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

Key Points

• Affiliated Managers Group announced a quarterly dividend of $0.01 per share (record date May 11, payable May 26), implying a $0.04 annual payout with an effectively near-0% yield and a very low payout ratio (~0.2%), which analysts expect earnings to comfortably cover.
• The company beat quarterly expectations with $8.23 EPS vs. $8.10 est. and revenue up 9.7% year-over-year, while shares traded down ~1.5% to $290.13; valuation metrics include a market cap of $7.7B and a P/E of ~12.6.
• Sell-side sentiment is positive: the consensus is a Moderate Buy with an average price target of $360.14 and individual targets from around $300 up to $408.

Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report) announced a quarterly dividend on Friday, May 1st. Investors of record on Monday, May 11th will be paid a dividend of 0.01 per share by the asset manager on Tuesday, May 26th. This represents a c) dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend is Monday, May 11th.

Affiliated Managers Group has decreased its dividend by an average of 0.4%annually 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 $37.36 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%.

Affiliated Managers Group Trading Down 1.5%

Shares of NYSE:AMG traded down $4.54 during midday trading on Friday, reaching $290.13. 561,234 shares of the company's stock were exchanged, compared to its average volume of 401,039. The firm's 50 day simple moving average is $287.02 and its two-hundred day simple moving average is $283.59. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 0.49 and a beta of 1.20. Affiliated Managers Group has a fifty-two week low of $169.00 and a fifty-two week high of $334.78.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share for the quarter, beating the consensus estimate of $8.10 by $0.13. Affiliated Managers Group had a return on equity of 18.45% and a net margin of 34.55%.The business's quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the company posted $5.37 earnings per share. As a group, sell-side analysts forecast that Affiliated Managers Group will post 32.95 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on AMG. Barrington Research reaffirmed an "outperform" rating and issued a $365.00 target price on shares of Affiliated Managers Group in a research report on Monday. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Affiliated Managers Group in a research report on Wednesday, January 21st. The Goldman Sachs Group lifted their target price on Affiliated Managers Group from $300.00 to $341.00 and gave the company a "buy" rating in a research report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft set a $408.00 target price on Affiliated Managers Group and gave the company a "buy" rating in a research report on Friday, February 13th. Finally, TD Cowen reaffirmed a "buy" rating on shares of Affiliated Managers Group in a research report on Thursday, April 9th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Affiliated Managers Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $360.14.

Affiliated Managers Group Company Profile

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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