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

Affiliated Managers Group, Inc. (NYSE:AMG) declared a quarterly dividend on Tuesday, July 30th, 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 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% 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 Price Performance

Shares of AMG stock traded up $0.92 during trading hours on Tuesday, reaching $184.82. The company had a trading volume of 383,719 shares, compared to its average volume of 266,957. Affiliated Managers Group has a 1-year low of $120.22 and a 1-year high of $187.29. The firm has a market cap of $5.89 billion, a price-to-earnings ratio of 10.14, a P/E/G ratio of 0.62 and a beta of 1.22. The company has a 50 day moving average of $160.64 and a 200 day moving average of $159.08.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on AMG. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Affiliated Managers Group from $188.00 to $202.00 and gave the company a “buy” rating in a report on Tuesday. TD Cowen raised their price objective on Affiliated Managers Group from $201.00 to $226.00 and gave the stock a “buy” rating in a research note on Tuesday. Barrington Research boosted their target price on Affiliated Managers Group from $190.00 to $210.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Bank of America raised their price target on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $199.20.

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.