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Shares of Affiliated Managers Group (NYSE:AMG) moved higher by 1% after the company reported Q4 results.
Quarterly Results
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- Earnings per share were up 28.05% year over year to $4.52, which beat the estimate of $4.08.
- Revenue of $555,500,000 lower by 1.58% from the same period last year, which beat the estimate of $553,500,000.
Conference Call Details
- Webcast URL: http://public.viavid.com/player/index.php?id=137769
Recent Stock Performance
- 52-week high was at $115.75
- 52-week low: $71.08
- Price action over last quarter: Up 0.08%
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 2019, AMG's affiliate network--which includes firms like AQR Capital Management, Blue Mountain, and Pantheon in alternative assets and other products (which account for 37% of AUM), Artemis, Genesis, Harding Loevner, and Tweedy Browne in global equities (35%) and Frontier, River Road, and Yacktman in U.S. equities (14%)--had an estimated $755 billion in managed assets.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.