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

Key Points

• Affiliated Managers Group declared a quarterly dividend of $0.01 per share, payable August 24 to shareholders of record as of August 10. The dividend is well covered by earnings, with a reported payout ratio of 0.2%.
• AMG reported quarterly earnings of $8.29 per share, exceeding analysts’ $7.90 estimate by $0.39. Shares rose 2.0% to $367.17 during Thursday trading.
• Company insiders sold 21,902 shares worth approximately $7.26 million over the past 90 days, while institutional investors and hedge funds own 95.3% of AMG’s outstanding stock.

Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report) announced a quarterly dividend on Thursday, July 30th. Stockholders of record on Monday, August 10th will be given a dividend of 0.01 per share by the asset manager on Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend is Monday, August 10th.

Affiliated Managers Group has decreased its dividend payment by an average of 0.4%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 analysts expect Affiliated Managers Group to earn $40.00 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 0.1%.

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Affiliated Managers Group Trading Up 2.0%

AMG traded up $7.10 during trading hours on Thursday, reaching $367.17. The company's stock had a trading volume of 321,409 shares, compared to its average volume of 364,226. Affiliated Managers Group has a fifty-two week low of $200.00 and a fifty-two week high of $382.75. The stock has a market cap of $9.70 billion, a PE ratio of 14.85, a P/E/G ratio of 0.57 and a beta of 1.12. The business's 50-day moving average is $343.28 and its 200-day moving average is $314.19. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.79.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 earnings per share for the quarter, topping the consensus estimate of $7.90 by $0.39. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.The firm's revenue for the quarter was up .0% on a year-over-year basis. During the same period last year, the business earned $5.39 earnings per share. As a group, equities research analysts predict that Affiliated Managers Group will post 35.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Affiliated Managers Group

In other news, Director Rodriguez Felix V. Matos sold 1,000 shares of Affiliated Managers Group stock in a transaction on Friday, May 8th. The stock was sold at an average price of $300.18, for a total value of $300,180.00. Following the completion of the sale, the director directly owned 4,369 shares of the company's stock, valued at approximately $1,311,486.42. The trade was a 18.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jay C. Horgen sold 17,500 shares of the business's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $338.27, for a total value of $5,919,725.00. Following the completion of the sale, the chief executive officer owned 204,706 shares in the company, valued at $69,245,898.62. This represents a 7.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 21,902 shares of company stock valued at $7,257,719. Corporate insiders own 2.90% of the company's stock.

Institutional Trading of Affiliated Managers Group

Hedge funds have recently made changes to their positions in the business. Leonteq Securities AG acquired a new position in shares of Affiliated Managers Group in the fourth quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Affiliated Managers Group in the fourth quarter worth $42,000. EverSource Wealth Advisors LLC increased its position in shares of Affiliated Managers Group by 45.5% during the first quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager's stock worth $50,000 after acquiring an additional 56 shares during the period. Arax Advisory Partners raised its stake in shares of Affiliated Managers Group by 94.1% in the fourth quarter. Arax Advisory Partners now owns 198 shares of the asset manager's stock valued at $57,000 after acquiring an additional 96 shares in the last quarter. Finally, WealthCollab LLC boosted its holdings in Affiliated Managers Group by 40.5% in the first quarter. WealthCollab LLC now owns 229 shares of the asset manager's stock valued at $63,000 after purchasing an additional 66 shares during the period. Institutional investors and hedge funds own 95.30% of the company's stock.

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.

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