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AMG Stock Analysis: Top Mid-Cap Hold (Score 61.1/100) | Blank Capital Research | Blank Capital Research
AMG
AFFILIATED MANAGERS GROUP, INC.
$285.36
-0.96 (-0.34%)
Score61.1
Data as of Apr 6, 2026
AMG
AFFILIATED MANAGERS GROUP, INC.
FinancialsTrading
$285.36
-0.96 (-0.34%)
Open $285.58High $286.33Low $280.66Prev $286.32Vol ---52W: $139.22 – $334.78
Hold
Composite score
01234567890123456789.0123456789
Global rank
#700
Percentile
Top 16%
Business quality
79th
percentile
Exceptional capital efficiency and structural profitability. This enterprise generates superior returns on invested capital compared to industry peers.
Affiliated Managers Group, Inc. (AMG) is a global asset management company that invests in a diversified group of boutique investment firms, particularly those focused on alternative strategies like private equity, private credit, and specialized value.
Investment Thesis
AMG is a master of capital allocation in the asset management space. By taking significant equity stakes in high-performing boutique firms while allowing them to maintain operational independence, AMG creates a powerful alignment of interests. Their portfolio is heavily weighted toward 'Alpha-generating' strategies that are resistant to the passive indexing trend. As institutional investors increasingly shift capital toward private markets and specialized alternatives, AMG's affiliates are perfectly positioned to capture these high-margin inflows. The company utilizes its massive free cash flow to ruthlessly buy back shares at deep discounts, turbocharging its earnings per share growth.
Key Growth Drivers
Alternative Strategy Tailwinds
A large and growing portion of AMG's earnings comes from illiquid and specialized alternative strategies, which command premium fees and have 'sticky' client capital.
Relentless Share Buybacks
AMG is one of the most aggressive repurchasers of its own stock in the financial sector, often retiring 5-10% of its float annually, creating a powerful engine for EPS growth.
Boutique Independence Moat
Their unique model allows talented investment teams to remain independent, preventing the 'talent drain' that typically plagues large bank-owned asset managers.
Valuation & Financial Modeling
AMG trades at a significant discount to its peer group and historical averages. The market often misinterprets its lumpy performance fees as low-quality, missing the underlying stability and compounding power of its core boutique earnings. We view the current multiple as an exceptional entry point for a high-quality financial aggregator.
Risk Factors & Bear Case
A broad market downturn would simultaneously reduce the AUM of their affiliates and trigger performance fee reversals. Additionally, if several of their largest boutique partners suffer simultaneous underperformance, it would lead to significant AUM outflows.
Conclusion
Affiliated Managers Group is a premier vehicle for gaining exposure to the growth of private and alternative markets. It is a masterclass in shareholder-friendly capital allocation. Rated 'Strong Buy'.
Upcoming Catalysts
No upcoming catalysts identified.
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Relative valuation derived from Financials sector median benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Multiples adjusted for extreme outliers and non-recurring volatility.
Auditing capital efficiency...
Quality Profile Audit
Score: 79.1GRADE B+
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation.
Return on Equity
Profit generated per dollar of shareholder equity
17.1%
Sector: 8.5%
Dividend Analysis audit
GROWTH
0.02%
Trailing Yield
$0.02
Per $100 Invested
Modest dividend — capital prioritized for reinvestment.
Est. Payout Ratio
0%SAFE
Analyst Projections
Analyst Consensus
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Based on our 6-factor quantitative model, AFFILIATED MANAGERS GROUP, INC. (AMG) receives a "Hold" rating with a composite score of 61.1/100, ranked #700 out of 4446 stocks. Key factor scores: Quality 79/100, Value 56/100, Momentum 59/100. This is quantitative analysis only — not investment advice.
AFFILIATED MANAGERS GROUP, INC. (AMG) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does AFFILIATED MANAGERS GROUP, INC. Do?
