Affiliated Managers Group Inc Stock Price, News & Analysis

Affiliated Managers Group (NYSE: AMG) has appointed Félix V. Matos Rodríguez to its Board of Directors, effective immediately. Dr. Matos Rodríguez is the Chancellor of the City University of New York, overseeing the largest urban university in the U.S. with a student body of 275,000. Known for his leadership in academia, he has held significant roles in education and public service. The company’s President, Jay C. Horgen, emphasized Dr. Matos Rodríguez's expertise in managing large organizations and his commitment to inclusion and excellence as valuable assets to AMG's board.

Affiliated Managers Group (NYSE: AMG) has acquired the minority equity interest in Jackson Square Partners, previously held by Macquarie Investment Management. Jackson Square, an independent investment manager, specializes in growth-oriented equity strategies with around $24 billion in assets under administration. This partnership is expected to enhance Jackson Square's growth prospects while preserving its independence and entrepreneurial culture. The terms of the transaction were not disclosed, but both companies believe that the partnership is ideal for fostering long-term success.

Affiliated Managers Group (AMG) reported Q3 2020 financial results, stating an EPS of $1.53 and Economic EPS of $3.27. Net income was $71 million, while Economic Net Income reached $152 million. Adjusted EBITDA grew 12% to $181 million. The company repurchased $85 million in common stock and issued a $275 million 40-year hybrid bond, enhancing liquidity. Although AUM declined to $653.5 billion, AMG aims to invest for growth, leveraging its unique model to scale business and deliver long-term shareholder value.

Affiliated Managers Group (NYSE: AMG) will release its third-quarter financial results on October 26, 2020. The company will host a conference call at 8:30 a.m. ET to discuss these results and future expectations. President Jay C. Horgen and CFO Thomas M. Wojcik will lead the call. Interested parties can listen live by calling 1-877-407-8291 (U.S.) or 1-201-689-8345 (international). The call will be available for replay with conference ID 13710888. Details and the presentation will also be accessible on AMG's website.

Affiliated Managers Group, Inc. (NYSE: AMG) has elected Dwight D. Churchill as its new Chairman of the Board, effective immediately. Mr. Churchill, who has been on the board since 2010 and chaired the Audit Committee since 2015, brings extensive experience from his tenure at Fidelity Investments. He expressed enthusiasm about leading the board during a transformative period in the industry and emphasized the importance of attracting top-tier directors to enhance shareholder value. AMG manages approximately $638 billion in assets, focusing on independent investment managers.

Affiliated Managers Group (NYSE: AMG) has appointed Tracy A. Atkinson to its Board of Directors, effective immediately. Atkinson, who retired from State Street Corporation in March 2020, brings over 12 years of leadership experience in asset management. With this addition, 43% of AMG's independent Directors are now female, enhancing the board's diversity. The company manages approximately $638 billion in assets as of June 30, 2020, focusing on long-term value through its unique partnership strategy.

Affiliated Managers Group reported a second-quarter EPS of $0.65, with an economic EPS of $2.74 for Q2 2020. The company achieved a net income of $31 million but faced negative net client cash flows of $18.2 billion. AMG issued a $350 million senior bond to enhance financial flexibility and entered a partnership with Inclusive Capital Partners. During this period, $50 million in common stock was repurchased. AMG continues to focus on growth, despite performance headwinds in certain strategies.

Affiliated Managers Group (NYSE: AMG) is set to release its second-quarter financial results for the period ending June 30, 2020, on July 27, 2020. A conference call at 8:30 a.m. ET will feature discussions by President Jay C. Horgen and CFO Thomas M. Wojcik regarding the company's performance and outlook. Interested parties can join by dialing 1-877-407-8291 (U.S.) or 1-201-689-8345 (internationally). The call, including a replay option, will be accessible via AMG's website as well.

Affiliated Managers Group (NYSE: AMG) announces its minority equity partnership with Inclusive Capital Partners (In-Cap), focusing on responsible capitalism. This follows the successful generational transition at ValueAct Capital, with CEO Mason Morfit leading the firm. Jeff Ubben, founder of ValueAct, will manage the new partnership aiming for sustainable investments. AMG's strategy emphasizes long-term value through collaborations with independent investment managers, reporting $600 billion in assets under management as of March 31, 2020.