AMG
Financial ServicesAffiliated Managers Group, Inc. · Asset Management · $8B
What is Affiliated Managers Group, Inc.?
Affiliated Managers Group is a mid-cap asset management company that partners with independent investment firms to deliver a broad range of investment strategies to institutions, mutual fund investors, and high-net-worth clients worldwide.
AMG generates revenue by acquiring equity stakes in independent asset management firms — called affiliates — and sharing in the economics of their investment management fees. These affiliates serve retail and institutional clients through mutual funds, separately managed accounts, and alternative strategies. Distribution reaches clients directly and through intermediaries such as broker-dealers, retirement plan sponsors, and bank trust departments. The model allows AMG to offer diverse investment styles — from small-cap equity to quantitative and fixed income — without managing assets under a single brand.
Affiliated Managers Group was formed in 1993 and is headquartered in West Palm Beach, Florida.
- Advisory and subadvisory services for mutual funds
- Institutional investment strategies across equity styles and geographies
- Alternative and quantitative investment products
- Customized investment counseling and fiduciary services
- Endowment, foundation, and defined benefit plan management
Is AMG a Good Stock to Buy?
UQS Score rates AMG as Good overall, reflecting a mixed profile across its five quality pillars.
The Quality pillar stands out as a clear strength, suggesting AMG generates reliable earnings and maintains financial discipline relative to sector peers. Valuation is rated Attractive, meaning the stock may offer a reasonable entry point compared to its fundamental profile — a combination that can appeal to value-oriented investors in the asset management space.
The Moat and Risk pillars both register as Weak, indicating limited competitive differentiation and above-average risk factors that investors should weigh carefully. Growth is rated Neutral, suggesting the business is not in an expansion phase that would meaningfully re-rate the stock.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does AMG pay dividends?
Yes — Affiliated Managers Group, Inc. pays a dividend.
AMG pays a regular dividend, which is relatively uncommon among asset managers that prioritize capital returns to shareholders. The dividend reflects the company's ability to generate consistent fee-based cash flows through its affiliate model. Income-oriented investors may find this appealing, though the Weak Risk pillar rating suggests reviewing the sustainability of distributions alongside broader business conditions.
When does AMG report earnings?
Affiliated Managers Group reports earnings on a quarterly cadence, typical for US-listed equities.
AMG's earnings profile reflects the fee-sharing dynamics of its affiliate model, where results can vary with market conditions and assets under management flows. The Quality pillar rating suggests the underlying earnings quality has been relatively consistent, even as growth has remained neutral. For the most current quarterly results, the company's investor relations page is the authoritative source.
For the most recent quarter's results, see Affiliated Managers Group's investor relations page.
AMG Price History
+83.4% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Affiliated Managers Group, Inc.?
Based on Affiliated Managers Group, Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
AMG Long-term Outlook
AMG's fundamental outlook is shaped by the interplay between its Neutral Growth profile and Weak Risk rating. The affiliate model provides revenue diversification across strategies and geographies, but fee pressure across the asset management industry and potential outflows from underperforming affiliates create headwinds. The Attractive Valuation label suggests the market may already be pricing in some of these concerns, leaving room for upside if affiliate performance stabilizes or improves.
Growth drivers
- Expansion of affiliate partnerships into new geographies and alternative strategies
- Recovery in institutional and retail asset flows as market conditions improve
- Capital return programs supported by consistent fee-based cash generation
Key risks
- Fee compression across the active asset management industry
- Affiliate underperformance leading to client outflows and reduced revenue sharing
- Elevated risk profile that could weigh on earnings stability in volatile markets
AMG vs Peers
AMG operates in a competitive asset management landscape alongside firms with distinct business models and capital structures.
Oxford Lane represents a fixed-income debt instrument rather than an equity stake in an operating asset manager, offering a fundamentally different risk and return profile.
Janus Henderson operates as a fully integrated active asset manager with its own branded investment strategies, contrasting with AMG's affiliate partnership model.
Onex is a Canadian alternative asset manager and private equity firm, competing with AMG in the alternatives space while also deploying its own balance sheet capital.
Frequently Asked Questions
What does Affiliated Managers Group do?
Affiliated Managers Group acquires equity stakes in independent asset management firms and shares in their investment management fee revenue. These affiliates manage assets across equity, fixed income, alternative, and quantitative strategies for mutual fund investors, institutions, and high-net-worth individuals globally.
Does AMG pay dividends?
Yes, AMG pays a regular dividend. The company's fee-sharing model with affiliates generates recurring cash flows that support shareholder distributions. Investors should review the current dividend details on AMG's investor relations page, as amounts and timing can change.
When does AMG report earnings?
Affiliated Managers Group reports earnings on a quarterly cadence, consistent with US-listed public companies. For exact dates and the most recent results, visit the company's investor relations page directly.
