Affiliated Managers (AMG) AI Stock Analysis

• Market Cap: $6.74B
• Dividend Yield: 0.02%
• Average Volume (3M): 205.17K
• Price to Earnings (P/E): 17.9
• Beta (1Y): 0.90
• Revenue Growth: -5.87%
• EPS Growth: -21.51%
• Country: US
• Employees: 4,100
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 5.39
• Shares Outstanding: 28,412,064
• 10 Day Avg. Volume: 266,510
• 30 Day Avg. Volume: 205,172
• PEG Ratio: -0.79
• Price to Book (P/B): 1.72
• Price to Sales (P/S): 2.82
• P/FCF Ratio: 6.19
• Enterprise Value/Market Cap: 1.44
• Enterprise Value/Revenue: 4.76
• Enterprise Value/Gross Profit: 8.98
• Enterprise Value/Ebitda: 9.27
• 1Y Price Target: $303.00
• Price Target Upside: 27.49% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3

• Rating: 74 Outperform
• Price Target: $259.00 ▲(8.98% Upside)

AMG's overall stock score is driven by strong earnings call performance and positive technical indicators, suggesting bullish momentum. The financial performance shows mixed results with stable leverage but declining revenue and profit margins. Valuation is fair, and recent corporate events, including a dividend announcement, bolster investor confidence.

Positive Factors

Strong Economic Earnings Growth

The significant growth in economic earnings per share and client cash flows indicates robust financial health and effective strategic execution, enhancing long-term value creation.

Increase in Alternative Assets

The substantial increase in alternative assets under management strengthens AMG's market position in high-growth areas, supporting sustained revenue growth and diversification.

New Partnerships and Investments

The formation of new partnerships demonstrates AMG's ability to expand its network and leverage synergies, driving future growth and enhancing competitive advantages.

Negative Factors

Declining Revenue Growth

A declining revenue growth trend poses challenges to maintaining profitability and could hinder AMG's ability to invest in future growth opportunities.

Outflows in Active Equities

Significant outflows in active equities reflect competitive and market challenges, potentially impacting AMG's revenue from traditional investment strategies.

Declining Free Cash Flow Growth

A decline in free cash flow growth can limit AMG's ability to reinvest in business expansion and return capital to shareholders, affecting long-term financial flexibility.

Affiliated Managers Business Overview & Revenue Model

Company Description

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. The company also offers investment products in various investment styles in the institutional distribution channel, including small, small/mid, mid, and large capitalization value and growth equity, and emerging markets. In addition, it offers quantitative, alternative, and fixed income products, and manages assets for foundations and endowments, defined benefit, and defined contribution plans for corporations and municipalities. Affiliated Managers Group provides investment management or customized investment counseling and fiduciary services. Affiliated Managers Group, Inc. was formed in 1993 and is based in West Palm Beach, Florida with additional offices in Prides Crossing, Massachusetts; Stamford, Connecticut; London, United Kingdom; Dubai, United Arab Emirates; Sydney, Australia; Hong Kong; Tokyo, Japan, Zurich, Switzerland and Delaware.

How the Company Makes Money

AMG generates revenue through a variety of channels, primarily by taking a minority equity stake in its affiliated investment firms, which allows it to receive a share of their profits. The company earns management fees based on the assets under management (AUM) of these affiliates, as well as performance fees linked to the investment performance of the funds. Additionally, AMG benefits from distribution and service agreements, where it assists its affiliates in marketing their products, further enhancing its revenue streams. Key partnerships with established asset managers and a growing network of affiliates contribute significantly to AMG's earnings, as the company continues to expand its footprint in the global asset management market.

Affiliated Managers Financial Statement Overview

Summary

Affiliated Managers shows a mixed financial performance. The income statement indicates declining revenue and profit margins, while the balance sheet maintains a stable capital structure with manageable leverage. Cash flow analysis highlights potential challenges with declining free cash flow growth. Overall, the company faces headwinds in revenue and profitability, but maintains a stable financial position.

