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

Affiliated Managers Group, Inc. (NYSE:AMG) declared a quarterly dividend on Monday, November 4th, Zacks reports. Stockholders 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 dividend yield of 0.02%. The ex-dividend date 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 dividend 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 NYSE:AMG opened at $177.06 on Tuesday. Affiliated Managers Group has a fifty-two week low of $129.57 and a fifty-two week high of $199.52. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 0.62 and a beta of 1.18. The firm’s 50 day moving average price is $180.34 and its 200 day moving average price is $168.67.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing the consensus estimate 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 last year, the firm posted $4.08 earnings per share. On average, equities analysts anticipate that Affiliated Managers Group will post 22.02 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, insider Rizwan M. Jamal sold 8,622 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $172.89, for a total transaction of $1,490,657.58. Following the completion of the sale, the insider now directly owns 128,457 shares of the company’s stock, valued at $22,208,930.73. This trade 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 through this link. In other 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 transaction, the insider now directly owns 128,457 shares in the company, valued at $22,208,930.73. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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 shares were sold at an average price of $172.71, for a total value of $826,590.06. Following the completion of the sale, the chief operating officer now directly owns 84,392 shares in the company, valued at $14,575,342.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,408 shares of company stock valued at $3,865,068. Company 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.