Affiliated Managers Group, Inc. (NYSE:AMG) saw a significant increase in short interest in January. As of January 31st, there was short interest totalling 2,490,000 shares, an increase of 15.8% from the January 15th total of 2,150,000 shares. Currently, 5.1% of the shares of the company are sold short. Based on an average trading volume of 696,600 shares, the short-interest ratio is currently 3.6 days.
In other news, Director Patrick T. Ryan sold 3,411 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $84.38, for a total value of $287,820.18. Following the completion of the transaction, the director now directly owns 16,680 shares of the company’s stock, valued at $1,407,458.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jide James Zeitlin sold 2,665 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $83.94, for a total value of $223,700.10. Following the completion of the transaction, the director now directly owns 23,939 shares of the company’s stock, valued at $2,009,439.66. The disclosure for this sale can be found here. Corporate insiders own 1.43% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. IFM Investors Pty Ltd lifted its position in shares of Affiliated Managers Group by 47.3% during the third quarter. IFM Investors Pty Ltd now owns 4,425 shares of the asset manager’s stock worth $369,000 after acquiring an additional 1,420 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Affiliated Managers Group during the third quarter worth $673,000. Mackay Shields LLC lifted its position in shares of Affiliated Managers Group by 3.9% during the third quarter. Mackay Shields LLC now owns 7,889 shares of the asset manager’s stock worth $658,000 after acquiring an additional 298 shares in the last quarter. River & Mercantile Asset Management LLP lifted its position in shares of Affiliated Managers Group by 9.6% during the third quarter. River & Mercantile Asset Management LLP now owns 127,705 shares of the asset manager’s stock worth $10,647,000 after acquiring an additional 11,175 shares in the last quarter. Finally, EdgePoint Investment Group Inc. lifted its position in shares of Affiliated Managers Group by 35.1% during the third quarter. EdgePoint Investment Group Inc. now owns 7,685,484 shares of the asset manager’s stock worth $640,585,000 after acquiring an additional 1,995,217 shares in the last quarter. Institutional investors and hedge funds own 99.29% of the company’s stock.
Several equities analysts have recently issued reports on AMG shares. Barrington Research reaffirmed a “buy” rating and issued a $100.00 target price on shares of Affiliated Managers Group in a report on Tuesday, February 4th. Credit Suisse Group upped their price objective on Affiliated Managers Group from $91.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Deutsche Bank dropped their price objective on Affiliated Managers Group from $92.00 to $90.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. Finally, ValuEngine upgraded Affiliated Managers Group from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Affiliated Managers Group presently has a consensus rating of “Hold” and an average target price of $87.17.
Affiliated Managers Group stock opened at $82.53 on Friday. Affiliated Managers Group has a 12 month low of $71.08 and a 12 month high of $115.75. The company has a current ratio of 1.60, a quick ratio of 1.51 and a debt-to-equity ratio of 0.51. The business’s 50 day simple moving average is $83.18 and its 200 day simple moving average is $81.94. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 201.30, a PEG ratio of 0.56 and a beta of 1.69.
Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, February 3rd. The asset manager reported $4.52 EPS for the quarter, beating the consensus estimate of $4.03 by $0.49. Affiliated Managers Group had a return on equity of 19.58% and a net margin of 0.70%. The business had revenue of $555.50 million for the quarter, compared to the consensus estimate of $537.57 million. During the same quarter in the prior year, the business earned $3.53 earnings per share. As a group, equities research analysts forecast that Affiliated Managers Group will post 14.54 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Thursday, February 13th will be paid a $0.32 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $1.28 annualized dividend and a yield of 1.55%. Affiliated Managers Group’s payout ratio is 9.00%.
Affiliated Managers Group Company Profile
Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.
Further Reading: Cost of Goods Sold (COGS)
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