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Affiliated Managers Group

NYSE:AMG
Snowflake Description

Good value with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AMG
NYSE
$6B
Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

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. The last earnings update was 25 days ago. More info.


Add to Portfolio Compare Print
  • Affiliated Managers Group is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
AMG Share Price and Events
7 Day Returns
3.5%
NYSE:AMG
3.1%
US Capital Markets
1.6%
US Market
1 Year Returns
-41.7%
NYSE:AMG
-11%
US Capital Markets
3.2%
US Market
AMG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Affiliated Managers Group (AMG) 3.5% 1.2% 19.6% -41.7% -31.7% -40.5%
US Capital Markets 3.1% 1% 11.6% -11% 57.3% 58.2%
US Market 1.6% 2.1% 12.8% 3.2% 38.6% 43.6%
1 Year Return vs Industry and Market
  • AMG underperformed the Capital Markets industry which returned -11% over the past year.
  • AMG underperformed the Market in United States of America which returned 3.2% over the past year.
Price Volatility
AMG
Industry
5yr Volatility vs Market

AMG Value

 Is Affiliated Managers Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Affiliated Managers Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Affiliated Managers Group.

NYSE:AMG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $64.40 * 15.3%
$9.85
Book Value of Equity per Share Median Book Value from the past 5 years. $64.40
Discount Rate (Cost of Equity) See below 8.3%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:AMG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.728 (1 + (1- 21%) (31.87%))
0.94
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.94
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.94 * 5.96%)
8.33%

Discounted Cash Flow Calculation for NYSE:AMG using Excess Returns Model Model

The calculations below outline how an intrinsic value for Affiliated Managers Group is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NYSE:AMG Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (15.3% – 8.33%) * $64.40)
$4.48
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $4.48 / (8.33% - 2.73%)
$79.93
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $64.40 + $79.93
$144.33
NYSE:AMG Discount to Share Price
Calculation Result
Value per share (USD) From above. $144.33
Current discount Discount to share price of $110.30
= -1 x ($110.30 - $144.33) / $144.33
23.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Affiliated Managers Group is available for.
Intrinsic value
24%
Share price is $110.3 vs Future cash flow value of $144.33
Current Discount Checks
For Affiliated Managers Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Affiliated Managers Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Affiliated Managers Group's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Affiliated Managers Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Affiliated Managers Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:AMG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $4.54
NYSE:AMG Share Price ** NYSE (2019-03-19) in USD $110.3
United States of America Capital Markets Industry PE Ratio Median Figure of 76 Publicly-Listed Capital Markets Companies 24.96x
United States of America Market PE Ratio Median Figure of 3,056 Publicly-Listed Companies 17.77x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Affiliated Managers Group.

NYSE:AMG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:AMG Share Price ÷ EPS (both in USD)

= 110.3 ÷ 4.54

24.27x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Affiliated Managers Group is good value based on earnings compared to the US Capital Markets industry average.
  • Affiliated Managers Group is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Affiliated Managers Group's expected growth come at a high price?
Raw Data
NYSE:AMG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 24.27x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
34.2%per year
United States of America Capital Markets Industry PEG Ratio Median Figure of 33 Publicly-Listed Capital Markets Companies 2.21x
United States of America Market PEG Ratio Median Figure of 2,107 Publicly-Listed Companies 1.49x

*Line of best fit is calculated by linear regression .

NYSE:AMG PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 24.27x ÷ 34.2%

0.71x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Affiliated Managers Group is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Affiliated Managers Group's assets?
Raw Data
NYSE:AMG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $66.49
NYSE:AMG Share Price * NYSE (2019-03-19) in USD $110.3
United States of America Capital Markets Industry PB Ratio Median Figure of 149 Publicly-Listed Capital Markets Companies 4.83x
United States of America Market PB Ratio Median Figure of 5,154 Publicly-Listed Companies 1.89x
NYSE:AMG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:AMG Share Price ÷ Book Value per Share (both in USD)

= 110.3 ÷ 66.49

1.66x

* Primary Listing of Affiliated Managers Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Affiliated Managers Group is good value based on assets compared to the US Capital Markets industry average.
X
Value checks
We assess Affiliated Managers Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Affiliated Managers Group has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

