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

Affiliated Managers Group, Inc. (NYSE:AMG) declared a quarterly dividend on Thursday, July 30th. Investors of record on Monday, August 10th will be paid a dividend of 0.01 per share by the asset manager on Monday, August 24th. This represents a c) dividend on an annualized basis and a yield of 0.0%. The ex-dividend date is Monday, August 10th.

Affiliated Managers Group has decreased its dividend payment by an average of 0.4%annually over the last three years. Affiliated Managers Group has a dividend payout ratio of 0.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Affiliated Managers Group to earn $40.00 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 0.1%.

Affiliated Managers Group Stock Up 2.0%

NYSE AMG traded up $7.10 on Thursday, hitting $367.17. 321,409 shares of the stock were exchanged, compared to its average volume of 364,226. Affiliated Managers Group has a fifty-two week low of $200.00 and a fifty-two week high of $382.75. The company has a 50-day moving average price of $343.28 and a 200-day moving average price of $314.19. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.73. The company has a market cap of $9.70 billion, a PE ratio of 14.85, a PEG ratio of 0.57 and a beta of 1.12.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.90 by $0.39. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.39 earnings per share. Sell-side analysts anticipate that Affiliated Managers Group will post 35.48 EPS for the current fiscal year.

Insider Transactions at Affiliated Managers Group

In other Affiliated Managers Group news, Director David Christopher Ryan sold 3,402 shares of Affiliated Managers Group stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $305.06, for a total transaction of $1,037,814.12. Following the transaction, the director owned 1,092 shares of the company’s stock, valued at $333,125.52. The trade was a 75.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Annette Franqui acquired 750 shares of Affiliated Managers Group stock in a transaction on Monday, June 1st. The stock was purchased at an average price of $304.88 per share, with a total value of $228,660.00. Following the purchase, the director owned 1,962 shares of the company’s stock, valued at $598,174.56. The trade was a 61.88% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders sold 21,902 shares of company stock worth $7,257,719. Insiders own 2.90% of the company’s stock.

Institutional Trading of Affiliated Managers Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Leonteq Securities AG acquired a new stake in Affiliated Managers Group during the 4th quarter worth $30,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Affiliated Managers Group in the fourth quarter valued at about $42,000. EverSource Wealth Advisors LLC raised its holdings in shares of Affiliated Managers Group by 45.5% in the first quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager’s stock valued at $50,000 after buying an additional 56 shares during the last quarter. Arax Advisory Partners boosted its stake in shares of Affiliated Managers Group by 94.1% during the fourth quarter. Arax Advisory Partners now owns 198 shares of the asset manager’s stock worth $57,000 after buying an additional 96 shares during the period. Finally, WealthCollab LLC boosted its stake in shares of Affiliated Managers Group by 40.5% during the first quarter. WealthCollab LLC now owns 229 shares of the asset manager’s stock worth $63,000 after buying an additional 66 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

About Affiliated Managers Group

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.