Affiliated Managers Group, Inc. (NYSE:AMG) declared a quarterly dividend on Monday, July 29th, NASDAQ reports. Investors of record on Thursday, August 8th will be given a dividend of 0.32 per share by the asset manager on Thursday, August 22nd. This represents a $1.28 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Wednesday, August 7th.
Affiliated Managers Group has a dividend payout ratio of 8.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Affiliated Managers Group to earn $15.05 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 8.5%.
Affiliated Managers Group stock traded down $0.81 during midday trading on Wednesday, reaching $85.97. The stock had a trading volume of 39,790 shares, compared to its average volume of 401,700. The firm has a fifty day moving average of $89.35. Affiliated Managers Group has a twelve month low of $83.10 and a twelve month high of $163.55. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 5.93, a price-to-earnings-growth ratio of 0.66 and a beta of 1.63.
A number of equities research analysts have issued reports on the stock. Barrington Research decreased their target price on shares of Affiliated Managers Group from $135.00 to $125.00 and set an “outperform” rating for the company in a research note on Monday. Zacks Investment Research lowered shares of Haynes International from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. Deutsche Bank set a €230.00 ($267.44) target price on shares of adidas and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Bank of America lifted their target price on shares of Tc Pipelines from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Citigroup lifted their price objective on shares of Visteon from $58.00 to $69.00 and gave the company a “neutral” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Affiliated Managers Group has an average rating of “Hold” and a consensus target price of $109.84.
In related news, Director Jide James Zeitlin sold 54,350 shares of Affiliated Managers Group stock in a transaction on Friday, June 28th. The shares were sold at an average price of $92.22, for a total value of $5,012,157.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jay C. Horgen bought 11,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was purchased at an average price of $93.19 per share, for a total transaction of $1,025,090.00. Following the acquisition, the insider now directly owns 115,527 shares in the company, valued at $10,765,961.13. The disclosure for this purchase can be found here. 1.43% of the stock is currently owned by insiders.
About Affiliated Managers Group
Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.
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