AMG Future Performance

 How is Affiliated Managers Group expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
34.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Affiliated Managers Group expected to grow at an attractive rate?
  • Affiliated Managers Group's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Affiliated Managers Group's earnings growth is expected to exceed the United States of America market average.
  • Affiliated Managers Group's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:AMG Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:AMG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 34.2%
NYSE:AMG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts -1.6%
United States of America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 6.4%
United States of America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:AMG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:AMG Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 2,389 1
2020-12-31 2,263 532 7
2019-12-31 2,193 941 489 7
NYSE:AMG Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 2,378 1,141 244
2018-09-30 2,418 1,246 710
2018-06-30 2,402 1,304 711
2018-03-31 2,373 1,253 720
2017-12-31 2,305 1,170 690
2017-09-30 2,251 1,166 525
2017-06-30 2,210 1,153 509
2017-03-31 2,194 1,147 491
2016-12-31 2,195 1,050 473
2016-09-30 2,234 1,037 470
2016-06-30 2,302 1,079 468
2016-03-31 2,395 1,115 486

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Affiliated Managers Group's earnings are expected to grow significantly at over 20% yearly.
  • Affiliated Managers Group's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:AMG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Affiliated Managers Group Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:AMG Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31 10.78 12.86 9.27 4.00
2019-12-31 9.47 10.89 8.08 5.00
NYSE:AMG Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 4.54
2018-09-30 13.10
2018-06-30 12.95
2018-03-31 12.98
2017-12-31 12.31
2017-09-30 9.37
2017-06-30 9.18
2017-03-31 8.95
2016-12-31 8.72
2016-09-30 8.73
2016-06-30 8.67
2016-03-31 8.97

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Affiliated Managers Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Affiliated Managers Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Affiliated Managers Group has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

AMG Past Performance

  How has Affiliated Managers Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Affiliated Managers Group's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Affiliated Managers Group's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Affiliated Managers Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Affiliated Managers Group's 1-year earnings growth is negative, it can't be compared to the US Capital Markets industry average.
Earnings and Revenue History
Affiliated Managers Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Affiliated Managers Group Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:AMG Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 2,378.40 243.60 417.70
2018-09-30 2,418.00 710.20 417.80
2018-06-30 2,402.40 710.70 406.90
2018-03-31 2,373.10 720.00 390.80
2017-12-31 2,305.00 689.50 373.10
2017-09-30 2,251.30 524.50 381.10
2017-06-30 2,210.30 509.30 383.40
2017-03-31 2,193.50 491.30 391.90
2016-12-31 2,194.60 472.80 398.10
2016-09-30 2,234.00 470.00 400.00
2016-06-30 2,302.40 467.50 413.30
2016-03-31 2,394.90 485.50 430.00
2015-12-31 2,484.50 509.50 443.80
2015-09-30 2,535.90 534.60 456.50
2015-06-30 2,563.10 530.20 463.40
2015-03-31 2,552.80 502.90 471.90
2014-12-31 2,510.90 433.90 485.50
2014-09-30 2,463.70 437.70 488.50
2014-06-30 2,374.90 409.60 480.50
2014-03-31 2,279.70 375.30 457.20
2013-12-31 2,188.80 360.50 427.20
2013-09-30 2,085.80 277.40 397.40
2013-06-30 2,001.60 257.10 384.90
2013-03-31 1,890.00 199.00 374.20
2012-12-31 1,805.50 174.00 366.90
2012-09-30 1,716.90 139.20 356.90
2012-06-30 1,663.50 124.40 346.50
2012-03-31 1,696.20 163.20 348.30

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Affiliated Managers Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Affiliated Managers Group used its assets more efficiently than the US Capital Markets industry average last year based on Return on Assets.
  • Affiliated Managers Group's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Affiliated Managers Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Affiliated Managers Group has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

AMG Health

 How is Affiliated Managers Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Affiliated Managers Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Affiliated Managers Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Affiliated Managers Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Affiliated Managers Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Affiliated Managers Group Company Filings, last reported 2 months ago.

