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 9th, Wall Street Journal reports. Investors of record on Monday, May 19th will be paid a dividend of 0.01 per share by the asset manager on Monday, June 2nd. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date is Monday, May 19th.

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 Stock Down 0.9 %

AMG stock opened at $179.56 on Friday. The company has a market cap of $5.17 billion, a price-to-earnings ratio of 11.89, a P/E/G ratio of 0.57 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.13 and a current ratio of 2.13. The business’s 50-day moving average is $163.23 and its two-hundred day moving average is $176.01. Affiliated Managers Group has a fifty-two week low of $139.22 and a fifty-two week high of $199.52.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Thursday, May 8th. The asset manager reported $5.20 earnings per share for the quarter, topping the consensus estimate of $5.10 by $0.10. Affiliated Managers Group had a net margin of 25.06% and a return on equity of 16.17%. The firm had revenue of $496.60 million for the quarter, compared to analysts’ expectations of $508.00 million. During the same quarter in the prior year, the business earned $5.37 EPS. As a group, analysts forecast that Affiliated Managers Group will post 22.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMG. StockNews.com upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Bank of America cut their target price on Affiliated Managers Group from $211.00 to $195.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Barrington Research lowered their price target on Affiliated Managers Group from $215.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. Finally, TD Cowen cut their price objective on shares of Affiliated Managers Group from $187.00 to $168.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Affiliated Managers Group presently has a consensus rating of “Moderate Buy” and an average price target of $192.40.

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.