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Affiliated Managers Group Up 2.7% To $129.90 After Earnings Beat

Monday, August 01, 2022 11:25 AM | InvestorsObserver Analysts
Affiliated Managers Group Up 2.7% To $129.90 After Earnings Beat

Affiliated Managers Group (AMG) said before open Monday that it earned $4.03 per share in quarter two 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $604.1 million, beating estimates by $27.6 million.

In the same quarter a year ago, the company earned $4.03 per share on revenue of $586.3 million.

The stock is up 2.7% to $129.90 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Affiliated Managers Group has performed a little below average during the past few months. Before the report, Affiliated Managers Group received a Long-Term Technical Rank by InvestorsObserver of 45, putting it in the bottom half of stocks. The firm was recently trading at a 52-week low of $109.57 on July 14, 2022 and set a 52-week high on November 4, 2021 at $191.62.

Affiliated Managers Group offers investment strategies to investors through its network of affiliates. The firm typically buys a majority interest in small to midsize boutique asset managers, receiving a fixed percentage of revenue from these firms in return. Affiliates operate independently, with AMG providing strategic, operational, and technology support, as well as global distribution. At the end of March 2022, AMG's affiliate network--which includes firms like AQR Capital Management, BPEA and Pantheon in alternative assets and other products (which accounted for 32% of AUM), Artemis, Genesis, Harding Loevner, and Tweedy Browne in global and emerging-market equities (32%) and Frontier, River Road, Parnassus and Yacktman in U.S. equities (20%)--had $776.7 billion in managed assets.

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