NYSE:AMG Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 4,968.60 1,829.60 684.80
2018-09-30 5,290.10 1,841.40 592.20
2018-06-30 5,310.90 1,882.60 476.90
2018-03-31 5,364.20 1,861.50 415.20
2017-12-31 5,390.40 1,854.70 517.30
2017-09-30 5,208.90 1,913.60 467.10
2017-06-30 5,101.00 2,032.40 468.20
2017-03-31 5,102.50 2,026.00 409.10
2016-12-31 5,100.00 2,109.60 553.20
2016-09-30 4,808.30 2,113.30 635.20
2016-06-30 4,529.50 2,136.90 564.00
2016-03-31 4,430.70 2,300.80 505.80
2015-12-31 4,381.60 1,879.40 763.70
2015-09-30 4,301.20 1,799.90 713.50
2015-06-30 4,381.10 1,864.30 750.00
2015-03-31 4,288.00 1,924.00 631.10
2014-12-31 4,288.70 1,894.90 723.20
2014-09-30 4,217.60 1,290.90 718.30
2014-06-30 4,184.80 1,340.90 523.20
2014-03-31 4,036.30 1,440.50 883.10
2013-12-31 3,786.50 1,386.20 627.50
2013-09-30 3,616.70 1,435.60 655.30
2013-06-30 3,612.20 1,364.60 533.90
2013-03-31 3,550.00 1,464.00 470.50
2012-12-31 3,518.90 1,634.60 559.30
2012-09-30 3,367.80 1,610.60 505.80
2012-06-30 3,219.10 1,405.60 449.20
2012-03-31 2,983.20 1,205.50 553.70
  • Affiliated Managers Group's level of debt (36.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (36.6% vs 36.8% today).
  • Debt is well covered by operating cash flow (62.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 12.8x coverage).
X
Financial health checks
We assess Affiliated Managers Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Affiliated Managers Group has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

AMG Dividends

 What is Affiliated Managers Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.16%
Current annual income from Affiliated Managers Group dividends. Estimated to be 1.28% next year.
If you bought $2,000 of Affiliated Managers Group shares you are expected to receive $23 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Affiliated Managers Group's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Affiliated Managers Group's dividend is below the markets top 25% of dividend payers in United States of America (3.63%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:AMG Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
United States of America Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 43 Stocks 2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2004 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:AMG Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 1.47 2.00
2020-12-31 1.49 5.00
2019-12-31 1.31 5.00
NYSE:AMG Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-22 1.280 1.182
2019-02-04 1.280 1.189
2018-11-01 1.200 1.143
2018-10-29 1.200 1.047
2018-08-02 1.200 0.868
2018-07-30 1.200 0.762
2018-01-29 1.200 0.707
2017-10-30 0.800 0.406
2017-08-03 0.800 0.436
2017-07-31 0.800 0.437
2017-01-30 0.800 0.490

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Affiliated Managers Group has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Affiliated Managers Group only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of Affiliated Managers Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (10.4x coverage).
X
Income/ dividend checks
We assess Affiliated Managers Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Affiliated Managers Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Affiliated Managers Group has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

AMG Management

 What is the CEO of Affiliated Managers Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Nate Dalton
COMPENSATION $8,231,554
AGE 51
TENURE AS CEO 0.8 years
CEO Bio

Mr. Nathaniel Dalton, also known as Nate, J.D., has been the Chief Executive Officer and Director at Affiliated Managers Group, Inc. since May 29, 2018. He served as the President of Affiliated Managers Group, Inc. since May 24, 2011 until 2019 and served as its Chief Operating Officer from December 14, 2006 to May 29, 2018. Mr. Dalton joined Company in 1996, as a Senior Vice President and General Counsel, became an Executive Vice President with responsibility for AMG's affiliate development efforts in 2001 and was promoted to Executive Vice President and Chief Operating Officer in 2006. He was appointed as the President and Chief Operating Officer in 2011. He was a Secretary until June 2002 at the firm. Prior to this, he was an Attorney at Goodwin Procter LLP and focused on mergers and acquisitions, including those in the asset management industry. He is a Member of Executive Board of Managers Investment Group LLC. Mr. Dalton has been a Director of Montrusco Bolton Investments Inc. since October 2005. He served as a Director of DFD Fund of Funds plc until January 2007. He is the Founder and President at Guard Support of Massachusetts, Inc. He is a Member of the Advisory Board of The Focus Consulting Group. He is the Treasurer and Trustee of the Tower School in Marblehead, Massachusetts. Mr. Dalton received a J.D. from Boston University School of Law and a B.A. degree from the University of Pennsylvania.

