Traders Purchase High Volume of Put Options on Affiliated Managers Group (AMG)

Affiliated Managers Group, Inc. (NYSE:AMG) saw unusually large options trading activity on Thursday. Stock investors bought 3,017 put options on the company. This is an increase of approximately 1,585% compared to the average daily volume of 179 put options.

Hedge funds have recently modified their holdings of the company. Cornerstone Wealth Management LLC acquired a new position in shares of Affiliated Managers Group during the second quarter worth $156,000. Cerebellum GP LLC acquired a new position in shares of Affiliated Managers Group during the second quarter worth $172,000. Koch Industries Inc. acquired a new position in shares of Affiliated Managers Group during the first quarter worth $209,000. Alta Capital Management LLC acquired a new position in shares of Affiliated Managers Group during the third quarter worth $227,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Affiliated Managers Group during the first quarter worth $247,000. 93.98% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:AMG opened at $123.69 on Friday. The company has a market capitalization of $6.80 billion, a P/E ratio of 8.47, a price-to-earnings-growth ratio of 0.63 and a beta of 1.48. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.43. Affiliated Managers Group has a 52 week low of $122.13 and a 52 week high of $216.99.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, July 30th. The asset manager reported $3.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.59 by $0.02. The business had revenue of $600.10 million for the quarter, compared to the consensus estimate of $604.68 million. Affiliated Managers Group had a return on equity of 19.44% and a net margin of 29.59%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.33 earnings per share. On average, sell-side analysts predict that Affiliated Managers Group will post 15.4 EPS for the current fiscal year.

AMG has been the subject of a number of recent research reports. Barrington Research reduced their price objective on shares of Affiliated Managers Group from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, July 16th. Keefe, Bruyette & Woods raised shares of Affiliated Managers Group from a “market perform” rating to an “outperform” rating and set a $191.00 price objective for the company in a research note on Monday, July 30th. Zacks Investment Research raised shares of Affiliated Managers Group from a “sell” rating to a “hold” rating in a research note on Friday, September 21st. Deutsche Bank reduced their price objective on shares of Affiliated Managers Group from $187.00 to $172.00 and set a “buy” rating for the company in a research note on Thursday, October 11th. Finally, TheStreet downgraded shares of Affiliated Managers Group from a “b-” rating to a “c+” rating in a research note on Monday, June 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $205.25.

Affiliated Managers Group Company Profile

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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