Affiliated Managers Group, Inc. (AMG) to Issue Quarterly Dividend of $0.32

Affiliated Managers Group, Inc. (NYSE:AMG) announced a quarterly dividend on Tuesday, May 7th, Wall Street Journal reports. Shareholders of record on Thursday, May 16th will be given a dividend of 0.32 per share by the asset manager on Thursday, May 30th. This represents a $1.28 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Wednesday, May 15th.

Affiliated Managers Group has a payout ratio of 8.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Affiliated Managers Group to earn $15.34 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 8.3%.

Affiliated Managers Group stock traded down $1.16 during mid-day trading on Thursday, reaching $86.06. The company’s stock had a trading volume of 482,900 shares, compared to its average volume of 566,097. Affiliated Managers Group has a 12 month low of $85.65 and a 12 month high of $168.19. The company has a market cap of $4.45 billion, a P/E ratio of 5.94, a price-to-earnings-growth ratio of 0.61 and a beta of 1.49.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, May 6th. The asset manager reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.27 by ($0.01). The firm had revenue of $543.10 million during the quarter, compared to the consensus estimate of $541.42 million. Affiliated Managers Group had a negative net margin of 4.77% and a positive return on equity of 17.72%. The business’s revenue was down 11.3% on a year-over-year basis. During the same period last year, the business earned $3.92 EPS. As a group, analysts predict that Affiliated Managers Group will post 13.9 earnings per share for the current fiscal year.

A number of analysts have recently issued reports on AMG shares. Zacks Investment Research upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a research note on Tuesday, April 2nd. ValuEngine cut shares of Affiliated Managers Group from a “sell” rating to a “strong sell” rating in a research report on Monday, April 1st. Barrington Research restated a “buy” rating and issued a $135.00 target price on shares of Affiliated Managers Group in a research report on Tuesday, April 30th. Finally, Deutsche Bank decreased their price target on shares of Affiliated Managers Group from $111.00 to $103.00 and set a “hold” rating on the stock in a report on Tuesday, May 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $130.86.

In related news, Director Tracy P. Palandjian sold 1,694 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $110.64, for a total transaction of $187,424.16. Following the transaction, the director now owns 4,291 shares in the company, valued at approximately $474,756.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jay C. Horgen bought 11,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were bought at an average price of $93.19 per share, for a total transaction of $1,025,090.00. Following the transaction, the insider now directly owns 115,527 shares in the company, valued at $10,765,961.13. The disclosure for this purchase can be found here. 1.43% of the stock is currently owned by insiders.

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Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

Further Reading: What is the Coverage Ratio?

Dividend History for Affiliated Managers Group (NYSE:AMG)

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