Raymond James Trust N.A. cut its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 11.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,004 shares of the asset manager’s stock after selling 372 shares during the quarter. Raymond James Trust N.A.’s holdings in Affiliated Managers Group were worth $322,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Bank of Nova Scotia raised its position in shares of Affiliated Managers Group by 332.7% in the 4th quarter. Bank of Nova Scotia now owns 40,701 shares of the asset manager’s stock worth $3,965,000 after acquiring an additional 31,295 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Affiliated Managers Group by 15.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 344,237 shares of the asset manager’s stock worth $33,541,000 after acquiring an additional 46,000 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Affiliated Managers Group by 38.0% in the 4th quarter. Prudential Financial Inc. now owns 148,218 shares of the asset manager’s stock worth $14,442,000 after acquiring an additional 40,803 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Affiliated Managers Group in the 3rd quarter worth about $4,375,000. Finally, Macquarie Group Ltd. raised its position in shares of Affiliated Managers Group by 0.9% in the 3rd quarter. Macquarie Group Ltd. now owns 123,600 shares of the asset manager’s stock worth $16,899,000 after acquiring an additional 1,061 shares in the last quarter. 98.23% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Tracy P. Palandjian sold 1,694 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $110.64, for a total value of $187,424.16. Following the completion of the sale, the director now directly owns 4,291 shares of the company’s stock, valued at approximately $474,756.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.91% of the company’s stock.
Shares of Affiliated Managers Group stock opened at $113.64 on Friday. Affiliated Managers Group, Inc. has a one year low of $88.46 and a one year high of $174.50. The stock has a market capitalization of $5.82 billion, a P/E ratio of 7.83, a PEG ratio of 0.72 and a beta of 1.49. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.71 and a quick ratio of 0.71.
Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, February 4th. The asset manager reported $3.53 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $0.02. Affiliated Managers Group had a return on equity of 18.11% and a net margin of 10.24%. The business had revenue of $564.40 million during the quarter, compared to analyst estimates of $568.99 million. During the same period in the previous year, the company posted $4.68 EPS. The firm’s revenue was down 6.6% compared to the same quarter last year. Analysts expect that Affiliated Managers Group, Inc. will post 14.22 EPS for the current fiscal year.
Affiliated Managers Group Company Profile
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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