Why Affiliated Managers Group's Stock Is Trading Higher Today

Affiliated Managers Group AMG shares are trading higher Monday after the company reported better-than-expected fourth-quarter EPS and sales results.

Affiliated Managers Group reported quarterly earnings of $4.22 per share, which beat the analyst consensus estimate of $3.71. The company reported quarterly sales of $554.40 million, which beat the analyst consensus estimate of $513.50.

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.

Affiliated Managers shares were trading up 13.25% at $127.57. The stock has a 52-week high of $128.97 and low of $44.37.