Affiliated Managers Group, Inc. (NYSE:AMG) to Issue $0.01 Quarterly Dividend

Affiliated Managers Group, Inc. (NYSE:AMG) announced a quarterly dividend on Friday, February 7th,Wall Street Journal reports. Investors of record on Tuesday, February 18th will be given a dividend of 0.01 per share by the asset manager on Tuesday, March 4th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend is Tuesday, February 18th.

Affiliated Managers Group has a payout ratio of 0.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Affiliated Managers Group to earn $22.83 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 Trading Down 2.0 %

NYSE:AMG traded down $3.69 during trading hours on Friday, hitting $179.05. The stock had a trading volume of 103,178 shares, compared to its average volume of 193,610. Affiliated Managers Group has a 1-year low of $147.13 and a 1-year high of $199.52. The business has a 50 day simple moving average of $185.22 and a two-hundred day simple moving average of $181.11. The company has a market cap of $5.41 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 0.69 and a beta of 1.15.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data 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 27.02% and a return on equity of 16.76%. Research analysts expect that Affiliated Managers Group will post 20.9 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on AMG shares. TD Cowen lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their price target for the stock from $226.00 to $177.00 in a research note on Tuesday, November 5th. The Goldman Sachs Group downgraded shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and reduced their price target for the company from $193.00 to $191.00 in a report on Monday, January 6th. Barrington Research boosted their price target on shares of Affiliated Managers Group from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $198.40.

About Affiliated Managers Group

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.