Affiliated Managers Group, Inc. (AMG) to Distribute Quarterly Dividend of $0.01 on August 24th

Affiliated Managers Group, Inc. (NYSE:AMG) announced a quarterly dividend on Monday, July 20th. Investors of record on Monday, August 10th will be paid a dividend of 0.01 per share by the asset manager on Monday, August 24th. This represents a c) dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date is Monday, August 10th.

Affiliated Managers Group has decreased its dividend by an average of 0.4%per year over the last three years. Affiliated Managers Group has a payout ratio of 0.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Affiliated Managers Group to earn $40.98 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 Price Performance

Shares of AMG stock opened at $369.34 on Friday. The firm has a fifty day moving average of $353.04 and a 200-day moving average of $317.06. Affiliated Managers Group has a 12-month low of $210.87 and a 12-month high of $392.92. The firm has a market capitalization of $9.75 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 0.53 and a beta of 1.11. The company has a quick ratio of 1.79, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share for the quarter, topping analysts’ consensus estimates of $7.90 by $0.39. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The business had revenue of $640.70 million for the quarter, compared to the consensus estimate of $590.94 million. During the same period in the previous year, the company earned $5.39 earnings per share. The firm’s revenue for the quarter was up .0% on a year-over-year basis. On average, equities research analysts forecast that Affiliated Managers Group will post 36.25 earnings per share for the current year.

Insider Transactions at Affiliated Managers Group

In other Affiliated Managers Group news, Director Annette Franqui bought 750 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was bought at an average cost of $304.88 per share, for a total transaction of $228,660.00. Following the completion of the transaction, the director owned 1,962 shares of the company’s stock, valued at $598,174.56. This represents a 61.88% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jay C. Horgen sold 17,500 shares of Affiliated Managers Group stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $338.27, for a total transaction of $5,919,725.00. Following the sale, the chief executive officer owned 204,706 shares in the company, valued at approximately $69,245,898.62. The trade was a 7.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Affiliated Managers Group

Several institutional investors have recently bought and sold shares of AMG. N.E.W. Advisory Services LLC purchased a new position in shares of Affiliated Managers Group in the second quarter worth $25,000. Leonteq Securities AG purchased a new position in Affiliated Managers Group in the fourth quarter valued at $30,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Affiliated Managers Group in the 2nd quarter worth about $48,000. Caitong International Asset Management Co. Ltd acquired a new stake in Affiliated Managers Group in the 4th quarter valued at $42,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Affiliated Managers Group by 45.5% in the first quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager’s stock valued at $50,000 after purchasing an additional 56 shares during the period. 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 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.