Affiliated Managers Group, Inc. (AMG) to Issue Quarterly Dividend of $0.01 on November 28th

Affiliated Managers Group, Inc. (NYSE:AMG) announced a quarterly dividend on Monday, November 3rd. Stockholders of record on Thursday, November 13th will be paid a dividend of 0.01 per share by the asset manager on Friday, November 28th. This represents a c) dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date is Thursday, November 13th.

Affiliated Managers Group has decreased its dividend payment by an average of 0.5%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 analysts expect Affiliated Managers Group to earn $25.76 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 Price Performance

Shares of NYSE AMG opened at $251.78 on Wednesday. The company has a 50 day simple moving average of $237.21 and a 200-day simple moving average of $208.44. The company has a market capitalization of $7.15 billion, a P/E ratio of 18.38, a P/E/G ratio of 0.61 and a beta of 1.25. Affiliated Managers Group has a 1 year low of $139.22 and a 1 year high of $256.81.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, November 3rd. The asset manager reported $6.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.88 by $0.22. The business had revenue of $528.00 million during the quarter, compared to the consensus estimate of $543.39 million. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $4.82 EPS. As a group, research analysts expect that Affiliated Managers Group will post 22.86 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on AMG shares. Wall Street Zen cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. TD Cowen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $214.00 to $255.00 in a research report on Monday, August 4th. Bank of America raised their price target on Affiliated Managers Group to $335.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. UBS Group set a $295.00 price target on Affiliated Managers Group in a research report on Tuesday. Finally, Cowen restated a “buy” rating on shares of Affiliated Managers Group in a research report on Tuesday. Eight equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Affiliated Managers Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.57.

Affiliated Managers Group Company Profile

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.