Investors Buy High Volume of Put Options on Affiliated Managers Group (NYSE:AMG)

Affiliated Managers Group, Inc. (NYSE:AMG) was the target of some unusual options trading activity on Monday. Investors bought 5,651 put options on the company. This is an increase of 4,772% compared to the typical daily volume of 116 put options.

NYSE AMG opened at $83.50 on Tuesday. The stock 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 has a 52-week low of $71.08 and a 52-week high of $115.75. The firm has a 50-day moving average price of $82.14 and a 200 day moving average price of $83.84. The company has a quick ratio of 1.37, a current ratio of 1.42 and a debt-to-equity ratio of 0.49.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, October 28th. The asset manager reported $3.16 earnings per share for the quarter, beating the Zacks’ 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 analyst estimates of $547.10 million. During the same quarter in the previous year, the company earned $3.45 EPS. The firm’s revenue for the quarter was down 8.7% compared to the same quarter last year. On average, equities research analysts expect that Affiliated Managers Group will post 13.77 earnings per share for the current fiscal year.

The firm 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 (DPR) is 8.83%.

A number of research firms have weighed in on AMG. Bank of America increased their price objective on Affiliated Managers Group from $75.00 to $85.00 and gave the stock an “underperform” rating in a research report on Tuesday, October 8th. Zacks Investment Research upgraded Affiliated Managers Group from a “sell” rating to a “hold” rating and set a $81.00 target price on the stock in a research note on Thursday, October 3rd. Citigroup dropped their target price on Affiliated Managers Group from $98.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. ValuEngine upgraded Affiliated Managers Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Barrington Research set a $100.00 price target on Affiliated Managers Group and gave the stock a “buy” rating in a report on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $95.12.

In other Affiliated Managers Group news, Director Samuel T. Byrne bought 6,589 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was acquired at an average price of $88.77 per share, for a total transaction of $584,905.53. Following the completion of the purchase, the director now owns 19,082 shares of the company’s stock, valued at $1,693,909.14. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Patrick T. Ryan sold 3,411 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $84.38, for a total value of $287,820.18. Following the transaction, the director now directly owns 16,680 shares in the company, valued at approximately $1,407,458.40. The disclosure for this sale can be found here. Insiders own 1.43% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Ossiam purchased a new stake in shares of Affiliated Managers Group during the 2nd quarter worth $48,000. Rampart Investment Management Company LLC lifted its stake in shares of Affiliated Managers Group by 39.6% in the second quarter. Rampart Investment Management Company LLC now owns 666 shares of the asset manager’s stock valued at $61,000 after purchasing an additional 189 shares during the period. CSat Investment Advisory L.P. lifted its stake in shares of Affiliated Managers Group by 64.5% in the second quarter. CSat Investment Advisory L.P. now owns 847 shares of the asset manager’s stock valued at $78,000 after purchasing an additional 332 shares during the period. ETF Managers Group LLC acquired a new position in Affiliated Managers Group during the second quarter worth about $151,000. Finally, Tower Research Capital LLC TRC grew its position in Affiliated Managers Group by 2,244.0% during the third quarter. Tower Research Capital LLC TRC now owns 2,344 shares of the asset manager’s stock worth $195,000 after buying an additional 2,244 shares during the period. 98.60% of the stock is owned by institutional investors and hedge funds.

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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