Short Interest in Affiliated Managers Group, Inc. (NYSE:AMG) Drops By 14.5%

Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report) was the target of a significant decline in short interest in March. As of March 31st, there was short interest totalling 765,300 shares, a decline of 14.5% from the March 15th total of 895,100 shares. Currently, 2.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 238,300 shares, the days-to-cover ratio is currently 3.2 days.

Wall Street Analyst Weigh In

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

Institutional Trading of Affiliated Managers Group

A number of institutional investors have recently made changes to their positions in AMG. Barclays PLC raised its holdings in Affiliated Managers Group by 261.0% during the 3rd quarter. Barclays PLC now owns 76,488 shares of the asset manager's stock valued at $13,600,000 after buying an additional 55,302 shares during the last quarter. SkyView Investment Advisors LLC raised its stake in shares of Affiliated Managers Group by 2.4% during the third quarter. SkyView Investment Advisors LLC now owns 5,818 shares of the asset manager's stock valued at $1,034,000 after acquiring an additional 137 shares during the last quarter. World Investment Advisors LLC bought a new position in shares of Affiliated Managers Group during the third quarter valued at about $2,592,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Affiliated Managers Group during the third quarter worth about $46,000. Finally, Franklin Resources Inc. grew its stake in shares of Affiliated Managers Group by 18.3% in the third quarter. Franklin Resources Inc. now owns 101,913 shares of the asset manager's stock worth $19,363,000 after purchasing an additional 15,746 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Price Performance

Shares of Affiliated Managers Group stock opened at $156.05 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.13 and a current ratio of 2.13. Affiliated Managers Group has a 52-week low of $139.22 and a 52-week high of $199.52. The company has a fifty day moving average of $163.28 and a 200-day moving average of $178.09. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of 10.33, a price-to-earnings-growth ratio of 0.57 and a beta of 1.09.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings results 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 net margin of 25.06% and a return on equity of 16.17%. Equities research analysts expect that Affiliated Managers Group will post 22.86 EPS for the current year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were given a $0.01 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.04 annualized dividend and a yield of 0.03%. Affiliated Managers Group's payout ratio is currently 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.

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