Affiliated Managers Group
Builds equity partnerships with independent investment firms while preserving their operating autonomy.
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Profile
Builds equity partnerships with independent investment firms whose principals retain ownership and investment independence. Affiliate capabilities span liquid alternatives, private markets, multi-asset, and differentiated equities.
Builds long-term equity partnerships with independent, partner-owned investment firms. Affiliate principals retain direct equity ownership and day-to-day investment independence, while AMG provides strategic, business-development, operational, and capital support. The structure preserves each Affiliate's investment identity, management team, and long-term ownership.
Its Affiliate portfolio spans liquid alternatives, private markets, multi-asset, and differentiated equity strategies, with institutional distribution outside the United States and a growing U.S. wealth-market presence. Results depend on Affiliate investment performance, their retention of investment professionals, their ability to market strategies, and the changing mix of Affiliate earnings contributions.
Company facts
Categories
Key statistics
Year to date +28.4% · Average volume (30d) 266.1K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 31, 2026 | Barrington | Target | $285 | $425 | ||
| May 4, 2026 | Deutsche Bank | Target | $408 | $400 | ||
| May 4, 2026 | Goldman Sachs | Target | $341 | $405 | ||
| Feb 13, 2026 | Deutsche Bank | Target | $204 | $408 | ||
| Jan 6, 2026 | Goldman Sachs | Reiterate | Buy | $341 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q2 FY26 | $7.90 | $8.29 | +4.9% | $590.9M | $640.7M | +8.4% | +1.50% |
| Jul 29, 2026Q2 FY26 | $7.90 | $8.29 | +4.9% | $590.9M | $640.7M | +8.4% | +1.50% |
| May 1, 2026Q1 FY26 | $8.10 | $8.23 | +1.6% | $544.0M | $544.9M | +0.2% | +2.22% |
| Feb 12, 2026Q4 FY25 | $8.75 | $9.48 | +8.3% | $578.5M | $556.6M | −3.8% | +0.26% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $496.6M | $493.2M | $528.0M | $800.4M | $544.9M | $655.3M | |
| Gross profit | $266.3M | $229.5M | $274.5M | $667.0M | $441.5M | $636.5M | |
| Operating income | $85.5M | $125.0M | $165.1M | $308.5M | $77.4M | $209.1M | |
| Net income | $72.4M | $84.3M | $212.4M | $347.6M | $110.4M | $185.9M | |
| Diluted EPS | $2.20 | $2.80 | $6.87 | $11.21 | $3.84 | $6.95 | |
| Gross margin | 53.6% | 46.5% | 52.0% | 83.3% | 81.0% | 97.1% | |
| Operating margin | 17.2% | 25.3% | 31.3% | 38.5% | 14.2% | 31.9% |
Fiscal years (4-quarter sums)FY21 $2.41B · FY22 $2.24B · FY23 $2.06B · FY24 $2.04B · FY25 $2.32B
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $411.0M · Total debt $3.00B · Total assets $9.40B · Shareholders' equity $3.04B
Dividends
Raised for 5 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 10, 2026 | Aug 10 | Aug 24 | $0.01 | |
| May 11, 2026 | May 11 | May 26 | $0.01 | |
| Feb 23, 2026 | Feb 23 | Mar 9 | $0.01 | |
| Nov 13, 2025 | Nov 13 | Nov 28 | $0.01 | |
| Aug 11, 2025 | Aug 11 | Aug 25 | $0.01 | |
| May 19, 2025 | May 19 | Jun 2 | $0.01 | |
| Feb 18, 2025 | Feb 18 | Mar 4 | $0.01 | |
| Nov 14, 2024 | Nov 14 | Nov 29 | $0.01 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 26.41M · Float 25.40M
This issuer lists more than one class and the share count spans them all, so a stake here reads as a share of the whole company, not of this class.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % of company | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 2.77M | 10.50% | 13F | Aug 7, 2026 |
| Morgan Stanley | 1.49M | 5.63% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 1.39M | 5.27% | 13F | Aug 13, 2026 |
| Vanguard Capital Management LLC | 1.15M | 4.36% | 13F | Aug 13, 2026 |
| Boston Partners | 1.00M | 3.79% | 13F | Aug 4, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 8, 2026 | Jay C. Horgen | director, officer: President and CEO | −17,500 | $338.27 |
| May 6, 2026 | David Christopher Ryan | director | −3,402 | $305.06 |
| May 8, 2026 | Rodriguez Felix V. Matos | director | −1,000 | $300.18 |
| May 6, 2026 | G. Staley Cates | director | +1,500 | $305.83 |
| Mar 9, 2026 | Kavita Padiyar | officer: General Counsel & Corp. Sec. | −2,200 | $278.24 |
Peers
- Blue Owl Capital
Minority-stakes and private-wealth rival in alternatives
- Victory Capital
Multi-boutique rival with centralized distribution
- TPG
Scaled alternatives platform across private markets
- The Carlyle Group
Private-capital competitor spanning equity, credit, and secondaries
- StepStone Group
Private-markets solutions and wealth-distribution competitor
- Franklin Templeton
Specialist-manager platform with broad alternatives capability
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Affiliated Managers Group | $370.87 | −0.02% | $9.80B | 12.8 | 9.4 | 3.9 | +29.9% |
| Blue Owl Capital | $12.04 | +0.12% | $18.79B | 101.2 | 13.0 | 6.3 | +7.1% |
| Victory Capital | $118.31 | −0.01% | $7.40B | 21.7 | 14.2 | 4.7 | +22.4% |
| TPG | $53.97 | +0.03% | $20.69B | 62.0 | 16.9 | 4.4 | −31.8% |
| The Carlyle Group | $49.09 | −0.02% | $17.67B | 51.0 | 11.9 | 4.5 | −29.3% |
| StepStone Group | $50.32 | −0.08% | $6.50B | — | 19.1 | 3.2 | −17.5% |
| Franklin Templeton | $35.05 | +1.15% | $18.01B | 23.1 | 11.3 | 1.9 | −12.0% |
| Median | 51.0 | 13.6 | 4.4 | −14.7% |