Income Statement

The income statement shows a decline in revenue growth with a negative trend in the TTM period. Gross profit margin is relatively stable, but net profit margin has decreased compared to previous years. The EBIT and EBITDA margins have also declined, indicating reduced operational efficiency.

Balance Sheet

The balance sheet reflects a moderate debt-to-equity ratio, suggesting manageable leverage. However, the return on equity has decreased over time, indicating reduced profitability for shareholders. The equity ratio remains stable, showing a solid capital structure.

Cash Flow

Cash flow analysis reveals a decline in free cash flow growth, with negative growth in the TTM period. The operating cash flow to net income ratio is strong, indicating good cash generation relative to net income. However, the free cash flow to net income ratio has slightly decreased, reflecting potential cash flow challenges.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.03B	2.04B	2.06B	2.33B	2.41B	2.03B
Gross Profit	1.08B	1.13B	1.15B	1.26B	1.37B	1.14B
EBITDA	1.04B	1.10B	1.28B	1.93B	1.30B	760.30M
Net Income	442.40M	511.60M	672.90M	1.15B	565.70M	202.20M
Balance Sheet
Total Assets	8.81B	8.83B	9.06B	8.88B	8.88B	7.89B
Cash, Cash Equivalents and Short-Term Investments	361.00M	1.01B	1.27B	1.15B	987.00M	1.11B
Total Debt	2.62B	2.62B	2.54B	2.54B	2.49B	2.31B
Total Liabilities	4.33B	4.18B	4.10B	4.24B	4.49B	3.90B
Stockholders Equity	3.24B	3.35B	3.59B	3.23B	2.79B	2.78B
Cash Flow
Free Cash Flow	912.60M	928.70M	861.90M	1.04B	1.25B	1.00B
Operating Cash Flow	917.40M	932.10M	874.30M	1.05B	1.26B	1.01B
Investing Cash Flow	-465.00M	379.10M	264.50M	-109.90M	-583.70M	-53.70M
Financing Cash Flow	-978.20M	-1.18B	-758.30M	-1.40B	-798.30M	-455.40M

Affiliated Managers Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 237.66
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AMG, the sentiment is Positive. The current price of 237.66 is above the 20-day moving average (MA) of 234.99, above the 50-day MA of 223.20, and above the 200-day MA of 188.78, indicating a bullish trend. The MACD of 5.32 indicates Positive momentum. The RSI at 59.97 is Neutral, neither overbought nor oversold. The STOCH value of 33.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AMG.

Affiliated Managers Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JHG	79 Outperform	6.92B	16.71	8.80%	3.56%	17.59%	-8.81%
BX	76 Outperform	218.71B	48.07	34.29%	2.43%	23.08%	41.35%
AMG	74 Outperform	$6.74B	17.85	13.47%	0.02%	-5.87%	-21.51%
STT	73 Outperform	32.05B	12.66	10.44%	2.66%	11.66%	67.88%
HLNE	61 Neutral	7.96B	27.45	27.96%	1.48%	10.66%	22.13%
STEP	51 Neutral	7.70B	-20.92	-150.27%	2.17%	88.68%	-494.20%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%

Affiliated Managers Corporate Events

Affiliated Managers Appoints Marcy Engel to Board

On August 14, 2025, Affiliated Managers Group, Inc. announced the appointment of Marcy Engel to its Board of Directors as an independent director, effective September 30, 2025. Engel brings extensive experience in financial services, having served in senior roles at alternative investment firms and investment banks. This appointment coincides with the retirement of Dwight D. Churchill, who has served on the board since February 2010. Churchill’s tenure included leadership roles such as Chair of the Audit Committee and interim Chair, contributing significantly to AMG’s growth and evolution. The changes in the board are expected to bring fresh perspectives while acknowledging Churchill’s impactful service.

Affiliated Managers Announces Quarterly Dividend Amid Strong Q2

On July 31, 2025, AMG announced a quarterly dividend of $0.01 per share, payable on August 25, 2025, reflecting its strong financial performance. The company reported a 15% increase in Economic Earnings per share for Q2 2025, driven by robust client cash flows and strategic partnerships, positioning itself for continued growth in the investment management industry.