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

Affiliated Managers Group, Inc. (NYSE:AMG) was the target of a large drop in short interest in September. As of September 30th, there was short interest totalling 467,400 shares, a drop of 36.3% from the September 15th total of 733,500 shares. Based on an average daily volume of 210,200 shares, the days-to-cover ratio is presently 2.2 days. Currently, 1.6% of the shares of the stock are short sold.

Insider Activity

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 4,786 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $172.71, for a total transaction of $826,590.06. Following the completion of the transaction, the chief operating officer now directly owns 84,392 shares in the company, valued at approximately $14,575,342.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Affiliated Managers Group news, insider Rizwan M. Jamal sold 8,622 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $172.89, for a total transaction of $1,490,657.58. Following the completion of the transaction, the insider now directly owns 128,457 shares in the company, valued at approximately $22,208,930.73. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Thomas M. Wojcik sold 4,786 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $172.71, for a total transaction of $826,590.06. Following the transaction, the chief operating officer now owns 84,392 shares of the company’s stock, valued at $14,575,342.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,408 shares of company stock worth $3,865,068 in the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AMG. Altshuler Shaham Ltd purchased a new stake in shares of Affiliated Managers Group during the second quarter valued at approximately $28,000. UMB Bank n.a. raised its stake in shares of Affiliated Managers Group by 481.3% during the third quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 154 shares during the period. Denali Advisors LLC raised its stake in shares of Affiliated Managers Group by 429.2% during the first quarter. Denali Advisors LLC now owns 254 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 206 shares during the period. Daiwa Securities Group Inc. purchased a new stake in shares of Affiliated Managers Group during the second quarter valued at approximately $47,000. Finally, Goodman Advisory Group LLC purchased a new stake in shares of Affiliated Managers Group during the second quarter valued at approximately $50,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on AMG. StockNews.com cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Bank of America raised their price target on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Affiliated Managers Group from $202.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. TD Cowen raised their target price on shares of Affiliated Managers Group from $201.00 to $226.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, Barrington Research raised their target price on shares of Affiliated Managers Group from $190.00 to $210.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.50.

Affiliated Managers Group Stock Up 0.9 %

Shares of AMG traded up $1.76 during mid-day trading on Friday, hitting $188.00. The company had a trading volume of 112,000 shares, compared to its average volume of 245,228. The business’s 50-day simple moving average is $172.73 and its 200-day simple moving average is $165.58. Affiliated Managers Group has a 1-year low of $120.22 and a 1-year high of $189.83. The stock has a market cap of $5.99 billion, a PE ratio of 10.44, a P/E/G ratio of 0.58 and a beta of 1.20.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, July 29th. The asset manager reported $4.67 earnings per share for the quarter, beating analysts’ consensus estimates of $4.60 by $0.07. The firm had revenue of $500.30 million for the quarter, compared to analysts’ expectations of $518.03 million. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. Affiliated Managers Group’s revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $4.45 earnings per share. On average, sell-side analysts expect that Affiliated Managers Group will post 21.98 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.22%.

Affiliated Managers Group Company Profile

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.