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

Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report) declared a quarterly dividend on Monday, November 4th, Zacks reports. Shareholders 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 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% annually over the last three years. Affiliated Managers Group has a payout ratio of 0.2% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Up 0.3 %

AMG traded up $0.59 during midday trading on Tuesday, hitting $177.65. 423,812 shares of the company traded hands, compared to its average volume of 241,774. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of 10.47, a PEG ratio of 0.62 and a beta of 1.18. Affiliated Managers Group has a 52-week low of $129.57 and a 52-week high of $199.52. The business has a 50 day simple moving average of $180.34 and a two-hundred day simple moving average of $168.67.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $525.20 million for the quarter, compared to analysts' expectations 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 for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $4.08 earnings per share. Equities research analysts anticipate that Affiliated Managers Group will post 22.02 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Jay C. Horgen sold 9,000 shares of the firm's stock in a transaction on Monday, August 19th. The stock was 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 in the company, valued at $64,883,926.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, COO Thomas M. Wojcik sold 4,786 shares of Affiliated Managers Group 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 sale, the chief operating officer now owns 84,392 shares in the company, valued at $14,575,342.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 sale, the chief executive officer now owns 377,276 shares in the company, valued at $64,883,926.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,408 shares of company stock worth $3,865,068. 1.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on AMG shares. Bank of America boosted their target price on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the company a "neutral" rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Affiliated Managers Group from $219.00 to $204.00 and set a "buy" rating on the stock in a research note on Tuesday. Barrington Research lowered their target price 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. StockNews.com cut shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a research note on Tuesday, July 30th. Finally, TD Cowen cut shares of Affiliated Managers Group from a "buy" rating to a "hold" rating and decreased their price target for the stock from $226.00 to $177.00 in a research note on Tuesday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Affiliated Managers Group currently has an average rating of "Hold" and an average target price of $195.50.

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.