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

Affiliated Managers Group, Inc. (NYSE:AMGGet Free Report) announced a quarterly dividend on Monday, February 5th, Zacks reports. Stockholders 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 dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, February 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. Research 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 Performance

Shares of NYSE:AMG opened at $155.89 on Monday. The company has a market cap of $5.27 billion, a P/E ratio of 8.99, a P/E/G ratio of 0.57 and a beta of 1.31. The stock’s 50-day moving average is $149.03 and its 200-day moving average is $137.84. 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 released its earnings results on Monday, February 5th. The asset manager reported $6.86 earnings per share for the quarter, beating the consensus estimate of $6.03 by $0.83. Affiliated Managers Group had a net margin of 32.71% and a return on equity of 16.29%. The business had revenue of $502.70 million during the quarter, compared to analysts’ expectations of $524.98 million. During the same quarter last year, the company earned $7.28 earnings per share. The firm’s revenue was down 6.8% on a year-over-year basis. As a group, equities analysts predict that Affiliated Managers Group will post 21.19 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mariner LLC boosted its position in shares of Affiliated Managers Group by 5.0% during the fourth quarter. Mariner LLC now owns 2,164 shares of the asset manager’s stock worth $343,000 after purchasing an additional 103 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of Affiliated Managers Group by 76.3% during the first quarter. Lazard Asset Management LLC now owns 275 shares of the asset manager’s stock worth $38,000 after purchasing an additional 119 shares in the last quarter. Raymond James Trust N.A. boosted its position in shares of Affiliated Managers Group by 1.6% during the second quarter. Raymond James Trust N.A. now owns 8,110 shares of the asset manager’s stock worth $1,216,000 after purchasing an additional 127 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Affiliated Managers Group by 18.4% during the first quarter. Captrust Financial Advisors now owns 978 shares of the asset manager’s stock worth $138,000 after purchasing an additional 152 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in Affiliated Managers Group by 8.1% in the 1st quarter. Cetera Investment Advisers now owns 2,173 shares of the asset manager’s stock worth $310,000 after purchasing an additional 162 shares during the period. Institutional investors own 92.89% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AMG shares. Barrington Research increased their target price on shares of Affiliated Managers Group from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, January 16th. StockNews.com upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Friday, October 20th. Finally, TD Cowen began coverage on shares of Affiliated Managers Group in a research note on Thursday, January 4th. They issued an “outperform” rating and a $185.00 target price for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $168.20.

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About Affiliated Managers Group

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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.

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Dividend History for Affiliated Managers Group (NYSE:AMG)

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