Affiliated Managers Group, Inc. (NYSE:AMG – Get Free Report) was the recipient of a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 597,800 shares, a growth of 9.2% from the December 31st total of 547,500 shares. Based on an average daily volume of 250,300 shares, the days-to-cover ratio is currently 2.4 days. Currently, 1.8% of the company’s shares are sold short.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on AMG. Barrington Research boosted their target price on shares of Affiliated Managers Group from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, January 16th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Affiliated Managers Group from $150.00 to $148.00 and set a “buy” rating for the company in a research note on Wednesday, October 11th. TD Cowen began coverage on shares of Affiliated Managers Group in a research note on Thursday, January 4th. They set an “outperform” rating and a $185.00 target price for the company. StockNews.com raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Friday, October 20th. Finally, Jefferies Financial Group lowered their price objective on shares of Affiliated Managers Group from $164.00 to $157.00 in a research note on Tuesday, October 10th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Affiliated Managers Group has a consensus rating of “Moderate Buy” and a consensus price target of $168.20.
Affiliated Managers Group Price Performance
Affiliated Managers Group (NYSE:AMG – Get Free Report) last released its quarterly earnings data on Monday, November 6th. The asset manager reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.74 by $0.34. The company had revenue of $525.50 million during the quarter, compared to analyst estimates of $509.44 million. Affiliated Managers Group had a net margin of 59.89% and a return on equity of 17.65%. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.21 earnings per share. Sell-side analysts anticipate that Affiliated Managers Group will post 18.63 EPS for the current fiscal year.
Affiliated Managers Group Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th were issued a $0.01 dividend. The ex-dividend date was Wednesday, November 15th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. Affiliated Managers Group’s dividend payout ratio is presently 0.14%.
Hedge Funds Weigh In On Affiliated Managers Group
Large investors have recently added to or reduced their stakes in the company. Lindbrook Capital LLC raised its holdings in Affiliated Managers Group by 80.0% in the fourth quarter. Lindbrook Capital LLC now owns 162 shares of the asset manager’s stock worth $25,000 after purchasing an additional 72 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of Affiliated Managers Group by 76.3% during the first quarter. Lazard Asset Management LLC now owns 275 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 119 shares in the last quarter. First Capital Advisors Group LLC. acquired a new position in shares of Affiliated Managers Group during the second quarter valued at about $44,000. Quarry LP increased its holdings in shares of Affiliated Managers Group by 1,193.3% during the first quarter. Quarry LP now owns 388 shares of the asset manager’s stock valued at $55,000 after acquiring an additional 358 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Affiliated Managers Group by 54.0% during the second quarter. National Bank of Canada FI now owns 402 shares of the asset manager’s stock valued at $60,000 after acquiring an additional 141 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors.
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.
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