Short Interest in Affiliated Managers Group, Inc. (NYSE:AMG) Expands By 10.3%

Affiliated Managers Group, Inc. (NYSE:AMG) was the target 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. Based on an average daily volume of 185,200 shares, the short-interest ratio is presently 2.7 days. Approximately 1.7% of the company’s shares are sold short.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price objective 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. Barrington Research cut their target price 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, TD Cowen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their price objective for the stock from $226.00 to $177.00 in a report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $196.50.

Affiliated Managers Group Stock Up 0.9 %

Shares of AMG traded up $1.62 during mid-day trading on Wednesday, hitting $186.23. 52,050 shares of the company’s stock were exchanged, compared to its average volume of 235,201. The stock has a market cap of $5.63 billion, a price-to-earnings ratio of 12.05, a P/E/G ratio of 0.68 and a beta of 1.15. Affiliated Managers Group has a twelve month low of $135.22 and a twelve month high of $199.52. The firm has a fifty day moving average of $186.25 and a two-hundred day moving average of $172.67.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 16.76% and a net margin of 27.02%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $4.08 EPS. On average, equities analysts predict that Affiliated Managers Group will post 20.91 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

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

Hedge Funds Weigh In On Affiliated Managers Group

A number of institutional investors and hedge funds have recently bought and sold shares of AMG. Ariel Investments LLC grew its position in Affiliated Managers Group by 8.7% in the 2nd 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 during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Affiliated Managers Group by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 826,123 shares of the asset manager’s stock valued at $129,065,000 after purchasing an additional 30,059 shares in the last quarter. LSV Asset Management boosted its stake in Affiliated Managers Group by 0.8% during the second quarter. LSV Asset Management now owns 240,504 shares of the asset manager’s stock worth $37,574,000 after buying an additional 2,000 shares in the last quarter. Raymond James & Associates raised its stake in shares of Affiliated Managers Group by 9.6% in the 2nd quarter. Raymond James & Associates now owns 234,647 shares of the asset manager’s stock valued at $36,659,000 after buying an additional 20,514 shares in the last quarter. Finally, New York State Common Retirement Fund increased its stake in Affiliated Managers Group by 6.7% in the third quarter. New York State Common Retirement Fund now owns 185,147 shares of the asset manager’s stock valued at $32,919,000 after acquiring an additional 11,565 shares during the period. Institutional investors own 95.30% of the company’s stock.

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.