Affiliated Managers Group, Inc. (NYSE:AMG) Sees Large Decline in Short Interest

Affiliated Managers Group, Inc. (NYSE:AMG) was the recipient of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 765,300 shares, a decrease of 14.5% from the March 15th total of 895,100 shares. Approximately 2.7% of the company’s stock are sold short. Based on an average trading volume of 238,300 shares, the days-to-cover ratio is currently 3.2 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AMG shares. Bank of America cut their target price on shares of Affiliated Managers Group from $211.00 to $195.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. TD Cowen decreased their target price on Affiliated Managers Group from $187.00 to $168.00 and set a “hold” rating on the stock in a research report on Wednesday, April 9th. StockNews.com raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Barrington Research lowered their price objective on Affiliated Managers Group from $215.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 8th. Finally, The Goldman Sachs Group downgraded shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and decreased their price target for the company from $193.00 to $191.00 in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.40.

Hedge Funds Weigh In On Affiliated Managers Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. World Investment Advisors LLC acquired a new position in Affiliated Managers Group in the third quarter valued at approximately $2,592,000. Charles Schwab Investment Management Inc. lifted its position in shares of Affiliated Managers Group by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 331,106 shares of the asset manager’s stock valued at $61,228,000 after acquiring an additional 2,264 shares during the period. Empirical Asset Management LLC boosted its stake in Affiliated Managers Group by 10,522.8% during the fourth quarter. Empirical Asset Management LLC now owns 190,360 shares of the asset manager’s stock worth $347,000 after acquiring an additional 188,568 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Affiliated Managers Group by 4.8% in the fourth quarter. Victory Capital Management Inc. now owns 118,627 shares of the asset manager’s stock worth $21,937,000 after purchasing an additional 5,436 shares during the period. Finally, Channing Capital Management LLC increased its stake in Affiliated Managers Group by 5.5% in the fourth quarter. Channing Capital Management LLC now owns 514,580 shares of the asset manager’s stock valued at $95,156,000 after purchasing an additional 26,654 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Stock Up 3.3 %

AMG stock opened at $158.45 on Wednesday. The firm has a 50-day moving average price of $162.81 and a 200-day moving average price of $177.76. The stock has a market capitalization of $4.56 billion, a P/E ratio of 10.49, a price-to-earnings-growth ratio of 0.57 and a beta of 1.09. Affiliated Managers Group has a 12 month low of $139.22 and a 12 month high of $199.52. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.61.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Thursday, February 6th. The asset manager reported $6.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. As a group, equities research analysts anticipate that Affiliated Managers Group will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Tuesday, February 18th. Affiliated Managers Group’s payout ratio is presently 0.26%.

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.