Affiliated Managers Group, Inc. (AMG) To Go Ex-Dividend on February 14th

Affiliated Managers Group, Inc. (NYSE:AMGGet Free Report) announced a quarterly dividend on Monday, February 5th, Zacks reports. Stockholders of record on Thursday, February 15th will be paid a dividend of 0.01 per share by the asset manager on Thursday, February 29th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Wednesday, February 14th.

Affiliated Managers Group has decreased its dividend by an average of 51.5% per year over the last three years. 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 $20.88 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 Trading Down 1.8 %

Shares of AMG stock opened at $154.11 on Wednesday. Affiliated Managers Group has a 1-year low of $120.22 and a 1-year high of $172.56. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of 5.21, a P/E/G ratio of 0.79 and a beta of 1.31. The stock’s fifty day simple moving average is $147.85 and its 200-day simple moving average is $137.85.

Affiliated Managers Group (NYSE:AMGGet Free Report) last issued its quarterly earnings results on Monday, February 5th. The asset manager reported $6.86 earnings per share for the quarter, beating analysts’ consensus estimates of $6.03 by $0.83. Affiliated Managers Group had a return on equity of 17.65% and a net margin of 59.89%. The business had revenue of $502.70 million for the quarter, compared to the consensus estimate of $524.98 million. During the same quarter in the previous year, the company posted $7.28 earnings per share. Affiliated Managers Group’s revenue for the quarter was down 6.8% compared to the same quarter last year. On average, sell-side analysts predict that Affiliated Managers Group will post 18.7 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on AMG. Jefferies Financial Group lowered their target price on Affiliated Managers Group from $164.00 to $157.00 in a research note on Tuesday, October 10th. Barrington Research upped their price target on Affiliated Managers Group from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 16th. Deutsche Bank Aktiengesellschaft decreased their price target on Affiliated Managers Group from $150.00 to $148.00 and set a “buy” rating for the company in a research note on Wednesday, October 11th. StockNews.com upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Friday, October 20th. Finally, TD Cowen initiated coverage on Affiliated Managers Group in a research note on Thursday, January 4th. They set an “outperform” rating and a $185.00 price target for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Affiliated Managers Group currently has an average rating of “Moderate Buy” and a consensus price target of $168.20.

Check Out Our Latest Analysis on AMG

Hedge Funds Weigh In On Affiliated Managers Group

Large investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC raised its holdings in Affiliated Managers Group by 76.3% in the 1st quarter. Lazard Asset Management LLC now owns 275 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 119 shares in the last quarter. First Capital Advisors Group LLC. acquired a new position in Affiliated Managers Group in the 2nd quarter valued at approximately $44,000. Quarry LP raised its holdings in Affiliated Managers Group by 1,193.3% in the 1st quarter. Quarry LP now owns 388 shares of the asset manager’s stock valued at $55,000 after acquiring an additional 358 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Affiliated Managers Group by 428.9% in the 1st quarter. NewEdge Advisors LLC now owns 513 shares of the asset manager’s stock valued at $73,000 after acquiring an additional 416 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Affiliated Managers Group by 39.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 724 shares of the asset manager’s stock valued at $113,000 after purchasing an additional 203 shares during the period. Institutional investors and hedge funds own 92.89% of the company’s stock.

Affiliated Managers Group Company Profile

(Get Free Report)

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.

See Also

Dividend History for Affiliated Managers Group (NYSE:AMG)

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