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

Affiliated Managers Group, Inc. (NYSE:AMG) announced a quarterly dividend on Friday, May 1st. Investors of record on Monday, May 11th will be given a dividend of 0.01 per share by the asset manager on Tuesday, May 26th. This represents a c) annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend is Monday, May 11th.

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 payout ratio of 0.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Affiliated Managers Group to earn $37.36 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 Down 1.5%

AMG stock traded down $4.54 during trading on Friday, hitting $290.13. 561,234 shares of the company’s stock were exchanged, compared to its average volume of 401,039. The business has a 50-day moving average price of $287.02 and a two-hundred day moving average price of $283.59. The stock has a market capitalization of $7.70 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 0.49 and a beta of 1.20. Affiliated Managers Group has a 52-week low of $169.00 and a 52-week high of $334.78. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share for the quarter, topping the consensus estimate of $8.10 by $0.13. Affiliated Managers Group had a return on equity of 18.45% and a net margin of 34.55%.The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.37 earnings per share. As a group, equities research analysts expect that Affiliated Managers Group will post 32.95 EPS for the current year.

Insider Activity at Affiliated Managers Group

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 8,000 shares of Affiliated Managers Group stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $286.30, for a total transaction of $2,290,400.00. Following the transaction, the chief operating officer owned 159,465 shares of the company’s stock, valued at $45,654,829.50. The trade was a 4.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Kavita Padiyar sold 2,200 shares of Affiliated Managers Group stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $278.24, for a total value of $612,128.00. Following the transaction, the general counsel directly owned 42,672 shares in the company, valued at approximately $11,873,057.28. This trade represents a 4.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of AMG. Leonteq Securities AG acquired a new position in shares of Affiliated Managers Group in the fourth quarter valued at approximately $30,000. Root Financial Partners LLC acquired a new position in shares of Affiliated Managers Group in the third quarter valued at approximately $33,000. Meeder Asset Management Inc. acquired a new position in shares of Affiliated Managers Group in the third quarter valued at approximately $34,000. Hantz Financial Services Inc. increased its holdings in shares of Affiliated Managers Group by 189.8% in the third quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 93 shares during the period. Finally, Millstone Evans Group LLC increased its holdings in shares of Affiliated Managers Group by 41.9% in the third quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock valued at $42,000 after purchasing an additional 52 shares during the period. Institutional investors and hedge funds 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.