Affiliated Managers Group, Inc. (NYSE:AMG) Shareholders to Get $0.01 Quarterly Dividend

Affiliated Managers Group, Inc. (NYSE:AMG) announced a quarterly dividend on Monday, November 9th. Investors of record on Thursday, November 19th will be given a dividend of $0.01 per share by the asset manager on Thursday, December 3rd. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date is Thursday, November 19th.

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% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Affiliated Managers Group to earn $42.17 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 Trading Up 5.4%

Shares of NYSE AMG traded up $19.45 during midday trading on Monday, reaching $382.41. 615,398 shares of the stock were exchanged, compared to its average volume of 340,063. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.24. The business has a 50-day simple moving average of $371.73 and a two-hundred day simple moving average of $333.89. Affiliated Managers Group has a 12 month low of $246.11 and a 12 month high of $400.13. The company has a market capitalization of $9.89 billion, a price-to-earnings ratio of 13.25, a P/E/G ratio of 0.46 and a beta of 1.05.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, November 9th. The asset manager reported $9.50 earnings per share for the quarter, beating analysts’ consensus estimates of $8.79 by $0.71. The business had revenue of $595.20 million for the quarter, compared to analysts’ expectations of $655.08 million. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.10 EPS. As a group, equities research analysts expect that Affiliated Managers Group will post 36.87 EPS for the current year.

Institutional Trading of Affiliated Managers Group

Several institutional investors and hedge funds have recently modified their holdings of AMG. BlackRock Inc. purchased a new stake in Affiliated Managers Group during the 2nd quarter valued at about $938,294,000. Dimensional Fund Advisors LP raised its holdings in Affiliated Managers Group by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 718,313 shares of the asset manager’s stock worth $198,746,000 after buying an additional 18,865 shares during the last quarter. Bank of America Corp DE purchased a new position in Affiliated Managers Group in the second quarter worth about $146,331,000. Bank of New York Mellon Corp lifted its stake in shares of Affiliated Managers Group by 21.5% in the first quarter. Bank of New York Mellon Corp now owns 300,265 shares of the asset manager’s stock worth $83,083,000 after buying an additional 53,076 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Affiliated Managers Group by 7.6% during the third quarter. Fisher Asset Management LLC now owns 265,281 shares of the asset manager’s stock valued at $96,989,000 after buying an additional 18,818 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

About Affiliated Managers Group

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management company that partners with independent investment firms. Founded in 1993, AMG provides its partner firms with strategic capital, distribution support and business resources while allowing them to retain substantial independence over their investment processes and operations.

Through its partner firms, AMG offers a range of investment strategies and services, including alternative investments, equities, fixed income, private markets and wealth management.