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Affiliated Managers Group Drops After Swinging to First-Quarter Loss

Tony Owusu

The West Palm Beach, Florida-based company reported a net loss of $200.8 million. Analysts polled by Zacks Investment Research were expecting the company to report adjusted earnings of $3.27 per share on revenue of $535 million. "AMG generated Economic earnings per share of $3.26 in the first quarter of 2019, reflecting the effect of significant market declines in the fourth quarter of 2018, which impacted average AUM and performance fee generation in the first quarter," stated Nathaniel Dalton, CEO of AMG.