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

Affiliated Managers Group, Inc. (NYSE:AMG) announced a quarterly dividend on Thursday, February 12th. Investors of record on Monday, February 23rd will be given a dividend of 0.01 per share by the asset manager on Monday, March 9th. This represents a c) annualized dividend and a yield of 0.0%. The ex-dividend date is Monday, February 23rd.

Affiliated Managers Group has decreased its dividend by an average of 0.5%annually over the last three years. Affiliated Managers Group has a payout ratio of 0.2% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Affiliated Managers Group stock traded up $0.20 during trading hours on Friday, reaching $329.15. 453,317 shares of the stock were exchanged, compared to its average volume of 428,920. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56. Affiliated Managers Group has a twelve month low of $139.22 and a twelve month high of $333.99. The company has a market cap of $9.26 billion, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 0.57 and a beta of 1.21. The stock has a 50 day moving average of $300.35 and a two-hundred day moving average of $259.62.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Thursday, February 12th. The asset manager reported $9.48 EPS for the quarter, beating the consensus estimate of $8.75 by $0.73. The company had revenue of $556.60 million during the quarter, compared to analysts’ expectations of $578.54 million. Affiliated Managers Group had a net margin of 26.01% and a return on equity of 16.75%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company earned $6.53 EPS. Equities analysts expect that Affiliated Managers Group will post 22.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Affiliated Managers Group

Several hedge funds have recently added to or reduced their stakes in AMG. Carrera Capital Advisors acquired a new stake in Affiliated Managers Group in the third quarter valued at $4,295,000. Allianz Asset Management GmbH grew its position in shares of Affiliated Managers Group by 14.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 393,161 shares of the asset manager’s stock valued at $93,741,000 after buying an additional 50,219 shares during the last quarter. Oliver Luxxe Assets LLC bought a new stake in shares of Affiliated Managers Group in the 3rd quarter valued at about $2,673,000. Cullen Frost Bankers Inc. increased its stake in shares of Affiliated Managers Group by 79.4% in the second quarter. Cullen Frost Bankers Inc. now owns 601 shares of the asset manager’s stock valued at $118,000 after buying an additional 266 shares during the period. Finally, Atlanta Consulting Group Advisors LLC bought a new position in shares of Affiliated Managers Group during the second quarter worth about $226,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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.