Affiliated Managers Group, Inc. (NYSE:AMG) saw a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 2,490,000 shares, a growth of 15.8% from the January 15th total of 2,150,000 shares. Approximately 5.1% of the shares of the company are short sold. Based on an average trading volume of 696,600 shares, the days-to-cover ratio is currently 3.6 days.
Shares of AMG stock opened at $82.90 on Friday. The stock has a 50-day simple moving average of $83.15 and a 200 day simple moving average of $81.91. The stock has a market capitalization of $4.07 billion, a P/E ratio of 202.20, a P/E/G ratio of 0.56 and a beta of 1.69. Affiliated Managers Group has a fifty-two week low of $71.08 and a fifty-two week high of $115.75. The company has a quick ratio of 1.51, a current ratio of 1.60 and a debt-to-equity ratio of 0.51.
Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, February 3rd. The asset manager reported $4.52 EPS for the quarter, topping the consensus estimate of $4.03 by $0.49. Affiliated Managers Group had a net margin of 0.70% and a return on equity of 19.58%. The firm had revenue of $555.50 million for the quarter, compared to analysts’ expectations of $537.57 million. During the same period in the previous year, the business earned $3.53 earnings per share. On average, sell-side analysts anticipate that Affiliated Managers Group will post 14.54 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders 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 dividend yield of 1.54%. Affiliated Managers Group’s dividend payout ratio is currently 9.00%.
Several research analysts have recently issued reports on the stock. Barrington Research reiterated a “buy” rating and issued a $100.00 price objective on shares of Affiliated Managers Group in a report on Tuesday, February 4th. ValuEngine raised Affiliated Managers Group from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Credit Suisse Group boosted their target price on Affiliated Managers Group from $91.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Deutsche Bank cut their target price on Affiliated Managers Group from $92.00 to $90.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $87.17.
In related news, Director Patrick T. Ryan sold 3,411 shares of the stock in a transaction dated Thursday, November 21st. The shares were 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 owns 16,680 shares in the company, valued at approximately $1,407,458.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jide James Zeitlin sold 2,665 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $83.94, for a total transaction of $223,700.10. Following the transaction, the director now directly owns 23,939 shares in the company, valued at approximately $2,009,439.66. The disclosure for this sale can be found here. Insiders own 1.43% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMG. Keebeck Wealth Management LLC acquired a new stake in shares of Affiliated Managers Group during the fourth quarter worth $44,000. Aigen Investment Management LP purchased a new position in Affiliated Managers Group in the 4th quarter worth about $61,000. Tower Research Capital LLC TRC increased its stake in Affiliated Managers Group by 2,244.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,344 shares of the asset manager’s stock worth $195,000 after purchasing an additional 2,244 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Affiliated Managers Group by 14.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,683 shares of the asset manager’s stock worth $228,000 after buying an additional 339 shares during the period. Finally, Integrated Investment Consultants LLC raised its holdings in Affiliated Managers Group by 18.3% during the 3rd quarter. Integrated Investment Consultants LLC now owns 2,839 shares of the asset manager’s stock worth $237,000 after buying an additional 439 shares during the period. Institutional investors and hedge funds own 99.29% of the company’s stock.
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.
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