Benzinga | Oct 26, 2020 07:11AM EDT

Affiliated Managers Group: Q3 Earnings Insights

Shares of Affiliated Managers Group (NYSE:AMG) rose 0.5% in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share were up 3.48% year over year to $3.27, which beat the estimate of $2.84.

Revenue of $494,800,000 declined by 9.87% from the same period last year, which beat the estimate of $467,970,000.

Looking Ahead

Affiliated Managers Group hasn't issued any earnings guidance for the time being.

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

Conference Call Details

Date: Oct 26, 2020

Time: 08:30 AM

ET Webcast URL: http://public.viavid.com/player/index.php?id=141626

Recent Stock Performance

Company's 52-week high was at $88.95

52-week low: $44.37

Price action over last quarter: Up 16.33%

Company Description

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 June 2020, AMG's affiliate network--which includes firms like AQR Capital Management, BPEA and Pantheon in alternative assets and other products (which accounted for 35% of AUM), Artemis, Genesis, Harding Loevner, and Tweedy Browne in global equities (36%) and Frontier, River Road, and Yacktman in U.S. equities (13%)--had $638.4 billion in managed assets.