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 Dividends reports. Investors 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 annualized dividend and a yield of 0.02%. The ex-dividend date 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 dividend payout ratio of 0.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Affiliated Managers Group to earn $23.79 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 1.5 %

Shares of NYSE AMG opened at $184.08 on Wednesday. The business’s 50 day moving average price is $181.67 and its two-hundred day moving average price is $169.65. The company has a market cap of $5.49 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 0.66 and a beta of 1.18. Affiliated Managers Group has a twelve month low of $129.99 and a twelve month high of $199.52.

Affiliated Managers Group (NYSE:AMG) last posted its 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). Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The business had revenue of $525.20 million for the quarter, compared to analyst estimates of $521.87 million. During the same period in the previous year, the firm posted $4.08 earnings per share. The firm’s revenue was up 1.7% compared to the same quarter last year. As a group, research analysts anticipate that Affiliated Managers Group will post 21.25 EPS for the current fiscal year.

Insider Activity

In other news, COO Thomas M. Wojcik sold 4,786 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $172.71, for a total transaction 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 approximately $14,575,342.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Jay C. Horgen sold 9,000 shares of the stock in a transaction that occurred 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Thomas M. Wojcik sold 4,786 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $172.71, for a total transaction of $826,590.06. Following the transaction, the chief operating officer now owns 84,392 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders sold 22,408 shares of company stock worth $3,865,068. Corporate insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. StockNews.com cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a research report on Monday. Bank of America upped their target price on Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. TD Cowen cut 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 report on Tuesday, November 5th. Finally, Barrington Research reduced their price target on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Affiliated Managers Group presently has a consensus rating of “Hold” and an average target price of $196.50.

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.