Analyst Consensus ?
ConsensusBuy12 ratings
Bullish12100.0%
Neutral00.0%
Bearish00.0%
Affiliated Managers Group, Inc. · AMG · FY2024 Q4 · Calendar Q1 2025
AMG’s FY2024 Results Show Alternatives’ Growing Role, With Flow Risks Still in View
AMG’s FY2024 call supports a measured case that growing private-market and liquid-alternative businesses can broaden earnings drivers. That case depends on sustained fundraising and demand, while equity outflows and weaker performance fees remain meaningful counterweights.
What drove AMG's +0.2% move after FY2024 Q4 earnings?
Research this report with FN2. Free to start; review your question before sending.
Reported Before market openNYSEFinancial Services
$10.38B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $6.03
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $530.5M
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+0.2%
Event window
SPY move
+0.3%
Same window
Abnormal move
-0.2%
Stock minus SPY
Volume
1.6×
Versus trailing sessions
Subsequent drift
-12.7%
Up to 20 sessions
AMGSPY benchmark
Ask FN2 about AMG FY2024 Q4
Choose a question to continue your research
What drove AMG's +0.2% move after FY2024 Q4 earnings?What changed in AMG's guidance and outlook in FY2024 Q4?Give me the bull and bear case for AMG after FY2024 Q4 earnings.
Free to start. Your question opens in chat for you to review and send. FN2 can look up the transcript, financials and prior quarters.
Transcript intelligence
What changed
Management reported record 2024 economic EPS, up 10% year over year, and $24 billion of private-market fundraising, including $6 billion in Q4. The call also highlighted a minority investment in NorthBridge Partners, extending the affiliate platform into industrial-logistics real estate. This builds on the prior quarter’s emphasis on alternative strategies, product launches, and affiliate investment opportunities.
Guidance delta
The supplied analysis characterizes guidance sentiment as maintained and reports Q1 2025 adjusted EBITDA guidance of $220–$230 million and EPS of $5.02–$5.26. No prior comparable guidance is supplied here, so a numerical change cannot be established.
Key takeaways
- Economic EPS increased 10% to $21.36 in 2024, according to the supplied call analysis.
- Private-market fundraising reached a reported record $24 billion for 2024; $6 billion was raised in Q4.
- Alternatives, including private markets and liquid alternatives, are becoming more prominent contributors to earnings and fee growth.
- The Q1 2025 outlook is adjusted EBITDA of $220–$230 million and EPS of $5.02–$5.26; reported-versus-consensus actuals are unavailable in the supplied facts.
Management priorities
- Expand private-market and liquid-alternative offerings, including planned evergreen products in credit secondaries and infrastructure.
- Develop potential actively managed ETFs and continue expanding the U.S. wealth platform.
- Pursue further minority and majority investments in alternative affiliates.
- Continue share repurchases, with a stated 2025 target of $400 million.
Follow AMG with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$403.2Current
$192Low
$337Average
$425High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 11, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| TD Cowen | Buy | Buy | Maintain | Nov 10, 2026 |
| Barrington Research | Outperform | Outperform | Maintain | Apr 27, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Jan 6, 2026 |
| B of A Securities | Buy | Buy | Maintain | Oct 2, 2025 |
| Deutsche Bank | Buy | Buy | Maintain | Feb 10, 2025 |
| Keefe, Bruyette & Woods | Outperform | Outperform | Maintain | May 2, 2023 |
| Jefferies | Buy | Hold | Upgrade | Nov 28, 2022 |
| Credit Suisse | Outperform | Outperform | Maintain | Nov 8, 2022 |
| Citigroup | Buy | Buy | Maintain | Apr 12, 2022 |
| Keefe Bruyette & Woods | Outperform | Market Perform | Upgrade | Jul 31, 2018 |
| ABN Amro | Buy | Hold | Upgrade | May 9, 2016 |
| Bank of America | Buy | Buy | Maintain | Oct 14, 2014 |
Named analyst price targets
Upside is calculated against the persisted current price $403.2. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Barrington | Alexander Paris | $425 | $366.73 | +5.4% | Jul 31, 2026 |
