Affiliated Managers Group, Inc. (NYSE:AMG) was the recipient of some unusual options trading on Monday. Stock traders acquired 5,651 put options on the stock. This is an increase of approximately 4,772% compared to the typical daily volume of 116 put options.
AMG has been the topic of several recent analyst reports. Deutsche Bank increased their target price on shares of Affiliated Managers Group from $91.00 to $92.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. ValuEngine raised shares of Affiliated Managers Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Barrington Research set a $100.00 price target on shares of Affiliated Managers Group and gave the company a “buy” rating in a report on Friday, October 11th. Citigroup cut their price target on shares of Affiliated Managers Group from $98.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Finally, Zacks Investment Research raised shares of Affiliated Managers Group from a “sell” rating to a “hold” rating and set a $81.00 price objective on the stock in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $95.12.
In related news, Director Samuel T. Byrne purchased 6,589 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was bought at an average cost of $88.77 per share, for a total transaction of $584,905.53. Following the completion of the transaction, the director now directly owns 19,082 shares in the company, valued at $1,693,909.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Patrick T. Ryan sold 3,411 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $84.38, for a total value of $287,820.18. Following the completion of the sale, the director now owns 16,680 shares of the company’s stock, valued at $1,407,458.40. The disclosure for this sale can be found here. Insiders own 1.43% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of AMG. Ossiam bought a new stake in Affiliated Managers Group during the 2nd quarter valued at about $48,000. Rampart Investment Management Company LLC raised its stake in shares of Affiliated Managers Group by 39.6% during the second quarter. Rampart Investment Management Company LLC now owns 666 shares of the asset manager’s stock valued at $61,000 after acquiring an additional 189 shares in the last quarter. CSat Investment Advisory L.P. raised its stake in shares of Affiliated Managers Group by 64.5% during the second quarter. CSat Investment Advisory L.P. now owns 847 shares of the asset manager’s stock valued at $78,000 after acquiring an additional 332 shares in the last quarter. ETF Managers Group LLC purchased a new stake in shares of Affiliated Managers Group in the second quarter valued at approximately $151,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Affiliated Managers Group by 2,244.0% in the third quarter. Tower Research Capital LLC TRC now owns 2,344 shares of the asset manager’s stock valued at $195,000 after purchasing an additional 2,244 shares during the period. 98.60% of the stock is owned by hedge funds and other institutional investors.
Shares of AMG stock opened at $83.50 on Tuesday. The stock has a 50 day moving average price of $82.14 and a 200 day moving average price of $83.84. Affiliated Managers Group has a 52-week low of $71.08 and a 52-week high of $115.75. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.37 and a current ratio of 1.42. The firm has a market capitalization of $4.21 billion, a P/E ratio of 5.76, a P/E/G ratio of 0.62 and a beta of 1.66.
Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, October 28th. The asset manager reported $3.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.14 by $0.02. Affiliated Managers Group had a positive return on equity of 17.83% and a negative net margin of 7.03%. The company had revenue of $549.00 million for the quarter, compared to the consensus estimate of $547.10 million. During the same quarter in the prior year, the company posted $3.45 EPS. Affiliated Managers Group’s quarterly revenue was down 8.7% on a year-over-year basis. As a group, sell-side analysts forecast that Affiliated Managers Group will post 13.77 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Wednesday, November 6th. Affiliated Managers Group’s dividend payout ratio is currently 8.83%.
About Affiliated Managers Group
Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.
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