Affiliated Managers Group, Inc. (NYSE:AMG) Sees Significant Growth in Short Interest

Affiliated Managers Group, Inc. (NYSE:AMG) saw a large growth in short interest in November. As of November 15th, there was short interest totalling 501,500 shares, a growth of 10.3% from the October 31st total of 454,800 shares. Approximately 1.7% of the company’s shares are short sold. Based on an average trading volume of 185,200 shares, the days-to-cover ratio is presently 2.7 days.

Affiliated Managers Group Price Performance

NYSE AMG traded down $0.85 during trading on Tuesday, hitting $184.56. 142,920 shares of the company’s stock traded hands, compared to its average volume of 236,016. The firm has a market cap of $5.58 billion, a P/E ratio of 12.09, a PEG ratio of 0.69 and a beta of 1.15. Affiliated Managers Group has a 12-month low of $135.22 and a 12-month high of $199.52. The stock has a fifty day moving average of $186.12 and a two-hundred day moving average of $172.49.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 EPS for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The business had revenue of $525.20 million for the quarter, compared to the consensus estimate of $521.87 million. During the same period in the previous year, the company earned $4.08 EPS. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, analysts expect that Affiliated Managers Group will post 20.91 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were given a dividend of $0.01 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.04 annualized dividend and a yield of 0.02%. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.26%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft raised their price objective on Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a research note on Monday, November 11th. TD Cowen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating and decreased their price target for the stock from $226.00 to $177.00 in a report on Tuesday, November 5th. Finally, Barrington Research lowered their target price on 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. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $196.50.

Hedge Funds Weigh In On Affiliated Managers Group

Several large investors have recently added to or reduced their stakes in AMG. Franklin Resources Inc. boosted its stake in Affiliated Managers Group by 18.3% during the third quarter. Franklin Resources Inc. now owns 101,913 shares of the asset manager’s stock valued at $19,363,000 after buying an additional 15,746 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Affiliated Managers Group during the third quarter valued at $46,000. World Investment Advisors LLC purchased a new position in shares of Affiliated Managers Group in the 3rd quarter worth $2,592,000. SkyView Investment Advisors LLC lifted its holdings in shares of Affiliated Managers Group by 2.4% in the 3rd quarter. SkyView Investment Advisors LLC now owns 5,818 shares of the asset manager’s stock valued at $1,034,000 after acquiring an additional 137 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted its position in Affiliated Managers Group by 68.6% in the third quarter. TD Private Client Wealth LLC now owns 826 shares of the asset manager’s stock worth $147,000 after buying an additional 336 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

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.