| Deutsche Bank | Analyst unavailable | $400 | $303.62 | -0.8% | May 4, 2026 |
| Goldman Sachs | Analyst unavailable | $405 | $291.07 | +0.4% | May 4, 2026 |
| Deutsche Bank | Brian Bedell | $408 | $321.91 | +1.2% | Feb 13, 2026 |
| Goldman Sachs | Alexander Blostein | $341 | $303.57 | -15.4% | Jan 6, 2026 |
| UBS | Analyst unavailable | $295 | $252.62 | -26.8% | Nov 4, 2025 |
| Jefferies | Daniel Fannon | $282 | $256.56 | -30.1% | Nov 4, 2025 |
| Barrington | Analyst unavailable | $285 | $239.95 | -29.3% | Oct 8, 2025 |
| Deutsche Bank | Brian Bedell | $204 | $177.8 | -49.4% | Nov 5, 2024 |
| Deutsche Bank | Brian Bedell | $202 | $183.9 | -49.9% | Jul 29, 2024 |
| Barrington | Alexander Paris | $190 | $168.97 | -52.9% | Apr 9, 2024 |
| Deutsche Bank | Brian Bedell | $190 | $163.89 | -52.9% | Apr 5, 2024 |
| Deutsche Bank | Analyst unavailable | $192 | $170.4 | -52.4% | Feb 7, 2023 |
| Barrington | Analyst unavailable | $195 | $170.52 | -51.6% | Feb 7, 2023 |
| Jefferies | Analyst unavailable | $192 | $156.88 | -52.4% | Nov 28, 2022 |
| Deutsche Bank | Analyst unavailable | $171 | $156.13 | -57.6% | Nov 15, 2022 |
| Deutsche Bank | Analyst unavailable | $163 | $139.64 | -59.6% | Aug 12, 2022 |
| Deutsche Bank | Analyst unavailable | $133 | $113.09 | -67.0% | Jul 13, 2022 |
| Deutsche Bank | Analyst unavailable | $152 | $124.47 | -62.3% | May 19, 2022 |
Track every rating change on AMG the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationAffiliated Managers Group, Inc. (AMG) functions as an asset management firm, leveraging its network of affiliates to provide comprehensive investment management solutions. Its primary clientele in the United States includes mutual funds, institutional investors, and high-net-worth individuals. AMG additionally offers advisory and subadvisory services to mutual funds, which are distributed to retail and institutional clients through direct channels and a wide range of intermediaries. These intermediaries encompass independent financial advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.…
Historical context
All AMG earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| BAP Credicorp Ltd. | FY2026 Q3 · Calendar Q4 2026 | -2.6% | +3.3% | Credicorp maintains 2026 guidance as lending and fee growth meet El Niño risks |
| CIB Grupo Cibest S.A. | FY2026 Q3 · Calendar Q4 2026 | -10.1% | -4.0% | Grupo Cibest raises loan-growth outlook as commercial lending and Nequi underpin Q3 |
| MGRE Affiliated Managers Group, Inc. | FY2026 Q3 · Calendar Q4 2026 | +8.1% | +0.6% | AMG: Alternatives drive record Q3 as firm maintains Q4 outlook |
| MGRD Affiliated Managers Group, Inc. | FY2026 Q3 · Calendar Q4 2026 | +8.1% | +1.4% | AMG’s Q3 Growth Centers on Alternatives, Inflows and Buybacks |
| MGRB Affiliated Managers Group, Inc. | FY2026 Q3 · Calendar Q4 2026 | +8.1% | +1.4% | AMG’s alternatives-led growth strengthens, while revenue misses estimates |
| KKR KKR & Co. Inc. | FY2026 Q3 · Calendar Q4 2026 | +12.7% | +1.7% | KKR’s record quarter pairs fee growth with deployment and liquidity |
Latest beats and misses
Who reports nextBeat on EPS
- VGFY2026 Q3 · November 10, 2026+92.7% EPS+1.7% move
- TDGFY2026 Q4 · November 10, 2026+1.9% EPS+0.5% move
- ONONFY2026 Q3 · November 10, 2026+39.9% EPS-7.5% move
- CRWVFY2026 Q3 · November 10, 20260.0% EPS-0.5% move
- OXYFY2026 Q3 · November 9, 2026+30.8% EPS+2.0% move
- MGREFY2026 Q3 · November 9, 2026+8.1% EPS+0.6% move
Missed on EPS
- EMBJFY2026 Q3 · November 10, 2026-49.4% EPS+7.0% move
- VODFY2027 Q2 · November 10, 2026-72.8% EPS-1.2% move
- SEFY2026 Q3 · November 10, 2026-5.1% EPS-1.5% move
- BAPFY2026 Q3 · November 9, 2026-2.6% EPS+3.3% move
- JBSFY2026 Q3 · November 9, 2026-28.6% EPS-5.5% move
- CIBFY2026 Q3 · November 9, 2026-10.1% EPS-4.0% move
Get the AMG recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2025-02-04T14:28:49.640658+00:00
- Polygon adjusted daily market bars · 2026-11-11T12:30:44.963691+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-11T12:30:44.960861+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-11. For educational purposes only; not investment advice.