CEO Compensation
  • Nate's compensation has been consistent with company performance over the past year.
  • Nate's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Affiliated Managers Group management team in years:

0.8
Average Tenure
51
Average Age
  • The average tenure for the Affiliated Managers Group management team is less than 2 years, this suggests a new team.
Management Team

Sean Healey

TITLE
Executive Chairman
COMPENSATION
$14M
AGE
57
TENURE
0.8 yrs

Nate Dalton

TITLE
CEO & Director
COMPENSATION
$8M
AGE
51
TENURE
0.8 yrs

Jay Horgen

TITLE
President
COMPENSATION
$7M
AGE
47
TENURE
0.1 yrs

David Billings

TITLE
General Counsel & Secretary
COMPENSATION
$2M
AGE
55
TENURE
4.8 yrs

Hugh Peter Cutler

TITLE
Executive VP & Head of Global Distribution
COMPENSATION
$3M
AGE
45
TENURE
2 yrs

Dean Maines

TITLE
Senior VP & Chief Accounting Officer
TENURE
10.2 yrs

Stephen Pruell

TITLE
Chief Information Officer & Senior VP
TENURE
0.2 yrs

Ali Lynn

TITLE
Chief Administrative Officer

Jeffrey Parker

TITLE
Vice President of Investor Relations

Pam Price

TITLE
Director of Human Resources
Board of Directors Tenure

Average tenure and age of the Affiliated Managers Group board of directors in years:

6
Average Tenure
54.5
Average Age
  • The tenure for the Affiliated Managers Group board of directors is about average.
Board of Directors

Nate Dalton

TITLE
CEO & Director
COMPENSATION
$8M
AGE
51
TENURE
0.8 yrs

Patrick Ryan

TITLE
Lead Independent Director
COMPENSATION
$432K
AGE
59
TENURE
4.1 yrs

Sean Healey

TITLE
Executive Chairman
COMPENSATION
$14M
AGE
57
TENURE
8.2 yrs

Jide Zeitlin

TITLE
Director
COMPENSATION
$300K
AGE
54
TENURE
13.2 yrs

Dwight Churchill

TITLE
Independent Director
COMPENSATION
$315K
AGE
64
TENURE
9.1 yrs

Sam Byrne

TITLE
Director
COMPENSATION
$330K
AGE
53
TENURE
9.4 yrs

Tracy Palandjian

TITLE
Director
COMPENSATION
$313K
AGE
47
TENURE
7 yrs

Niall Ferguson

TITLE
Director
COMPENSATION
$293K
AGE
53
TENURE
4.9 yrs

Glenn Peter Earle

TITLE
Director
COMPENSATION
$300K
AGE
60
TENURE
3.9 yrs

Karen Yerburgh

TITLE
Director
AGE
55
TENURE
1.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
02. Nov 18 Sell Hugh Peter Cutler Individual 31. Oct 18 31. Oct 18 -1,564 $115.48 $-180,611
02. Nov 18 Buy Hugh Peter Cutler Individual 31. Oct 18 31. Oct 18 1,564 $115.48 $180,611
X
Management checks
We assess Affiliated Managers Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Affiliated Managers Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

AMG News

Simply Wall St News

What Is Affiliated Managers Group Inc's (NYSE:AMG) Share Price Doing?

Affiliated Managers Group Inc (NYSE:AMG), a capital markets company based in United States,. … A question to answer is whether Affiliated Managers Group's current trading price of $151.05 reflective of the actual value of the? … Let’s take a look at Affiliated Managers Group’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Affiliated Managers Group Inc (NYSE:AMG): How To Win In A Volatile Market

This is the best time to buy stocks like Affiliated Managers Group Inc at a discount. … Check out our latest analysis for Affiliated Managers Group. … 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

Simply Wall St -

Is Affiliated Managers Group Inc (NYSE:AMG) A Buy At Its Current PE Ratio?

The content of this article will benefit those of you who are starting to educate yourself about investing in the stock market. … and want to better understand how you can grow your money by investing in Affiliated Managers Group Inc (NYSE:AMG). … Affiliated Managers Group Inc (NYSE:AMG) is trading with a trailing P/E of 11.3x, which is lower than the industry average of 16x.

Simply Wall St -

Why Affiliated Managers Group Inc (NYSE:AMG) Is An Attractive Investment

Affiliated Managers Group Inc (NYSE:AMG) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … For those interested in understanding where the figures come from and want to see the analysis,

Simply Wall St -

What Value Should You Place On Affiliated Managers Group Inc (NYSE:AMG)?

