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

Affiliated Managers Group, Inc. (NYSE:AMG) announced a quarterly dividend on Monday, November 9th. Stockholders of record on Thursday, November 19th will be paid a dividend of $0.01 per share by the asset manager on Thursday, December 3rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date is Thursday, November 19th.

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. Equities analysts expect Affiliated Managers Group to earn $42.17 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 Performance

AMG stock traded up $19.45 on Monday, hitting $382.41. The company had a trading volume of 615,398 shares, compared to its average volume of 340,063. Affiliated Managers Group has a 12-month low of $246.11 and a 12-month high of $400.13. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.76. The stock’s 50-day simple moving average is $371.73 and its 200 day simple moving average is $333.89. The stock has a market cap of $9.89 billion, a price-to-earnings ratio of 13.25, a P/E/G ratio of 0.46 and a beta of 1.05.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, November 9th. The asset manager reported $9.50 earnings per share for the quarter, beating analysts’ consensus estimates of $8.79 by $0.71. The business had revenue of $595.20 million during the quarter, compared to analyst estimates of $655.08 million. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the business earned $6.10 EPS. As a group, equities research analysts expect that Affiliated Managers Group will post 36.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Affiliated Managers Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Affiliated Managers Group during the second quarter worth $938,294,000. Dimensional Fund Advisors LP raised its position in Affiliated Managers Group by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 718,313 shares of the asset manager’s stock valued at $198,746,000 after purchasing an additional 18,865 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Affiliated Managers Group during the second quarter worth approximately $146,331,000. Fisher Asset Management LLC lifted its position in shares of Affiliated Managers Group by 7.6% during the 3rd quarter. Fisher Asset Management LLC now owns 265,281 shares of the asset manager’s stock worth $96,989,000 after purchasing an additional 18,818 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Affiliated Managers Group in the second quarter valued at approximately $95,418,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management company that partners with independent investment firms. Founded in 1993, AMG provides its partner firms with strategic capital, distribution support and business resources while allowing them to retain substantial independence over their investment processes and operations.

Through its partner firms, AMG offers a range of investment strategies and services, including alternative investments, equities, fixed income, private markets and wealth management.