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

Affiliated Managers Group, Inc. (NYSE:AMG) saw a significant decrease in short interest in December. As of December 15th, there was short interest totaling 587,572 shares, a decrease of 31.6% from the November 30th total of 858,970 shares. Based on an average daily trading volume, of 394,515 shares, the days-to-cover ratio is currently 1.5 days. Currently, 2.2% of the company’s shares are sold short. Currently, 2.2% of the company’s shares are sold short. Based on an average daily trading volume, of 394,515 shares, the days-to-cover ratio is currently 1.5 days.

Analyst Ratings Changes

AMG has been the subject of a number of research analyst reports. Bank of America increased their target price on Affiliated Managers Group to $335.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Barrington Research boosted their price target on shares of Affiliated Managers Group from $285.00 to $295.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. The Goldman Sachs Group upped their target price on Affiliated Managers Group from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Wall Street Zen upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Sunday, December 21st. Finally, TD Cowen lifted their price target on shares of Affiliated Managers Group to $485.00 and gave the company a “buy” rating in a research report on Monday, December 15th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Affiliated Managers Group has an average rating of “Moderate Buy” and a consensus target price of $328.67.

Hedge Funds Weigh In On Affiliated Managers Group

Several institutional investors have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Affiliated Managers Group by 428.0% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock valued at $26,000 after buying an additional 107 shares in the last quarter. Root Financial Partners LLC bought a new stake in Affiliated Managers Group during the 3rd quarter worth about $33,000. Meeder Asset Management Inc. bought a new stake in Affiliated Managers Group during the 3rd quarter worth about $34,000. Hantz Financial Services Inc. increased its position in Affiliated Managers Group by 189.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 93 shares in the last quarter. Finally, Millstone Evans Group LLC raised its stake in shares of Affiliated Managers Group by 41.9% in the third quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock worth $42,000 after acquiring an additional 52 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Price Performance

Shares of Affiliated Managers Group stock traded down $4.53 during midday trading on Monday, hitting $291.54. 470,748 shares of the company were exchanged, compared to its average volume of 412,132. The firm has a 50 day simple moving average of $263.60 and a 200-day simple moving average of $234.46. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market cap of $8.20 billion, a P/E ratio of 17.36, a PEG ratio of 0.65 and a beta of 1.22. Affiliated Managers Group has a 52 week low of $139.22 and a 52 week high of $299.69.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, November 3rd. The asset manager reported $6.10 EPS for the quarter, beating the consensus estimate of $5.88 by $0.22. The company had revenue of $528.00 million for the quarter, compared to the consensus estimate of $543.39 million. Affiliated Managers Group had a net margin of 26.01% and a return on equity of 16.75%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.82 EPS. Research analysts forecast that Affiliated Managers Group will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Thursday, November 13th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend was Thursday, November 13th. Affiliated Managers Group’s payout ratio is presently 0.24%.

About Affiliated Managers Group

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.