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 Dividends reports. Shareholders 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 dividend on an annualized basis 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. 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 Performance

Shares of Affiliated Managers Group stock opened at $184.08 on Wednesday. Affiliated Managers Group has a 52 week low of $129.99 and a 52 week high of $199.52. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 0.66 and a beta of 1.18. The firm has a fifty day moving average of $181.67 and a two-hundred day moving average of $169.65.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share for the quarter, missing the consensus estimate of $4.84 by ($0.02). The company had revenue of $525.20 million during the quarter, compared to analyst estimates of $521.87 million. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $4.08 EPS. As a group, research analysts forecast that Affiliated Managers Group will post 21.25 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Barrington Research decreased their price objective on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Bank of America upped their price objective 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 lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price target on Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a report on Monday. Finally, TD Cowen cut Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $226.00 to $177.00 in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $196.50.

Insiders Place Their Bets

In other news, 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 value of $1,547,820.00. Following the sale, the chief executive officer now directly owns 377,276 shares in the company, valued at $64,883,926.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Rizwan M. Jamal sold 8,622 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 128,457 shares of the company’s stock, valued at approximately $22,208,930.73. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jay C. Horgen sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $171.98, for a total value of $1,547,820.00. Following the completion of the transaction, the chief executive officer now owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,408 shares of company stock valued at $3,865,068 in the last quarter. 1.90% of the stock is currently owned by 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.