Affiliated Managers Group, Inc. Announces 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. Shareholders of record on Thursday, August 8th will be paid a dividend of 0.01 per share by the asset manager on Thursday, August 22nd. 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, August 8th.

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% meaning its dividend is sufficiently covered by earnings. Analysts expect Affiliated Managers Group to earn $24.47 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 Up 0.4 %

AMG stock traded up $0.82 during midday trading on Tuesday, reaching $184.73. The company’s stock had a trading volume of 414,533 shares, compared to its average volume of 266,957. Affiliated Managers Group has a 52 week low of $120.22 and a 52 week high of $187.29. The stock has a market cap of $5.89 billion, a PE ratio of 10.14, a price-to-earnings-growth ratio of 0.62 and a beta of 1.22. The business’s 50-day simple moving average is $160.64 and its 200-day simple moving average is $159.08.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, July 29th. The asset manager reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.60 by $0.07. Affiliated Managers Group had a net margin of 33.74% and a return on equity of 16.66%. The firm had revenue of $500.30 million for the quarter, compared to analysts’ expectations of $518.03 million. During the same period last year, the firm earned $4.45 earnings per share. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, equities analysts forecast that Affiliated Managers Group will post 21.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AMG has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Affiliated Managers Group from $188.00 to $202.00 and gave the stock a “buy” rating in a report on Tuesday. Bank of America increased their target price on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a report on Tuesday. Barrington Research increased their target price on shares of Affiliated Managers Group from $190.00 to $210.00 and gave the stock an “outperform” rating in a report on Monday. Finally, TD Cowen increased their target price on shares of Affiliated Managers Group from $201.00 to $226.00 and gave the stock a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.