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

Affiliated Managers Group, Inc. (NYSE:AMG) was the target of a large increase in short interest in 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 trading volume, of 185,200 shares, the days-to-cover ratio is currently 2.7 days. Currently, 1.7% of the shares of the stock are sold short.

Hedge Funds Weigh In On Affiliated Managers Group

Large investors have recently bought and sold shares of the company. Ariel Investments LLC boosted its holdings in shares of 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 valued at $225,411,000 after buying an additional 115,808 shares during the last quarter. Goodman Financial Corp bought a new position in shares of Affiliated Managers Group in the 3rd quarter valued at about $14,035,000. Victory Capital Management Inc. increased its stake in shares of Affiliated Managers Group by 150.1% during the 2nd quarter. Victory Capital Management Inc. now owns 99,407 shares of the asset manager’s stock worth $15,530,000 after purchasing an additional 59,659 shares during the last quarter. Barclays PLC raised its holdings in shares of Affiliated Managers Group by 261.0% in the 3rd quarter. Barclays PLC now owns 76,488 shares of the asset manager’s stock valued at $13,600,000 after purchasing an additional 55,302 shares during the period. Finally, Bank of Montreal Can lifted its stake in Affiliated Managers Group by 328.2% in the 3rd quarter. Bank of Montreal Can now owns 70,457 shares of the asset manager’s stock valued at $12,420,000 after purchasing an additional 54,003 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Price Performance

Shares of NYSE AMG traded up $1.62 during midday trading on Wednesday, reaching $186.23. 52,050 shares of the stock were exchanged, compared to its average volume of 235,201. Affiliated Managers Group has a 12 month low of $135.22 and a 12 month high of $199.52. The business has a 50-day simple moving average of $186.25 and a two-hundred day simple moving average of $172.67. The company has a market capitalization 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 (NYSE:AMG) last announced its earnings results on Monday, November 4th. The asset manager reported $4.82 EPS for the quarter, missing the consensus estimate of $4.84 by ($0.02). The company had revenue of $525.20 million for the quarter, compared to analyst estimates of $521.87 million. Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the business posted $4.08 earnings per share. Equities research analysts expect that Affiliated Managers Group will post 20.91 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AMG shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. TD Cowen lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and lowered their price target for the company from $226.00 to $177.00 in a report on Tuesday, November 5th. Finally, Barrington Research reduced their price objective on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $196.50.

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.