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

Affiliated Managers Group, Inc. (NYSE:AMG) declared a quarterly dividend on Monday, November 4th, Zacks reports. Investors of record on Thursday, November 14th will be given 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 yield of 0.02%. The ex-dividend date of this dividend 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 payout ratio of 0.2% meaning its dividend is sufficiently covered by earnings. 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. The stock’s 50 day moving average price is $180.34 and its two-hundred day moving average price is $168.67. Affiliated Managers Group has a 52-week low of $129.57 and a 52-week high of $199.52. The stock has a market capitalization of $5.28 billion, a P/E ratio of 10.40, a PEG ratio of 0.62 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results 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 analyst estimates of $521.87 million. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. The business’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the company posted $4.08 earnings per share. On average, analysts anticipate that Affiliated Managers Group will post 22.02 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AMG. TD Cowen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $226.00 to $177.00 in a research report on Tuesday. StockNews.com cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Affiliated Managers Group from $202.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Bank of America boosted their price objective on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, Barrington Research restated an “outperform” rating and issued a $210.00 target price on shares of Affiliated Managers Group in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $198.25.

Insider Buying and Selling at Affiliated Managers Group

In other Affiliated Managers Group news, insider Rizwan M. Jamal sold 8,622 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $172.89, for a total value of $1,490,657.58. Following the completion of the sale, the insider now owns 128,457 shares in the company, valued at $22,208,930.73. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Rizwan M. Jamal sold 8,622 shares of Affiliated Managers Group stock in a transaction dated 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 in the company, valued at $22,208,930.73. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jay C. Horgen sold 9,000 shares of Affiliated Managers Group 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 completion of the sale, the chief executive officer now owns 377,276 shares of the company’s stock, valued at $64,883,926.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,408 shares of company stock valued at $3,865,068 in the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

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.