Affiliated Managers Group (AMG)

• Market cap: $4.42B
• 1 day: -1.70%
• 5 days: -5.14%
• 1 month: -8.73%
• 3 months: -18.70%
• 6 months: -19.99%
• Year to date: -17.91%
• 1 year: -5.07%
• 5 years: 151.52%
• 10 years: -30.34%
• Sector: Financials
• Industry: Asset Management

About: 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 September 2024, AMG's affiliate network-which includes firms like AQR Capital Management, and Pantheon in alternative assets and other products (which accounted for 36% of AUM), Artemis, Genesis, Harding Loevner, and Tweedy Browne in global and emerging-market equities (27%) and Frontier, River Road, Parnassus, and Yacktman in US equities (21%)-had $728.4 billion in managed assets.

Employees: 4,100

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

33% more funds holding in top 10

Funds holding in top 10: 6 [Q3] → 8 (+2) [Q4]

5.99% more ownership

Funds ownership: 87.52% [Q3] → 93.52% (+5.99%) [Q4]

5% more capital invested

Capital invested by funds: $4.96B [Q3] → $5.19B (+$235M) [Q4]

8% less first-time investments, than exits

New positions opened: 49 | Existing positions closed: 53

3% less funds holding

Funds holding: 416 [Q3] → 402 (-14) [Q4]

30% less repeat investments, than reductions

Existing positions increased: 117 | Existing positions reduced: 167

55% less call options, than puts

Call options by funds: $1.46M | Put options by funds: $3.26M

Research analyst outlook

3 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $168 9% upside
• Avg. target: $188 22% upside
• High target: $200 30% upside

3 analyst ratings

• positive: 1 33%
• neutral: 2 67%
• negative: 0 0%

TD Cowen Bill Katz 59% 1-year accuracy 20 / 34 met price target	10% upside $168	Hold Maintained	9 Apr 2025
Barrington Research Alexander Paris 59% 1-year accuracy 77 / 130 met price target	30% upside $200	Outperform Maintained	8 Apr 2025
B of A Securities Craig Siegenthaler 61% 1-year accuracy 22 / 36 met price target	27% upside $195	Neutral Maintained	3 Apr 2025