Affiliated Managers Group (NYSE:AMG) Announces Earnings Results

Affiliated Managers Group (NYSE:AMG) posted its quarterly earnings results on Thursday. The asset manager reported $9.48 earnings per share for the quarter, beating analysts’ consensus estimates of $8.75 by $0.73, FiscalAI reports. The company had revenue of $556.60 million for the quarter, compared to the consensus estimate of $578.54 million. Affiliated Managers Group had a net margin of 26.01% and a return on equity of 16.75%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the company posted $6.53 EPS.

Here are the key takeaways from Affiliated Managers Group’s conference call:

• AMG delivered record 2025 results with full‑year economic EPS of $26.05 (up 22% YoY) and Q4 economic EPS of $9.48 (up 45% YoY), supported by ~$29 billion in annual net client cash flows.
• The company accelerated its strategic pivot into alternatives — affiliates now manage $373 billion of alternative AUM (a large part of a ~35% increase in alternatives) and alternatives contribute roughly 60% of run‑rate EBITDA.
• Disciplined capital allocation: AMG repurchased ~$700 million of stock in 2025 (~11% of shares), committed >$1 billion to new investments, realized substantial liquidity proceeds from affiliate sales, and simplified its balance sheet by settling convertible preferreds.
• 2026 starting outlook includes Q1 Adjusted EBITDA guidance of $310–$330 million (with Q1 economic EPS of $7.98–$8.52), fee‑related earnings expected to be up ~30% vs Q1 2025, and management targets ~$170 million in 2026 net performance fees (in line with its five‑year average).

Affiliated Managers Group Price Performance

AMG stock opened at $328.43 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The firm has a market cap of $9.24 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 0.57 and a beta of 1.21. The company’s fifty day simple moving average is $300.35 and its 200 day simple moving average is $259.62. Affiliated Managers Group has a 12-month low of $139.22 and a 12-month high of $333.99.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AMG shares. Barrington Research lifted their price target on Affiliated Managers Group from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Jefferies Financial Group reiterated a “buy” rating and set a $282.00 target price on shares of Affiliated Managers Group in a research report on Tuesday, November 4th. Zacks Research cut shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Wall Street Zen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Finally, TD Cowen reiterated a “buy” rating on shares of Affiliated Managers Group in a report on Wednesday, January 14th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Affiliated Managers Group has an average rating of “Moderate Buy” and a consensus price target of $340.50.

Key Stories Impacting Affiliated Managers Group

Here are the key news stories impacting Affiliated Managers Group this week:

• Positive Sentiment: Q4 earnings materially beat expectations — economic EPS of $9.48 (diluted EPS and other metrics also reported) and full‑year results showed strong profitability, which directly drove the market reaction. AMG Reports Financial and Operating Results for the Fourth Quarter and Full Year 2025
• Positive Sentiment: Assets under management accelerated — AUM rose ~15% year‑over‑year, helping revenue and fee income growth and signaling continued client demand, especially in higher‑fee strategies. AMG’s Q4 Earnings Beat as AUM & Revenues Rise, Partners With HighBrook
• Positive Sentiment: Company announced a new share buyback program — buybacks reduce share count and are a near‑term EPS tailwind, supporting investor sentiment. AMG’s Q4 Earnings Beat as AUM & Revenues Rise, Partners With HighBrook
• Positive Sentiment: Strategic investments expand alternatives and private‑market exposure — AMG increased its stake in Garda Capital Partners (liquid alternatives) and acquired a minority interest in HighBrook (real estate/private markets), diversifying fee mix toward higher‑growth, higher‑margin strategies. AMG Expands Its Partnership with Garda Capital Partners with Increased Investment
• Positive Sentiment: Management tone on the earnings call highlighted strength in alternatives and ongoing partner-level performance, reinforcing the narrative that AMG’s affiliate model is delivering. Affiliated Managers Group Signals Strength in Alternatives
• Neutral Sentiment: Revenue growth was modest (reported ~6% YoY) despite strong AUM growth — indicates margin/fee mix effects that investors should monitor for sustainability. AMG Reports Financial and Operating Results for the Fourth Quarter and Full Year 2025
• Neutral Sentiment: Full earnings materials, slide deck and call transcript are available for deeper review — useful for investors who want detail on fee‑rate trends, affiliate flows and buyback specifics. View Press Release / Slide Deck

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. CIBC Private Wealth Group LLC grew its stake in Affiliated Managers Group by 676.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 233 shares of the asset manager’s stock worth $67,000 after purchasing an additional 203 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Affiliated Managers Group by 89.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager’s stock worth $55,000 after buying an additional 133 shares in the last quarter. State of Wyoming bought a new position in shares of Affiliated Managers Group during the 2nd quarter worth approximately $73,000. Integrated Quantitative Investments LLC acquired a new stake in shares of Affiliated Managers Group during the 4th quarter worth approximately $202,000. Finally, Brooklyn Investment Group bought a new stake in shares of Affiliated Managers Group in the 4th quarter valued at $266,000. 95.30% of the stock is owned by institutional investors and hedge funds.

About Affiliated Managers Group

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.