Affiliated Managers Group
Market Cap
US$4.0b
Last Updated
2020/02/27 23:55 UTC
Data Sources
Company Financials +
Executive Summary
Affiliated Managers Group, Inc., through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States.
Rewards
Snowflake Analysis
Similar Companies
Share Price & News
How has Affiliated Managers Group's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: AMG has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-8.9%
AMG
-8.6%
US Capital Markets
-10.6%
US Market
1 Year Return
-26.8%
AMG
4.9%
US Capital Markets
5.2%
US Market
Return vs Industry: AMG underperformed the US Capital Markets industry which returned 4.9% over the past year.
Return vs Market: AMG underperformed the US Market which returned 5.2% over the past year.
Shareholder returns
| AMG | Industry | Market | |
|---|---|---|---|
| 7 Day | -8.9% | -8.6% | -10.6% |
| 30 Day | 1.4% | -7.9% | -8.5% |
| 90 Day | -6.0% | -4.4% | -4.6% |
| 1 Year | -25.7%-26.8% | 7.1%4.9% | 7.4%5.2% |
| 3 Year | -50.8%-52.3% | 25.5%18.4% | 31.7%23.2% |
| 5 Year | -61.6%-62.8% | 65.9%50.7% | 56.4%39.3% |
Price Volatility Vs. Market
How volatile is Affiliated Managers Group's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 year ago | Simply Wall St
What Is Affiliated Managers Group Inc's (NYSE:AMG) Share Price Doing?1 year ago | Simply Wall St
Affiliated Managers Group Inc (NYSE:AMG): How To Win In A Volatile Market1 year ago | Simply Wall St
Is Affiliated Managers Group Inc (NYSE:AMG) A Buy At Its Current PE Ratio?Valuation
Is Affiliated Managers Group undervalued compared to its fair value and its price relative to the market?
48.6%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: AMG ($80.28) is trading below our estimate of fair value ($156.22)
Significantly Below Fair Value: AMG is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: AMG is poor value based on its PE Ratio (258.2x) compared to the Capital Markets industry average (30.2x).
PE vs Market: AMG is poor value based on its PE Ratio (258.2x) compared to the US market (16.9x).
Price to Earnings Growth Ratio
PEG Ratio: AMG is poor value based on its PEG Ratio (3.7x)
Price to Book Ratio
PB vs Industry: AMG is good value based on its PB Ratio (1.3x) compared to the US Capital Markets industry average (6.2x).
Future Growth
How is Affiliated Managers Group forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?
70.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: AMG's forecast earnings growth (70.5% per year) is above the savings rate (1.7%).
Earnings vs Market: AMG's earnings (70.5% per year) are forecast to grow faster than the US market (13% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: AMG's revenue is expected to decline over the next 3 years (-1.5% per year).
High Growth Revenue: AMG's revenue is forecast to decline over the next 3 years (-1.5% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if AMG's Return on Equity is forecast to be high in 3 years time
Past Performance
How has Affiliated Managers Group performed over the past 5 years?
-21.0%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: AMG has high quality earnings.
Growing Profit Margin: AMG's current net profit margins (0.7%) are lower than last year (10.2%).
Past Earnings Growth Analysis
Earnings Trend: AMG's earnings have declined by -21% per year over the past 5 years.
Accelerating Growth: AMG's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: AMG had negative earnings growth (-93.6%) over the past year, making it difficult to compare to the Capital Markets industry average (8.5%).
Return on Equity
High ROE: AMG's Return on Equity (6.9%) is considered low.
Return on Assets
Return on Capital Employed
Financial Health
How is Affiliated Managers Group's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: AMG has a low level of unsold assets or inventory.
Debt Coverage by Assets: AMG's debt is not covered by short term assets (assets are 0.6x debt).
Financial Institutions Analysis
Asset Level: AMG's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if AMG has a sufficient allowance for bad loans.
Low Risk Liabilities: AMG reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if AMG has an acceptable proportion of non-loan assets held.
Low Risk Deposits: AMG has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if AMG has an appropriate level of bad loans.
Dividend
What is Affiliated Managers Group's current dividend yield, its reliability and sustainability?
1.59%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: AMG's dividend (1.59%) is higher than the bottom 25% of dividend payers in the US market (1.59%).
High Dividend: AMG's dividend (1.59%) is low compared to the top 25% of dividend payers in the US market (4.09%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, AMG has been paying a dividend for less than 10 years.
