Short Interest in Affiliated Managers Group, Inc. (NYSE:AMG) Rises By 25.1%

Affiliated Managers Group, Inc. (NYSE:AMG) saw a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 774,100 shares, a growth of 25.1% from the May 15th total of 618,600 shares. Based on an average daily trading volume, of 264,400 shares, the days-to-cover ratio is currently 2.9 days. Currently, 2.5% of the company’s shares are sold short.

Institutional Trading of Affiliated Managers Group

Institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in Affiliated Managers Group during the 4th quarter worth approximately $66,223,000. Channing Capital Management LLC lifted its position in Affiliated Managers Group by 688.9% during the 4th quarter. Channing Capital Management LLC now owns 474,542 shares of the asset manager’s stock worth $71,855,000 after acquiring an additional 414,389 shares in the last quarter. New York State Common Retirement Fund lifted its position in Affiliated Managers Group by 342.1% during the 4th quarter. New York State Common Retirement Fund now owns 161,375 shares of the asset manager’s stock worth $24,435,000 after acquiring an additional 124,871 shares in the last quarter. Ariel Investments LLC lifted its position in Affiliated Managers Group by 11.3% during the 3rd quarter. Ariel Investments LLC now owns 1,188,146 shares of the asset manager’s stock worth $154,863,000 after acquiring an additional 120,977 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Affiliated Managers Group by 294.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 148,243 shares of the asset manager’s stock worth $22,447,000 after acquiring an additional 110,646 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Performance

Shares of NYSE:AMG traded up $3.33 during trading on Monday, reaching $151.73. 571,941 shares of the stock were exchanged, compared to its average volume of 247,974. Affiliated Managers Group has a 12-month low of $120.22 and a 12-month high of $169.65. The firm has a market cap of $4.83 billion, a price-to-earnings ratio of 8.42, a price-to-earnings-growth ratio of 0.48 and a beta of 1.24. The firm’s 50-day moving average price is $158.86 and its 200 day moving average price is $155.71.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, May 6th. The asset manager reported $5.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.21 by $0.16. Affiliated Managers Group had a return on equity of 16.66% and a net margin of 33.74%. The business had revenue of $499.90 million during the quarter, compared to analysts’ expectations of $524.53 million. During the same quarter in the previous year, the business earned $4.18 EPS. As a group, equities research analysts forecast that Affiliated Managers Group will post 21.72 EPS for the current year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Wednesday, May 15th. Affiliated Managers Group’s payout ratio is currently 0.22%.

Analyst Ratings Changes

Several research firms have commented on AMG. TD Cowen lowered their price target on Affiliated Managers Group from $218.00 to $198.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Barrington Research restated an “outperform” rating and issued a $190.00 price target on shares of Affiliated Managers Group in a report on Tuesday, May 7th.

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.