Affiliated Managers Group, Inc. (AMG) To Go Ex-Dividend on May 15th

Affiliated Managers Group, Inc. (NYSE:AMG) announced a quarterly dividend on Monday, May 6th, Zacks reports. Stockholders 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 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, May 15th.

Affiliated Managers Group has decreased its dividend by an average of 51.5% annually over the last three years. Affiliated Managers Group has a payout ratio of 0.2% meaning its dividend is sufficiently covered by earnings. 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

Shares of NYSE AMG opened at $155.55 on Wednesday. The stock has a fifty day moving average price of $161.50 and a 200 day moving average price of $150.00. Affiliated Managers Group has a 1-year low of $120.22 and a 1-year high of $169.65. The company has a market cap of $5.05 billion, a PE ratio of 8.97, a P/E/G ratio of 0.56 and a beta of 1.31.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, May 6th. The asset manager reported $5.37 earnings per share for the quarter, topping the consensus estimate of $5.21 by $0.16. Affiliated Managers Group had a return on equity of 16.29% and a net margin of 32.71%. The firm had revenue of $499.90 million during the quarter, compared to the consensus estimate of $524.53 million. During the same period last year, the company earned $4.18 earnings per share. Analysts anticipate that Affiliated Managers Group will post 22.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on AMG. TD Cowen cut their price objective on Affiliated Managers Group from $218.00 to $198.00 and set a “buy” rating for the company in a research report on Tuesday. Barrington Research reiterated an “outperform” rating and issued a $190.00 price objective on shares of Affiliated Managers Group in a research report on Tuesday.

Affiliated Managers Group Company Profile

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.