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Affiliated Managers Group (AMG): Reassessing Valuation After Q3 Miss, AUM Beat and Capital Structure Moves

Simply Wall St · 2d ago

Affiliated Managers Group (AMG) just delivered a mixed third quarter, slightly missing revenue expectations but beating assets under management estimates, and the market is paying attention as analysts warm to its long term setup.

See our latest analysis for Affiliated Managers Group.

The share price has pushed to fresh highs, with a 1 month share price return of around 12 percent and a year to date share price return above 50 percent, while multi year total shareholder returns suggest momentum is still building rather than fading.

If AMG's move has you rethinking what quality in financials looks like, this could be a good moment to widen your search and explore fast growing stocks with high insider ownership.

With earnings momentum, analyst upgrades, and shares near record highs, investors now face a key question: does AMG still trade at a discount to its fundamentals, or is the market already pricing in years of future growth?

Most Popular Narrative: 6.5% Undervalued

With Affiliated Managers Group last closing at $287.67 against a narrative fair value of about $307.71, the story leans toward further upside if its assumptions stick.

AMG's disciplined capital allocation deploying nearly $1.2 billion across growth investments and share repurchases in the first half of 2025 points to ongoing per share earnings growth and return on equity expansion, with substantial buybacks expected to continue compounding shareholder value through enhanced EPS.

Read the complete narrative.

Curious how steady but moderate revenue growth, rising margins, shrinking share count, and a lower future earnings multiple can still add up to upside potential? The full narrative unpacks the math behind that gap.

Result: Fair Value of $307.71 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, the narrative could unravel if alternative asset fundraising slows sharply or if key affiliates like Pantheon and AQR stumble on performance or retention.

Find out about the key risks to this Affiliated Managers Group narrative.

Build Your Own Affiliated Managers Group Narrative

If you see the story differently or want to stress test the assumptions with your own research and inputs, you can build a custom view in just a few minutes, Do it your way.

A great starting point for your Affiliated Managers Group research is our analysis highlighting 2 key rewards and 1 important warning sign that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.