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Recap: Affiliated Managers Group Q2 Earnings

Benzinga Insights
·1 min read

Shares of Affiliated Managers Group (NYSE:AMG) were unchanged in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share decreased 17.72% over the past year to $2.74, which beat the estimate of $2.73.

Revenue of $471,100,000 decreased by 20.41% year over year, which beat the estimate of $445,670,000.

Looking Ahead

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Conference Call Details

Date: Jul 27, 2020

View more earnings on AMG

Time: 08:30 AM

ET Webcast URL: http://public.viavid.com/player/index.php?id=140376

Recent Stock Performance

52-week high: $92.70

Company's 52-week low was at $44.37

Price action over last quarter: Up 3.10%

Company Overview

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 2019, AMG's affiliate network--which includes firms like AQR Capital Management, BPEA and Pantheon in alternative assets and other products (which accounted for 33% of AUM), Artemis, Genesis, Harding Loevner, and Tweedy Browne in global equities (38%) and Frontier, River Road, and Yacktman in U.S. equities (14%)--had $722.5 billion in managed assets.

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