Short Interest in Affiliated Managers Group, Inc. (NYSE:AMG) Rises By 28.9%

Key Points

• Short interest rose 28.9% in April to 977,259 shares, equal to about 3.8% of the stock and a days-to-cover ratio of 2.8.
• Shares fell 1.1% to $289.39 and the stock trades at a P/E of 12.54 with a market cap of $7.68 billion. The company beat quarterly EPS estimates with $9.48 EPS (revenue missed slightly), and analysts hold a consensus "Moderate Buy" with a $360.14 price target.

Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report) was the target of a large growth in short interest in April. As of April 15th, there was short interest totaling 977,259 shares, a growth of 28.9% from the March 31st total of 758,066 shares. Approximately 3.8% of the company's stock are short sold. Based on an average trading volume of 346,351 shares, the days-to-cover ratio is presently 2.8 days.

Affiliated Managers Group Stock Down 1.1%

Shares of Affiliated Managers Group stock traded down $3.08 during trading hours on Wednesday, reaching $289.39. 335,453 shares of the company's stock were exchanged, compared to its average volume of 398,236. The company has a 50 day moving average of $288.39 and a two-hundred day moving average of $283.47. Affiliated Managers Group has a fifty-two week low of $160.34 and a fifty-two week high of $334.78. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64. The stock has a market cap of $7.68 billion, a P/E ratio of 12.54, a P/E/G ratio of 0.53 and a beta of 1.20.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings data on Thursday, February 12th. The asset manager reported $9.48 EPS for the quarter, topping analysts' consensus estimates of $8.75 by $0.73. Affiliated Managers Group had a net margin of 34.55% and a return on equity of 18.45%. The company had revenue of $556.60 million during the quarter, compared to the consensus estimate of $578.54 million. During the same period in the prior year, the business posted $6.53 EPS. The company's quarterly revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts forecast that Affiliated Managers Group will post 30.49 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Monday, February 23rd were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend was Monday, February 23rd. Affiliated Managers Group's dividend payout ratio is presently 0.17%.

Insider Buying and Selling at Affiliated Managers Group

In related news, COO Thomas M. Wojcik sold 8,000 shares of the business's stock in a transaction on Friday, March 6th. The shares were sold at an average price of $286.30, for a total value of $2,290,400.00. Following the sale, the chief operating officer directly owned 159,465 shares of the company's stock, valued at approximately $45,654,829.50. The trade was a 4.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Kavita Padiyar sold 2,200 shares of the business's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $278.24, for a total transaction of $612,128.00. Following the completion of the sale, the general counsel directly owned 42,672 shares in the company, valued at $11,873,057.28. This represents a 4.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 4.20% of the company's stock.

Institutional Investors Weigh In On Affiliated Managers Group

Institutional investors and hedge funds have recently modified their holdings of the company. Leonteq Securities AG bought a new stake in shares of Affiliated Managers Group in the 4th quarter valued at about $30,000. Root Financial Partners LLC bought a new stake in shares of Affiliated Managers Group in the 3rd quarter valued at about $33,000. Meeder Asset Management Inc. bought a new stake in shares of Affiliated Managers Group in the 3rd quarter valued at about $34,000. Hantz Financial Services Inc. raised its holdings in shares of 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 purchasing an additional 93 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Affiliated Managers Group in the 4th quarter valued at about $42,000. 95.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wall Street Zen cut shares of Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, April 4th. The Goldman Sachs Group boosted their price target on shares of Affiliated Managers Group from $300.00 to $341.00 and gave the stock a "buy" rating in a research report on Tuesday, January 6th. TD Cowen restated a "buy" rating on shares of Affiliated Managers Group in a research note on Thursday, April 9th. Barrington Research restated an "outperform" rating and set a $365.00 price objective on shares of Affiliated Managers Group in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft set a $408.00 price objective on shares of Affiliated Managers Group and gave the stock a "buy" rating in a research note on Friday, February 13th. 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, Affiliated Managers Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $360.14.

Affiliated Managers Group Company Profile

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.

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