AP NEWS
ADVERTISEMENT

Affiliated Managers: 4Q Earnings Snapshot

February 8, 2021 GMT

WEST PALM BEACH, Fla. (AP) _ Affiliated Managers Group Inc. (AMG) on Monday reported fourth-quarter profit of $115.9 million.

The West Palm Beach, Florida-based company said it had profit of $2.54 per share. Earnings, adjusted for non-recurring costs, were $4.22 per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $3.73 per share.

The asset manager posted revenue of $554.4 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $522 million.

ADVERTISEMENT

For the year, the company reported profit of $202.2 million, or $4.33 per share. Revenue was reported as $2.03 billion.

Affiliated Managers shares have increased 11% since the beginning of the year. The stock has climbed 35% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMG at https://www.zacks.com/ap/AMG