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

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

Institutional Trading of Affiliated Managers Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC purchased a new stake in shares of Affiliated Managers Group in the third quarter worth about $30,000. Altshuler Shaham Ltd purchased a new stake in shares of Affiliated Managers Group in the second quarter valued at $28,000. UMB Bank n.a. boosted its stake in shares of Affiliated Managers Group by 481.3% during the 3rd quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock worth $33,000 after purchasing an additional 154 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Affiliated Managers Group in the 3rd quarter worth about $46,000. Finally, Prospera Private Wealth LLC bought a new stake in shares of Affiliated Managers Group during the 3rd quarter worth approximately $47,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Affiliated Managers Group Stock Performance

Shares of NYSE AMG traded down $2.13 during mid-day trading on Monday, hitting $185.41. 160,252 shares of the stock traded hands, compared to its average volume of 236,417. Affiliated Managers Group has a 52 week low of $135.22 and a 52 week high of $199.52. The stock has a fifty day moving average price of $185.98 and a 200-day moving average price of $172.30. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 0.69 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results 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 firm 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 period last year, the business earned $4.08 EPS. As a group, sell-side analysts predict that Affiliated Managers Group will post 20.91 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently disclosed 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. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.26%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AMG. Deutsche Bank Aktiengesellschaft increased their target price on Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a report on Monday, November 11th. TD Cowen downgraded shares of 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. Finally, Barrington Research dropped their price objective on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $196.50.

About Affiliated Managers Group

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.