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. The last earnings update was 25 days ago. More info.
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- 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
1 Year Returns
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.
AMG Value
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Affiliated Managers Group.
| 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.
| 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.
| 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 |
| 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
Current Discount Checks
- 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?
| 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.
| 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?
| 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 .
| 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?
| 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 |
| 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.
Value checks
We assess Affiliated Managers Group's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check) 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
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!
Earnings growth vs Low Risk Savings
- 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
| 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
| 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 |
| 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 |
| 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.
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.
| 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 |
| 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.
Future performance checks
We assess Affiliated Managers Group's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
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
Past Earnings growth analysis
- 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
All data from Affiliated Managers Group Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| 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).
Past performance checks
We assess Affiliated Managers Group's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
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.
- 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
Assets
Liabilities and shares
- 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.
All data from Affiliated Managers Group Company Filings, last reported 2 months ago.
| 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).
Financial health checks
We assess Affiliated Managers Group's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Affiliated Managers Group has a total score of 4/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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
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
- 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.
| 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.
| 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 |
| 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.
Income/ dividend checks
We assess Affiliated Managers Group's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- 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) 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
CEO
| 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:
- The average tenure for the Affiliated Managers Group management team is less than 2 years, this suggests a new team.
Management Team
Sean Healey
Executive Chairman
$14M
57
0.8 yrs
Nate Dalton
CEO & Director
$8M
51
0.8 yrs
Jay Horgen
President
$7M
47
0.1 yrs
David Billings
General Counsel & Secretary
$2M
55
4.8 yrs
Hugh Peter Cutler
Executive VP & Head of Global Distribution
$3M
45
2 yrs
Dean Maines
Senior VP & Chief Accounting Officer
10.2 yrs
Stephen Pruell
Chief Information Officer & Senior VP
0.2 yrs
Ali Lynn
Chief Administrative Officer
Jeffrey Parker
Vice President of Investor Relations
Pam Price
Director of Human Resources
Board of Directors Tenure
Average tenure and age of the Affiliated Managers Group board of directors in years:
- The tenure for the Affiliated Managers Group board of directors is about average.
Board of Directors
Nate Dalton
CEO & Director
$8M
51
0.8 yrs
Patrick Ryan
Lead Independent Director
$432K
59
4.1 yrs
Sean Healey
Executive Chairman
$14M
57
8.2 yrs
Jide Zeitlin
Director
$300K
54
13.2 yrs
Dwight Churchill
Independent Director
$315K
64
9.1 yrs
Sam Byrne
Director
$330K
53
9.4 yrs
Tracy Palandjian
Director
$313K
47
7 yrs
Niall Ferguson
Director
$293K
53
4.9 yrs
Glenn Peter Earle
Director
$300K
60
3.9 yrs
Karen Yerburgh
Director
55
1.2 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | 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 | ||
Management checks
We assess Affiliated Managers Group's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) 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 - – Full articleAffiliated 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 - – Full articleIs 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 - – Full articleWhy 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 - – Full articleWhat 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 - – Full articleAffiliated 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 - – Full articleWhat 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 - – Full articleShould 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 - – Full articleShould 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 - – Full articleWas 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 - – Full articleAMG 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
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.
