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

Affiliated Managers Group, Inc. (NYSE:AMG) declared a quarterly dividend on Monday, May 6th, Zacks reports. Shareholders of record on Thursday, May 16th will be given a dividend of 0.01 per share by the asset manager on Thursday, May 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Wednesday, May 15th.

Affiliated Managers Group has decreased its dividend payment by an average of 51.5% per year over the last three years. Affiliated Managers Group has a payout ratio of 0.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Affiliated Managers Group to earn $24.66 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 traded up $0.46 during trading hours on Tuesday, reaching $157.69. The company’s stock had a trading volume of 46,114 shares, compared to its average volume of 242,129. The stock has a market cap of $5.12 billion, a PE ratio of 8.99, a P/E/G ratio of 0.56 and a beta of 1.31. Affiliated Managers Group has a fifty-two week low of $120.22 and a fifty-two week high of $169.65. The business’s 50-day moving average is $161.53 and its 200-day moving average is $149.78.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, May 6th. The asset manager reported $5.37 earnings per share for the quarter, beating the consensus estimate of $5.21 by $0.16. Affiliated Managers Group had a net margin of 32.71% and a return on equity of 16.29%. During the same period in the prior year, the firm posted $4.18 earnings per share. Analysts expect that Affiliated Managers Group will post 22.03 EPS for the current year.

Analysts Set New Price Targets

Separately, Barrington Research reissued an “outperform” rating and set a $190.00 target price on shares of Affiliated Managers Group in a research note on Tuesday.

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.