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

Affiliated Managers Group, Inc. (NYSE:AMG) declared a quarterly dividend on Monday, November 3rd. Investors 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) annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend 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% meaning its dividend is sufficiently covered by earnings. Research 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 Up 7.8%

Shares of AMG stock opened at $256.47 on Tuesday. Affiliated Managers Group has a 12-month low of $139.22 and a 12-month high of $256.81. The company has a market capitalization of $7.29 billion, a P/E ratio of 18.72, a P/E/G ratio of 0.61 and a beta of 1.21. The firm has a 50-day moving average price of $236.71 and a 200 day moving average price of $207.77.

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, beating the consensus estimate of $5.88 by $0.22. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. The firm had revenue of $528.00 million during the quarter, compared to the consensus estimate of $543.39 million. During the same period last year, the firm posted $4.82 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, research analysts expect that Affiliated Managers Group will post 22.86 earnings per share for the current year.

Insider Buying and Selling at Affiliated Managers Group

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 16,000 shares of the business’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $231.03, for a total value of $3,696,480.00. Following the completion of the transaction, the chief operating officer directly owned 158,710 shares of the company’s stock, valued at approximately $36,666,771.30. The trade was a 9.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Affiliated Managers Group

Institutional investors have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Affiliated Managers Group by 428.0% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock worth $26,000 after buying an additional 107 shares during the period. Root Financial Partners LLC acquired a new stake in shares of Affiliated Managers Group during the 3rd quarter worth approximately $33,000. Meeder Asset Management Inc. acquired a new stake in shares of Affiliated Managers Group during the 3rd quarter worth approximately $34,000. Millstone Evans Group LLC grew its position in shares of Affiliated Managers Group by 154.5% during the 1st quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager’s stock worth $28,000 after buying an additional 102 shares during the period. Finally, Global Retirement Partners LLC grew its position in shares of Affiliated Managers Group by 1,237.5% during the 3rd quarter. Global Retirement Partners LLC now owns 214 shares of the asset manager’s stock worth $51,000 after buying an additional 198 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, 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.