Growing Dividend: AMG's dividend payments have increased, but the company has only paid a dividend for 3 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (392.4%), AMG's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: AMG's dividends in 3 years are forecast to be thoroughly covered by earnings (9.9% payout ratio).
Management
How experienced are the management team and are they aligned to shareholders interests?
1.1yrs
Average management tenure
CEO
Jay Horgen (48yo)
0.8yrs
Tenure
US$5,820,685
Compensation
Mr. Jay C. Horgen has been the President at Affiliated Managers Group Inc. since February 04, 2019 and has been its Chief Executive Officer since May 29, 2019. Mr. Horgen served as Chief Financial Officer ...
CEO Compensation Analysis
Compensation vs Market: Jay's total compensation ($USD5.82M) is about average for companies of similar size in the US market ($USD5.04M).
Compensation vs Earnings: Jay's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman | 9.1yrs | US$12.09m | 0.30% $12.2m | |
| CEO, President & Director | 0.8yrs | US$5.82m | 0.24% $9.6m | |
| General Counsel & Secretary | 5.7yrs | US$2.13m | 0.018% $711.5k | |
| Senior Advisor & Director | 1.8yrs | US$7.54m | 0.40% $16.3m | |
| Executive VP & Head of Global Distribution | 2.9yrs | US$2.58m | 0.0089% $360.2k | |
| Chief Financial Officer | 1.1yrs | no data | 0.014% $565.0k | |
| Senior VP & Chief Accounting Officer | 0.3yrs | no data | no data | |
| Chief Information Officer & Senior VP | 1.1yrs | no data | no data | |
| Chief Administrative Officer | 0yrs | no data | no data | |
| VP of Investor Relations | 0yrs | no data | no data |
1.1yrs
Average Tenure
52yo
Average Age
Experienced Management: AMG's management team is not considered experienced ( 1.1 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman | 9.1yrs | US$12.09m | 0.30% $12.2m | |
| CEO, President & Director | 0.8yrs | US$5.82m | 0.24% $9.6m | |
| Senior Advisor & Director | 1.8yrs | US$7.54m | 0.40% $16.3m | |
| Independent Director | 14.6yrs | US$432.12k | 0.027% $1.1m | |
| Independent Director | 14.1yrs | US$305.12k | 0.043% $1.7m | |
| Independent Director | 7.9yrs | US$313.12k | 0.0053% $212.1k | |
| Independent Director | 10yrs | US$315.12k | 0.016% $659.2k | |
| Lead Independent Director | 0.6yrs | US$330.12k | 0.046% $1.8m | |
| Independent Director | 4.8yrs | US$300.12k | 0.0032% $130.0k | |
| Independent Director | 5.8yrs | US$293.12k | 0.0032% $130.8k |
6.9yrs
Average Tenure
54.5yo
Average Age
Experienced Board: AMG's board of directors are considered experienced (6.9 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: AMG insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Affiliated Managers Group, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Affiliated Managers Group, Inc.
- Ticker: AMG
- Exchange: NYSE
- Founded: 1993
- Industry: Asset Management and Custody Banks
- Sector: Diversified Financials
- Market Cap: US$4.025b
- Shares outstanding: 49.27m
- Website: https://www.amg.com
Number of Employees
Location
- Affiliated Managers Group, Inc.
- 777 South Flagler Drive
- West Palm Beach
- Florida
- 33401
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| AMG | NYSE (New York Stock Exchange) | Yes | Common Stock | US | USD | Nov 1997 |
| AFS | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Nov 1997 |
| 0HAQ | LSE (London Stock Exchange) | Yes | Common Stock | GB | USD | Nov 1997 |
Biography
Affiliated Managers Group, Inc., through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments. The company also offers investment products in various investment styles in the institutional distribution channel, including small, small/mid, mid, and large capitalization value and growth equity, and emerging markets. In addition, it offers quantitative, alternative, and fixed income products, and manages assets for foundations and endowments, defined benefit, and defined contribution plans for corporations and municipalities. Affiliated Managers Group provides investment management or customized investment counseling and fiduciary services. The company was formed as a corporation under the laws of Delaware in 1993. Affiliated Managers Group is based in Prides Crossing, Massachusetts.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/02/27 23:55 |
| End of Day Share Price | 2020/02/27 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.