Is AMG a good stock to buy?
UQS Score rates AMG as Good overall. The Quality pillar is Strong and Valuation is Attractive, which may interest value-focused investors. However, the Moat and Risk pillars are both Weak, which warrants careful consideration. The full pillar breakdown is available to UQS Pro members.
Is AMG overvalued?
The UQS Valuation pillar for AMG is rated Attractive, suggesting the stock is not considered overvalued relative to its fundamental profile. This can indicate the market has priced in existing risks, though valuation alone should not drive investment decisions without considering the full quality picture.
How does AMG compare to its competitors?
AMG's affiliate partnership model distinguishes it from fully integrated managers like Janus Henderson, which operates under its own brand. Compared to alternative-focused firms, AMG offers broader strategy diversification. The UQS competitor comparison module on this page provides a side-by-side quality score view.
What is AMG's market cap bracket?
Affiliated Managers Group is classified as a mid-cap company. This places it in a segment of the market that can offer a balance between growth potential and established business operations, though mid-cap stocks can carry more volatility than large-cap peers.
Who founded Affiliated Managers Group?
Affiliated Managers Group was formed in 1993. Founding context and leadership history are publicly available through the company's official investor relations materials and financial filings.
Is AMG a long-term quality investment?
From a long-term quality perspective, AMG's Strong Quality pillar and Attractive Valuation are positive indicators. However, the Weak Moat rating suggests limited durable competitive advantages, and the Weak Risk pillar points to factors that could affect consistency over time. Pro members can view the complete analysis.
What is the main competitive advantage of Affiliated Managers Group?
AMG's primary structural advantage is its affiliate model, which provides revenue diversification across dozens of independent investment managers and strategies. However, the UQS Moat pillar rates this as Weak, reflecting the competitive pressures facing active asset management broadly and the limited pricing power in the industry.
What sector does AMG belong to?
AMG operates in the Financial Services sector, specifically within asset management. The sector is characterized by fee-based revenue models, sensitivity to market conditions and asset flows, and increasing competition from passive investment vehicles.
Is AMG a growth stock or value stock?
Based on its UQS profile, AMG leans toward value characteristics. The Growth pillar is rated Neutral, indicating limited near-term expansion signals, while the Valuation pillar is Attractive — a combination more consistent with a value-oriented investment thesis than a high-growth profile.
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Pro Analysis
AMG — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 21, 2026 | 62.1 | 92.9 | 36.0 | 53.9 | 30.1 | 97.3 | -0.1 |
| May 20, 2026 | 62.2 | 92.9 | 36.0 | 53.9 | 30.1 | 97.7 | +0.1 |
| May 17, 2026 | 62.1 | 92.9 | 36.0 | 53.9 | 30.1 | 97.5 | -0.1 |
| May 16, 2026 | 62.2 | 92.9 | 36.0 | 53.9 | 30.1 | 97.7 | +0.1 |
| May 12, 2026 | 62.1 | 92.9 | 36.0 | 53.9 | 30.1 | 97.2 | 0.0 |
| May 11, 2026 | 62.1 | 92.9 | 36.0 | 53.9 | 30.1 | 97.1 | +0.2 |
| May 10, 2026 | 61.9 | 92.9 | 36.0 | 53.9 | 30.1 | 95.7 | -0.1 |
| May 9, 2026 | 62.0 | 92.9 | 36.0 | 53.9 | 30.1 | 96.9 | +0.9 |
| May 8, 2026 | 61.1 | 92.9 | 36.0 | 49.0 | 30.1 | 97.1 | 0.0 |
| May 4, 2026 | 61.1 | 92.9 | 36.0 | 49.0 | 30.1 | 97.3 | -0.1 |
AMG — Pillar Breakdown
Quality
— 92.9/100 (25%)Affiliated Managers Group, Inc. demonstrates outstanding capital efficiency and profitability, placing it among the highest-quality businesses in the market.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Free cash flow relative to market value.
Growth
— 53.9/100 (20%)Affiliated Managers Group, Inc. shows steady but unspectacular growth, typical for mature companies.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 30.1/100 (15%)Affiliated Managers Group, Inc. presents elevated risk with concerns around leverage or financial stability.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 98.3/100 (15%)Affiliated Managers Group, Inc. appears attractively valued relative to its earnings, cash flows, and sector peers.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 36/100 (25%)Affiliated Managers Group, Inc. possesses some competitive advantages but faces meaningful competition. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for AMG.
Score Composition
Financial Data
More Stock Analysis
How is the AMG UQS Score Calculated?
The UQS (Unified Quality Score) for Affiliated Managers Group, Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Affiliated Managers Group, Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Affiliated Managers Group, Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.