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. Affiliated Managers Group, Inc. was formed in 1993 and is based in West Palm Beach, Florida with additional offices in Prides Crossing, Massachusetts; Stamford, Connecticut; London, United Kingdom; Dubai, United Arab Emirates; Sydney, Australia; Hong Kong; Tokyo, Japan, Zurich, Switzerland and Delaware. AFFILIATED MANAGERS GROUP, INC. (AMG) is classified as a mid-cap stock in the Financials sector, specifically within the Trading industry. The company is led by CEO Jay C. Horgen and employs approximately 3,950 people, headquartered in West Palm Beach, Florida. With a market capitalization of $7.3B, AMG is one of the notable companies in the Financials sector.
AFFILIATED MANAGERS GROUP, INC. (AMG) Stock Rating — Hold (April 2026)
As of April 2026, AFFILIATED MANAGERS GROUP, INC. receives a Hold rating with a composite score of 61.1/100 and 3 out of 5 stars from the Blank Capital Research quantitative model.AMG ranks #700 out of 4,446 stocks in our coverage universe. Within the Financials sector, AFFILIATED MANAGERS GROUP, INC. ranks #207 of 891 stocks, placing it in the top quartile of its Financials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
AMG Stock Price and 52-Week Range
AFFILIATED MANAGERS GROUP, INC. (AMG) currently trades at $285.36. The stock lost $0.96 (0.3%) in the most recent trading session. The 52-week high for AMG is $334.78, which means the stock is currently trading -14.8% from its annual peak. The 52-week low is $139.22, putting the stock 105.0% above its annual trough. Recent trading volume was 310K shares, suggesting relatively thin trading activity.
Is AMG Overvalued or Undervalued? — Valuation Analysis
AFFILIATED MANAGERS GROUP, INC. (AMG) carries a value factor score of 56/100 in the Blank Capital model, indicating fair valuation relative to historical norms. The trailing price-to-earnings ratio is 10.74x, compared to the Financials sector average of 14.88x — a discount of 28%. The price-to-book ratio stands at 1.83x, versus the sector average of 1.22x. The price-to-sales ratio is 3.76x, compared to 0.90x for the average Financials stock. On an enterprise value basis, AMG trades at 27.15x EV/EBITDA, versus 3.26x for the sector.
Overall, AMG's valuation appears roughly in line with sector benchmarks, suggesting the market is pricing the stock fairly given its current fundamentals and growth trajectory. Neither deep value nor significantly overpriced, the stock occupies a middle ground on valuation.
AFFILIATED MANAGERS GROUP, INC. Profitability — ROE, Margins, and Quality Score
AFFILIATED MANAGERS GROUP, INC. (AMG) earns a quality factor score of 79/100, reflecting elite profitability and capital efficiency that places it among the highest-quality businesses in the market. The return on equity (ROE) is 17.1%, compared to the Financials sector average of 8.5%, which is within a healthy range. Return on assets (ROA) comes in at 7.7% versus the sector average of 1.2%.
On a margin basis, AFFILIATED MANAGERS GROUP, INC. reports gross margins of 0.0%. The operating margin is 18.6% (sector: 21.8%). Net profit margin stands at 34.6%, versus 17.7% for the average Financials stock. Revenue growth is running at 5.5% on a trailing basis, compared to 9.4% for the sector. These metrics collectively paint a picture of a highly profitable business with durable competitive advantages.
AMG Debt, Balance Sheet, and Financial Health
AFFILIATED MANAGERS GROUP, INC. has a debt-to-equity ratio of 64.0%, compared to the Financials sector average of 121.0%. Leverage is within a manageable range for the industry, though investors should monitor debt trends over time. The current ratio is 1.92x, suggesting adequate working capital coverage. Total debt on the balance sheet is $2.69B. Cash and equivalents stand at $476M.
AMG has a beta of 1.17, meaning it is roughly in line with the broader market in terms of price volatility. The stability factor score for AFFILIATED MANAGERS GROUP, INC. is 69/100, reflecting average volatility within the normal range for its sector.
AFFILIATED MANAGERS GROUP, INC. Revenue and Earnings History — Quarterly Trend
In TTM 2026, AFFILIATED MANAGERS GROUP, INC. reported revenue of $2.03B and earnings per share (EPS) of $25.18. Net income for the quarter was $712M. Gross margin was 0.0%. Operating income came in at $381M.
