Affiliated Managers Group, Inc. (AMG) to Issue Quarterly Dividend of $0.01 on February 29th

Affiliated Managers Group, Inc. (NYSE:AMGGet Free Report) announced a quarterly dividend on Monday, February 5th, Zacks reports. Shareholders of record on Thursday, February 15th will be paid a dividend of 0.01 per share by the asset manager on Thursday, February 29th. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Wednesday, February 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. Equities analysts expect Affiliated Managers Group to earn $23.96 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 Up 1.0 %

Shares of NYSE:AMG opened at $155.89 on Monday. The business has a fifty day moving average of $149.03 and a two-hundred day moving average of $137.84. The stock has a market cap of $5.27 billion, a P/E ratio of 8.99, a PEG ratio of 0.57 and a beta of 1.31. Affiliated Managers Group has a 52-week low of $120.22 and a 52-week high of $168.89.

Affiliated Managers Group (NYSE:AMGGet Free Report) last issued its earnings results on Monday, February 5th. The asset manager reported $6.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.03 by $0.83. The company had revenue of $502.70 million during the quarter, compared to analysts’ expectations of $524.98 million. Affiliated Managers Group had a return on equity of 16.29% and a net margin of 32.71%. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the prior year, the business earned $7.28 EPS. On average, equities analysts anticipate that Affiliated Managers Group will post 21.19 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on AMG. Barrington Research increased their price target on Affiliated Managers Group from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Tuesday, January 16th. TD Cowen began coverage on Affiliated Managers Group in a report on Thursday, January 4th. They set an “outperform” rating and a $185.00 price target for the company. Finally, StockNews.com upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Friday, October 20th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $168.20.

Check Out Our Latest Stock Analysis on Affiliated Managers Group

Institutional Investors Weigh In On Affiliated Managers Group

A number of hedge funds have recently bought and sold shares of the stock. US Bancorp DE raised its position in Affiliated Managers Group by 21.9% in the 4th quarter. US Bancorp DE now owns 3,446 shares of the asset manager’s stock valued at $522,000 after purchasing an additional 620 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of Affiliated Managers Group by 38.5% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 3,969 shares of the asset manager’s stock valued at $517,000 after acquiring an additional 1,104 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Affiliated Managers Group by 8.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 29,064 shares of the asset manager’s stock valued at $3,788,000 after acquiring an additional 2,185 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Affiliated Managers Group by 10.3% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 6,751 shares of the asset manager’s stock valued at $1,012,000 after acquiring an additional 629 shares during the last quarter. Finally, SkyView Investment Advisors LLC increased its holdings in shares of Affiliated Managers Group by 9.4% in the 2nd quarter. SkyView Investment Advisors LLC now owns 4,301 shares of the asset manager’s stock valued at $645,000 after acquiring an additional 371 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

About Affiliated Managers Group

(Get Free Report)

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.

Further Reading

Dividend History for Affiliated Managers Group (NYSE:AMG)

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