Affiliated Managers Group, Inc. to Issue 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 by an average of 51.5% per year over the last three years. Affiliated Managers Group has a payout ratio of 0.2% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Down 8.6 %

Shares of Affiliated Managers Group stock opened at $177.06 on Tuesday. Affiliated Managers Group has a 52 week low of $129.57 and a 52 week high of $199.52. The stock’s 50-day simple moving average is $180.34 and its 200-day simple moving average is $168.67. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 0.62 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 EPS for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). The firm had revenue of $525.20 million for the quarter, compared to analysts’ expectations of $521.87 million. Affiliated Managers Group had a return on equity of 16.50% and a net margin of 31.51%. Affiliated Managers Group’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm posted $4.08 earnings per share. On average, equities analysts expect that Affiliated Managers Group will post 22.02 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AMG shares. StockNews.com cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. TD Cowen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $226.00 to $177.00 in a research report on Tuesday. Bank of America upped their price target on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Barrington Research reiterated an “outperform” rating and set a $210.00 target price on shares of Affiliated Managers Group in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Affiliated Managers Group from $219.00 to $204.00 and set a “buy” rating for the company in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $198.00.

Insider Transactions at Affiliated Managers Group

In other Affiliated Managers Group news, CEO Jay C. Horgen sold 9,000 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now owns 377,276 shares in the company, valued at approximately $64,883,926.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Affiliated Managers Group news, insider Rizwan M. Jamal sold 8,622 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $172.89, for a total transaction of $1,490,657.58. Following the sale, the insider now directly owns 128,457 shares in the company, valued at $22,208,930.73. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jay C. Horgen sold 9,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $171.98, for a total transaction of $1,547,820.00. Following the sale, the chief executive officer now owns 377,276 shares in the company, valued at approximately $64,883,926.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,408 shares of company stock worth $3,865,068. Insiders own 1.90% of the company’s stock.

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.