In FY 2025, AFFILIATED MANAGERS GROUP, INC. reported revenue of $2.07B and earnings per share (EPS) of $25.18. Net income for the quarter was $904M. Revenue grew 1.6% year-over-year compared to FY 2024. Operating income came in at $269M.
In Q3 2025, AFFILIATED MANAGERS GROUP, INC. reported revenue of $528M and earnings per share (EPS) of $7.47. Net income for the quarter was $291M. Revenue grew 2.2% year-over-year compared to Q3 2024. Operating income came in at $119M.
In Q2 2025, AFFILIATED MANAGERS GROUP, INC. reported revenue of $493M and earnings per share (EPS) of $2.96. Net income for the quarter was $136M. Revenue grew -1.4% year-over-year compared to Q2 2024. Operating income came in at $81M.
Over the past 8 quarters, AFFILIATED MANAGERS GROUP, INC. has demonstrated a growth trajectory, with revenue expanding from $500M to $2.03B. Investors analyzing AMG stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
AMG Dividend Yield and Income Analysis
AFFILIATED MANAGERS GROUP, INC. (AMG) currently pays a dividend yield of 0.0%. At this yield, a $10,000 investment in AMG stock would generate approximately $$2.00 in annual dividend income. This compares to the Financials sector average dividend yield of 2.5%, meaning AMG yields less than the typical sector peer. With a net margin of 34.6%, the dividend appears well-covered by earnings, suggesting sustainable payouts going forward.
AMG Momentum and Technical Analysis Profile
AFFILIATED MANAGERS GROUP, INC. (AMG) has a momentum factor score of 59/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 31/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 42/100 reflects moderate short selling activity.
AMG vs Competitors — Financials Sector Ranking and Peer Comparison
Comparing AMG against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full AMG vs S&P 500 (SPY) comparison to assess how AFFILIATED MANAGERS GROUP, INC. stacks up against the broader market across all factor dimensions.
AMG Next Earnings Date
No upcoming earnings date has been announced for AFFILIATED MANAGERS GROUP, INC. (AMG) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy AMG? — Investment Thesis Summary
AFFILIATED MANAGERS GROUP, INC. presents a balanced picture with arguments on both sides. The quality score of 79/100 indicates above-average profitability and business fundamentals. Low volatility (stability score 69/100) reduces downside risk.
In summary, AFFILIATED MANAGERS GROUP, INC. (AMG) earns a Hold rating with a composite score of 61.1/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on AMG stock.
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Execution Benchmarks audit
Revenue Growth
YOY expansion rate
5.5%
Sector: 9.4%
-41% VS SCTR
Gross Margin
Core pricing power
0.0%
Sector: 0.0%
-NaN% VS SCTR
Operating Margin
Operating efficiency
18.6%
Sector: 21.8%
-15% VS SCTR
Net Margin
Bottom-line conversion
34.6%
Sector: 17.7%
+95% VS SCTR
Return on Equity
Equity capital efficiency
17.1%
Sector: 8.5%
+100% VS SCTR
Return on Assets
Asset base utilization
7.7%
Sector: 1.2%
+528% VS SCTR
Debt/Equity
Financial leverage load
64.0%
Sector: 121.0%
+47% VS SCTR
Dividend Yield
Direct cash return
0.0%
Sector: 2.5%
-99% VS SCTR
+50%
Price / Sales
3.8x
+318%
AFFILIATED MANAGERS GROUP, INC. exhibits a 268% valuation premium relative to institutional benchmarks. This represents a potential valuation overextension based on current multiples.
Return on Assets
Efficiency of asset utilization
7.7%
Sector: 1.2%
Gross Margin
Pricing power and cost efficiency
0.0%
Sector: 0.0%
Operating Margin
Core business profitability
18.6%
Sector: 21.8%
Net Margin
Bottom-line profitability
34.6%
Sector: 17.7%
Factor Methodology
The Quality factor evaluates the persistence and magnitude of cash flows. Companies with scores >70 exhibit superior competitive moats and financial resilience through economic cycles.
Sector Avg Yield2.48%
Yield Delta-99%
Income Projection audit
A $10,000 investment would generate approximately $2 annually in dividends at the current trailing rate.