Affiliated Managers Group delivers 36% operating margins, a perfect Piotroski financial strength score of 9 out of 9, and four consecutive earnings beats, and screens attractively at a forward multiple of 9 times with a PEG ratio near 1.1; however, free cash flow converts at only 31% of net income, RSI sits at an overbought 80, and the stock is just 1.0% below its near-term resistance target — the setup favors patience over adding.
Thesis pillars
- Peer Relative Quality Superiority→Stable
- Poor Free Cash Conversion→Stable
- Consistent Earnings Beat Streak↑Improving
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Feb 17, 2026
Affiliated Managers Group, Inc. (AMG) Stock Analysis
Breakout setup
Financial Services · Asset Management
Hold if already holding. Not a fresh buy at $391.99, but acceptable to hold if already in. Reasons: Analyst target reached - limited upside remaining; Near 52-week high (1.8% away).
Affiliated Managers Group holds equity stakes in independent investment management firms (Affiliates) that collectively managed $813 billion in AUM at December 31, 2025, across private markets ($146B), liquid alternatives ($227B), equities ($312B), and multi-asset/fixed income... Read more
Hold if already holding. Not a fresh buy at $391.99, but acceptable to hold if already in. Reasons: Analyst target reached - limited upside remaining; Near 52-week high (1.8% away). Chart setup: Golden cross, above all MAs, RSI 61, MACD bullish. Maintain position. Not compelling to add more. Score 6.7/10, high confidence.
Passes 6/8 gates (positive momentum, clean insider activity, no SEC red flags, news events none recent, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio and earnings proximity 4d<=7d. Suitability: moderate.
About Affiliated Managers Group, Inc.
About Affiliated Managers Group, Inc.
Affiliated Managers Group's Affiliates managed $813 billion in AUM at December 31, 2025—$146 billion in private markets, $227 billion in liquid alternatives, $312 billion in equities, and $128 billion in multi-asset/fixed income. The majority of Affiliates are registered with the SEC under the Investment Advisers Act of 1940, with UK-active Affiliates regulated by the Financial Conduct Authority. AMG employed approximately 250 direct staff of the roughly 5,600 total AMG and Affiliate employees at year-end 2025.
AMG's revenue derives from structured partnership interests in each Affiliate under two primary structures: a contractual share of Affiliate revenue without regard to expenses (comprising Affiliates that generate a majority of consolidated revenue), or a share of revenue less agreed-upon expenses. Fee income varies by Affiliate investment performance, product mix, and AUM levels. Performance-based fees—which include high-watermark provisions requiring underperforming products to recover prior losses before new fees accrue—can fluctuate significantly period to period. Growth investments have shifted over more than three decades toward alternative strategies in private markets and liquid alternatives. Distribution capabilities extend to institutional and wealth clients across the U.S., Europe, UK, Middle East, and Asia. AMG's U.S. wealth distribution subsidiary is registered with the SEC and sponsors mutual funds under the Investment Company Act; its UK institutional subsidiary is regulated by the Financial Conduct Authority.
Show full overview
The filing discloses that certain Affiliates contribute more significantly to AMG's results and that changes in their fee levels 'could have a disproportionate adverse impact' on the company's financial condition. This exposure is compounded by investment management contracts that are typically terminable without penalty on notice not longer than 60 days, making high-contribution Affiliates' client bases sensitive to rapid withdrawal. AMG carried $2.7 billion in outstanding debt and $285.0 million in unfunded general partner and seed capital commitments at December 31, 2025, meaning any sudden Affiliate AUM contraction could simultaneously compress revenues and constrain financial flexibility.
See also: Financial Services · Asset Management
From Affiliated Managers Group, Inc.'s most recent 10-K filing, extracted June 9, 2026.
Recent developments
updated 2026-10-28Recent Developments — Affiliated Managers Group, Inc.
Latest news
- NEWS Empowered Funds LLC Grows Position in Affiliated Managers Group, Inc. $AMG - MarketBeat — MarketBeat neutral
- NEWS Affiliated Managers Group (AMG) Q2 Earnings: What To Expect - StockStory — StockStory neutral
- NEWS Affiliated Managers Group (AMG) Q2 Earnings: What To Expect - TradingView — TradingView neutral
- NEWS Affiliated Managers Group (AMG) Q2 Earnings: What To Expect - tradingview.com — tradingview.com neutral
- NEWS Affiliated Managers Group (AMG) Q2 Earnings: What To Expect - FinancialContent — FinancialContent neutral
Generated 2026-10-28T11:28:53Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
1 ceiling hit
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Hold if already holding. Not a fresh buy at $391.99, but acceptable to hold if already in. Reasons: Analyst target reached - limited upside remaining; Near 52-week high (1.8% away). Chart setup: Golden cross, above all MAs, RSI 61, MACD bullish. Maintain position. Not compelling to add more. Analyst target $387.77 reached (−1.1%), stop $369.25 (−6.2%), A.R:R -0.1:1. Score 6.7/10, high confidence.
Analyst target $387.77 reached (−1.1% from $391.99); no take-profit level is published. Analyst target $387.77 reached (−1.1%), stop $369.25 (−6.2%), A.R:R -0.1:1. Stop-loss: $369.25.
Analyst target reached - limited upside remaining; Near 52-week high (1.8% away); Earnings in 4 days (event risk).
Affiliated Managers Group, Inc. trades at a P/E of 13.7 (forward 9.1). TrendMatrix value score: 6.6/10. Verdict: Hold.
10 analysts cover AMG with a consensus score of 4.3/5. Average price target: $446.
What does Affiliated Managers Group, Inc. do?Affiliated Managers Group holds equity stakes in independent investment management firms (Affiliates) that collectively...
Affiliated Managers Group holds equity stakes in independent investment management firms (Affiliates) that collectively managed $813 billion in AUM at December 31, 2025, across private markets ($146B), liquid alternatives ($227B), equities ($312B), and multi-asset/fixed income ($128B). AMG earns revenue through structured partnership interests, receiving a contractual share of each Affiliate's revenue or revenue less expenses.