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

Affiliated Managers Group, Inc. (NYSE:AMG) was the target of a significant growth in short interest during the month of 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. Based on an average trading volume of 185,200 shares, the short-interest ratio is currently 2.7 days. Currently, 1.7% of the company’s shares are sold short.

Analysts Set New Price Targets

Several equities research analysts recently commented on AMG shares. TD Cowen cut Affiliated Managers Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $226.00 to $177.00 in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Barrington Research cut their target price on shares of 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 analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $196.50.

Institutional Trading of Affiliated Managers Group

A number of hedge funds have recently bought and sold shares of the business. Diversified Trust Co bought a new stake in shares of Affiliated Managers Group during the 2nd quarter worth $1,293,000. Asset Management One Co. Ltd. increased its stake in shares of Affiliated Managers Group by 94.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 10,594 shares of the asset manager’s stock worth $1,884,000 after purchasing an additional 5,142 shares during the last quarter. Foundry Partners LLC bought a new stake in shares of Affiliated Managers Group in the 2nd quarter worth approximately $574,000. XTX Topco Ltd grew its holdings in Affiliated Managers Group by 178.9% during the second quarter. XTX Topco Ltd now owns 5,269 shares of the asset manager’s stock valued at $823,000 after purchasing an additional 3,380 shares during the period. Finally, Los Angeles Capital Management LLC grew its stake in shares of Affiliated Managers Group by 12.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 58,659 shares of the asset manager’s stock worth $9,164,000 after acquiring an additional 6,616 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Affiliated Managers Group Price Performance

Shares of NYSE:AMG traded down $2.13 during trading on Monday, reaching $185.41. 160,252 shares of the stock were exchanged, compared to its average volume of 236,417. Affiliated Managers Group has a 1-year low of $135.22 and a 1-year high of $199.52. The firm has a market cap of $5.60 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 0.69 and a beta of 1.18. The stock has a fifty day moving average of $185.98 and a two-hundred day moving average of $172.30.

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

Affiliated Managers Group Dividend Announcement

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

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.