Affiliated Managers Group, Inc. Plans Quarterly Dividend of $0.01 (NYSE:AMG)

Affiliated Managers Group, Inc. (NYSE:AMG) announced a quarterly dividend on Monday, November 4th, Zacks reports. Shareholders of record on Thursday, November 14th will be paid a dividend of 0.01 per share by the asset manager on Friday, November 29th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend is Thursday, November 14th.

Affiliated Managers Group has decreased its dividend payment by an average of 51.5% per year over the last three years. Affiliated Managers Group has a payout ratio of 0.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Affiliated Managers Group to earn $24.79 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 0.2%.

Affiliated Managers Group Price Performance

Shares of AMG stock opened at $177.06 on Tuesday. The firm’s 50-day simple moving average is $180.34 and its 200-day simple moving average is $168.67. Affiliated Managers Group has a 1-year low of $129.57 and a 1-year high of $199.52. The firm has a market cap of $5.28 billion, a P/E ratio of 10.40, a PEG ratio of 0.62 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). The company had revenue of $525.20 million during the quarter, compared to analyst estimates of $521.87 million. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the business earned $4.08 EPS. Analysts expect that Affiliated Managers Group will post 22.02 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jay C. Horgen sold 9,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $171.98, for a total transaction of $1,547,820.00. Following the completion of the sale, the chief executive officer now directly owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Jay C. Horgen sold 9,000 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $171.98, for a total value of $1,547,820.00. Following the completion of the transaction, the chief executive officer now owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Thomas M. Wojcik sold 4,786 shares of Affiliated Managers Group stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $172.71, for a total value of $826,590.06. Following the sale, the chief operating officer now owns 84,392 shares in the company, valued at $14,575,342.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,408 shares of company stock worth $3,865,068 over the last 90 days. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AMG shares. TD Cowen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their price objective for the stock from $226.00 to $177.00 in a report on Tuesday. Bank of America raised their price target on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Affiliated Managers Group from $202.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. StockNews.com lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, Barrington Research reiterated an “outperform” rating and issued a $210.00 price target on shares of Affiliated Managers Group in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $198.25.

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.