period in the prior year, the company earned $3.07 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. Equities research analysts forecast that Affiliated Managers Group, Inc. will post $14.55 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, August 8th. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. Affiliated Managers Group’s dividend payout ratio is currently 8.87%.

Affiliated Managers Group Profile

Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.

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

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