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

Affiliated Managers Group, Inc. (NYSE:AMG) declared a quarterly dividend on Monday, July 29th, Wall Street Journal reports. Stockholders of record on Thursday, August 8th will be given a dividend of 0.01 per share by the asset manager on Thursday, August 22nd. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date is Thursday, August 8th.

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. Research analysts expect Affiliated Managers Group to earn $24.66 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 Up 0.2 %

NYSE:AMG opened at $161.19 on Wednesday. The company’s 50-day moving average price is $162.35 and its 200-day moving average price is $160.10. The company has a market cap of $5.14 billion, a P/E ratio of 8.94, a P/E/G ratio of 0.62 and a beta of 1.22. Affiliated Managers Group has a twelve month low of $120.22 and a twelve month high of $189.81.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, July 29th. The asset manager reported $4.67 earnings per share for the quarter, topping the consensus estimate of $4.60 by $0.07. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. The firm had revenue of $500.30 million for the quarter, compared to the consensus estimate of $518.03 million. During the same period last year, the firm posted $4.45 earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, analysts expect that Affiliated Managers Group will post 21.82 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Barrington Research lifted their target price on shares of Affiliated Managers Group from $190.00 to $210.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Bank of America lifted their price target on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. StockNews.com cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. TD Cowen lifted their price target on shares of Affiliated Managers Group from $201.00 to $226.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Affiliated Managers Group from $188.00 to $202.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $199.20.

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.