NYSE:AMG Intrinsic Value May 5th 18 Deriving AMG's Intrinsic Value The main belief for Excess Returns is that equity value is how much the firm can earn, over and above its cost of equity, given the level of equity it has in the company at the moment. … The returns in excess of cost of equity is called excess returns: Excess Return Per Share = (Stable Return On Equity – Cost Of Equity) (Book Value Of Equity Per Share) = (19.86% – 9.60%) * $67.34 = $6.91 Excess Return Per Share is used to calculate the terminal value of AMG, which is how much the business is expected to continue to generate over the upcoming years, in perpetuity. … This is a common component of discounted cash flow models: Terminal Value Per Share = Excess Return Per Share / (Cost of Equity – Expected Growth Rate) = $6.91 / (9.60% – 2.47%) = $96.91 These factors are combined to calculate the true value of AMG's stock: Value Per Share = Book Value of Equity Per Share + Terminal Value Per Share = $67.34 + $96.91 = $164.25 Relative to the present share price of $161.72, AMG is currently priced in-line with its intrinsic value.

Simply Wall St -

Affiliated Managers Group Inc's (NYSE:AMG) Earnings Grew 45.83%, Did It Beat Long-Term Trend?

Check out our latest analysis for Affiliated Managers Group Were AMG's earnings stronger than its past performances and the industry? … For Affiliated Managers Group, its most recent earnings (trailing twelve month) is US$689.50M, which, relative to the previous year's figure, has jumped up by 45.83%. … Given that these figures may be relatively short-term thinking, I’ve created an annualized five-year figure for AMG's net income, which stands at US$372.99M This means generally, Affiliated Managers Group has been able to increasingly improve its bottom line over the last few years as well.

Simply Wall St -

What Should You Know About Affiliated Managers Group Inc's (NYSE:AMG) Future?

Affiliated Managers Group Inc's (NYSE:AMG) most recent earnings update in December 2017 showed that the business gained from a robust tailwind, leading to a double-digit earnings growth of 45.83%. … Below is my commentary, albeit very simple and high-level, on how market analysts perceive Affiliated Managers Group's earnings growth trajectory over the next few years and whether the future looks even brighter than the past. … Check out our latest analysis for Affiliated Managers Group Market analysts' prospects for next year seems rather muted, with earnings growing by a single digit 2.36%.

Simply Wall St -

Should You Be Tempted To Buy Affiliated Managers Group Inc (NYSE:AMG) At Its Current PE Ratio?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for AMG Price per share = $181.44 Earnings per share = $12.313 ∴ Price-Earnings Ratio = $181.44 ÷ $12.313 = 14.7x The P/E ratio itself doesn’t tell you a lot; however, it becomes very insightful when you compare it with other similar companies. … For example, if you are inadvertently comparing lower risk firms with AMG, then AMG’s P/E would naturally be lower than its peers, since investors would value those with lower risk with a higher price. … If this assumption does not hold true, AMG’s lower P/E ratio may be because firms in our peer group are being overvalued by the market.

Simply Wall St -

Should You Buy Affiliated Managers Group Inc (NYSE:AMG) Now?

Affiliated Managers Group Inc (NYSE:AMG) saw a decent share price growth in the teens level on the NYSE over the last few months. … Affiliated Managers Group’s optimistic future growth appears to have been factored into the current share price, with shares trading above its fair value. … If you believe Affiliated Managers Group should trade below its current price, selling high and buying it back up again when its price falls towards its real value can be profitable.

Simply Wall St -

Was Affiliated Managers Group Inc's (NYSE:AMG) Earnings Growth Better Than Industry?

Check out our latest analysis for Affiliated Managers Group Did AMG beat its long-term earnings growth trend and its industry? … "For Affiliated Managers Group, its ", latest earnings is $524.5M, which, relative to the previous year's figure, has increased by 11.60%. … Given that these values may be somewhat short-term, I’ve calculated an annualized five-year figure for Affiliated Managers Group's earnings, which stands at $345.7M.

Simply Wall St -

AMG Company Info

Description

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.

Details
Name: Affiliated Managers Group, Inc.
AMG
Exchange: NYSE
Founded: 1993
$5,740,972,161
52,048,705
Website: http://www.amg.com
Address: Affiliated Managers Group, Inc.
777 South Flagler Drive,
West Palm Beach,
Florida, 33401,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE AMG Common Stock New York Stock Exchange US USD 21. Nov 1997
DB AFS Common Stock Deutsche Boerse AG DE EUR 21. Nov 1997
LSE 0HAQ Common Stock London Stock Exchange GB USD 21. Nov 1997
Number of employees
Current staff
Staff numbers
4,450
Affiliated Managers Group employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/19 23:32
End of day share price update: 2019/03/19 00:00
Last estimates confirmation: 2019/03/15
Last earnings filing: 2019/02/22
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.