Affiliated Managers Group, Inc. (NYSE:AMG) Short Interest Update

Affiliated Managers Group, Inc. (NYSE:AMG) was the recipient of a significant 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 currently 2.7 days.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AMG. TD Cowen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $226.00 to $177.00 in a research note on Tuesday, November 5th. Barrington Research decreased their price objective on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $196.50.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Ariel Investments LLC boosted its position in Affiliated Managers Group by 8.7% during the second quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager’s stock worth $225,411,000 after purchasing an additional 115,808 shares in the last quarter. Goodman Financial Corp purchased a new stake in Affiliated Managers Group during the third quarter valued at about $14,035,000. Victory Capital Management Inc. raised its holdings in shares of Affiliated Managers Group by 150.1% in the 2nd quarter. Victory Capital Management Inc. now owns 99,407 shares of the asset manager’s stock worth $15,530,000 after purchasing an additional 59,659 shares during the period. Barclays PLC lifted its stake in shares of Affiliated Managers Group by 261.0% in the 3rd quarter. Barclays PLC now owns 76,488 shares of the asset manager’s stock valued at $13,600,000 after purchasing an additional 55,302 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in Affiliated Managers Group by 328.2% in the third quarter. Bank of Montreal Can now owns 70,457 shares of the asset manager’s stock valued at $12,420,000 after buying an additional 54,003 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Stock Performance

Shares of AMG traded down $0.85 during midday trading on Tuesday, hitting $184.56. 142,920 shares of the stock were exchanged, 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 P/E/G ratio of 0.69 and a beta of 1.15. 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 simple moving average of $186.12 and a 200 day simple moving average of $172.49.

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 analysts’ expectations of $521.87 million. Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.08 EPS. As a group, equities research analysts forecast that Affiliated Managers Group will post 20.91 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a 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%.

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.