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

Affiliated Managers Group, Inc. (NYSE:AMG) announced a quarterly dividend on Monday, November 3rd. Investors of record on Thursday, November 13th will be given a dividend of 0.01 per share by the asset manager on Friday, November 28th. This represents a c) annualized dividend 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%per year 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. 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

AMG stock traded up $18.51 during midday trading on Monday, reaching $256.47. 698,666 shares of the company’s stock traded hands, compared to its average volume of 223,974. The company has a market capitalization of $7.29 billion, a P/E ratio of 18.72, a PEG ratio of 0.61 and a beta of 1.21. Affiliated Managers Group has a fifty-two week low of $139.22 and a fifty-two week high of $256.81. The business has a 50-day moving average price of $236.07 and a two-hundred day moving average price of $207.06.

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

Insiders Place Their Bets

In other news, COO Thomas M. Wojcik sold 16,000 shares of the company’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $231.03, for a total transaction of $3,696,480.00. Following the completion of the transaction, the chief operating officer owned 158,710 shares in the company, valued at approximately $36,666,771.30. This represents a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Affiliated Managers Group

Institutional investors have recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Affiliated Managers Group by 428.0% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock worth $26,000 after acquiring an additional 107 shares during the last quarter. Millstone Evans Group LLC lifted its holdings in Affiliated Managers Group by 154.5% in the first quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager’s stock worth $28,000 after purchasing an additional 102 shares during the period. Root Financial Partners LLC acquired a new stake in Affiliated Managers Group in the third quarter worth about $33,000. Meeder Asset Management Inc. acquired a new stake in Affiliated Managers Group in the third quarter worth about $34,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Affiliated Managers Group in the first quarter worth about $36,000. Institutional investors own 95.30% of the company’s stock.

About Affiliated Managers Group

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.