Conference Call Scheduled for 8:30 a.m. Eastern Time WEST PALM BEACH, Fla., July 22, 2024 (GLOBE NEWSWIRE) -- AMG (NYSE:AMG) will report financial and operating results for the second quarter ended June 30, 2024 on Monday, July 29, 2024. A conference call will be held at 8:30 a.m. Eastern time on the same day.        In addition to quarterly results, the conference call may include discussion of management's expectations of future financial and operating results. Jay C. Horgen, President and Chief Executive ...

Conference Call Scheduled for 8:30 a.m. Eastern Time WEST PALM BEACH, Fla., July 22, 2024 (GLOBE NEWSWIRE) -- AMG (NYSE: AMG) will report financial and operating results for the second quarter ended June 30, 2024 on Monday, July 29, 2024. A conference call will be held at 8:30 a.m. Eastern time on the same day.        In addition to quarterly results, the conference call may include discussion of management’s expectations of future financial and operating results. Jay C. Horgen, President and Chief Executiv ...

Affiliated Managers Group (AMG) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they miss, th ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Affiliated Managers Group (AMG) , which belongs to the Zacks Financial - Investment Management industry, could be a great candidate to consider.When looking at the last two reports, this asset manager has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 8.70%, on average, in the last two quarters.For the mo ...

Affiliated Managers Group, Inc. (AMG) has acquired a minority equity interest in Suma Capital. The terms of the transaction have not been disclosed yet.With this partnership, AMG will be in a position to further expand its business toward secular growth areas. The transaction marks AMG’s ninth private markets affiliate.Suma Capital is a pan-European private markets firm that invests in the transition to a lower-carbon economy, a sector with increasing client allocations and deployment opportunities across E ...

WEST PALM BEACH, Fla., May 16, 2024 (GLOBE NEWSWIRE) -- AMG, a leading partner to independent investment management firms globally, today announced that it acquired a minority equity interest in Suma Capital ("Suma"). Suma is a pan-European private markets firm that invests in the transition to a lower carbon economy, a sector with increasing client allocations and deployment opportunities across Europe. Led by co-founders Enrique Tombas, David Arroyo, and Pablo Muller, Suma has approximately $800 million i ...

WEST PALM BEACH, Fla., May 16, 2024 (GLOBE NEWSWIRE) -- AMG, a leading partner to independent investment management firms globally, today announced that it acquired a minority equity interest in Suma Capital (“Suma”). Suma is a pan-European private markets firm that invests in the transition to a lower carbon economy, a sector with increasing client allocations and deployment opportunities across Europe. Led by co-founders Enrique Tombas, David Arroyo, and Pablo Muller, Suma has approximately $800 million i ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-13459 AFFILIATED MANAGERS GROUP, INC. (Exact name of registrant as specified in its charter) Delaware 04-3218510 ...

Financial Data and Key Metrics Changes - AMG reported adjusted EBITDA of $260 million for Q1 2024, representing a 20% year-over-year growth, with economic earnings per share of $5.37, reflecting a 28% increase year-over-year [4][18][22] - The company experienced net client cash outflows of $4 billion, primarily due to strong fundraising in private markets, offset by outflows in fundamental equities [19][21] Business Line Data and Key Metrics Changes - In private markets, AMG's affiliates managed approximately $120 billion in client assets, with strong fundraising driven by strategies in infrastructure, private credit, and private equity [20][21] - Liquid alternatives saw nearly $5 billion in net inflows, supported by outstanding investment performance and demand for strategies including private credit and infrastructure [19][21] - Differentiated long-only strategies faced net outflows of approximately $10 billion in equities but generated inflows of $2 billion in multi-asset strategies [21] Market Data and Key Metrics Changes - AMG's business profile has evolved, with over half of earnings now coming from alternative strategies, a significant shift from a focus on long-only strategies [12][59] - The company has diversified its portfolio, with a majority contribution from alternatives, enhancing earning stability and growth potential [12][14] Company Strategy and Development Direction - AMG's strategy focuses on investing in high-growth areas, particularly alternatives, while maintaining the independence of its affiliates [14][39] - The company aims to increase its level of new investment activity, particularly in alternatives, while also returning excess capital to shareholders [14][23] - AMG's vertically integrated U.S. wealth platform is designed to help affiliates access the growing wealth market, enhancing their distribution capabilities [25][70] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued strength of private markets and the potential for organic growth driven by the evolving business mix towards alternatives [30][34] - The company anticipates a strong demand for liquid alternatives, with expectations for performance fees to increase as a significant portion of assets under management is above high watermarks [44][49] Other Important Information - AMG's balance sheet remains strong, with significant liquidity to support growth investments and share repurchases, expecting to repurchase at least $450 million in shares for the full year 2024 [23][24] - The company plans to invest up to $100 million in seed capital for new alternative products in 2024 [24] Q&A Session Summary Question: Insights on institutional channel net flows - Management noted strong fundraising in private markets and stability in liquid alternatives, contributing to positive flows in the institutional channel [30][32] Question: Capital allocation strategy for 2024 and 2025 - AMG's strategy is to prioritize investments in high-growth areas while returning excess capital to shareholders when suitable investment opportunities are not available [36][38] Question: Trends in liquid alternatives and performance fees - Management highlighted excellent investment performance in liquid alternatives, with expectations for increased performance fee earnings due to strong client demand [44][46] Question: Confidence in private markets fundraising - Management expressed confidence in the sales pipeline for private markets, driven by the success of existing affiliates and the addition of new affiliates [52][54] Question: Competitive dynamics in the wealth channel - AMG's vertically integrated approach and established relationships in the wealth market position the company well to capitalize on demand for independent partner-owned firms [70][73]

Affiliated Managers Group Inc.’s (AMG) first-quarter 2024 economic earnings of $5.37 per share handily outpaced the Zacks Consensus Estimate of $5.21. The bottom line also jumped 28.5% from the prior-year number.Results were aided by improvement in assets under management (AUM) balance. Further, the company had a robust liquidity position. However, a decline in revenues and slightly higher expenses were the undermining factors.Economic net income was $186.7 million, up 18.1% year over year. Our estimate for ...