Affiliated Managers Group, Inc. (AMG) Sees Large Decline in Short Interest

Affiliated Managers Group, Inc. (NYSE:AMG) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 724,074 shares, a decline of 34.0% from the October 13th total of 1,097,000 shares. Currently, 1.3% of the company’s stock are short sold. Based on an average daily trading volume, of 290,922 shares, the days-to-cover ratio is presently 2.5 days.

Several equities research analysts recently commented on AMG shares. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $229.00 price target on shares of Affiliated Managers Group in a research note on Thursday, October 12th. Zacks Investment Research raised Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $213.00 price target for the company in a research note on Monday, October 2nd. Jefferies Group LLC reissued a “buy” rating and issued a $226.00 price target on shares of Affiliated Managers Group in a research note on Thursday, October 12th. Credit Suisse Group boosted their price target on Affiliated Managers Group from $205.00 to $223.00 and gave the company an “outperform” rating in a research note on Friday, August 11th. Finally, BidaskClub lowered Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $207.25.

In related news, Director Dwight D. Churchill sold 2,080 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $184.28, for a total value of $383,302.40. Following the completion of the sale, the director now owns 6,104 shares of the company’s stock, valued at approximately $1,124,845.12. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.40% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Affiliated Managers Group by 5.1% during the second quarter. Vanguard Group Inc. now owns 5,574,012 shares of the asset manager’s stock worth $924,505,000 after buying an additional 270,929 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Affiliated Managers Group by 60.9% during the second quarter. The Manufacturers Life Insurance Company now owns 3,591,358 shares of the asset manager’s stock worth $595,663,000 after buying an additional 1,359,805 shares during the last quarter. State Street Corp lifted its holdings in shares of Affiliated Managers Group by 6.7% during the second quarter. State Street Corp now owns 2,757,345 shares of the asset manager’s stock worth $457,334,000 after buying an additional 174,278 shares during the last quarter. Atlanta Capital Management Co. L L C lifted its holdings in shares of Affiliated Managers Group by 0.6% during the second quarter. Atlanta Capital Management Co. L L C now owns 1,973,612 shares of the asset manager’s stock worth $327,343,000 after buying an additional 10,982 shares during the last quarter. Finally, EdgePoint Investment Group Inc. lifted its holdings in shares of Affiliated Managers Group by 42.2% during the second quarter. EdgePoint Investment Group Inc. now owns 1,932,316 shares of the asset manager’s stock worth $320,494,000 after buying an additional 573,066 shares during the last quarter. Institutional investors own 96.41% of the company’s stock.

Shares of Affiliated Managers Group (NYSE AMG) opened at $184.36 on Friday. Affiliated Managers Group has a 1-year low of $139.15 and a 1-year high of $198.40. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $10,288.77, a P/E ratio of 13.46, a P/E/G ratio of 0.87 and a beta of 1.70.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, October 30th. The asset manager reported $3.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.36 by $0.05. Affiliated Managers Group had a return on equity of 17.63% and a net margin of 23.29%. The firm had revenue of $585.70 million during the quarter, compared to analyst estimates of $586.55 million. During the same period in the previous year, the company earned $3.02 EPS. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. analysts predict that Affiliated Managers Group will post 14.44 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Thursday, November 9th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 8.66%.

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Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.

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