Affiliated Managers Group Repurchased About $375 Million of Stock in 6 Months
Affiliated Managers Group (AMG) stock has risen 62% over the past year. The company repurchased $189 million in shares in Q2, totaling $375 million in 2024. AMG plans to buy back $600 million in shares this year. It reported $641 million in Q2 revenue and $237 million in net income, with $942 billion in assets under management. AMG anticipates Q3 adjusted EBITDA of $315-325 million and economic EPS of $8.43-$8.71.
How this was made

The 30-second read
Why it matters
The earnings beat and aggressive buyback program suggest a bullish outlook for AMG, potentially prompting short‑covering and new buying.
Market read
AMG's strong earnings and sizable buyback plan make it a notable mover in the asset‑management space.
What to watch
High exposure to private‑market assets could face liquidity pressure if market conditions tighten.
Background
Affiliated Managers Group reported Q2 results, highlighted a 30% revenue jump, and outlined a $600M share repurchase target for the year.
Ticker impact
AMG disclosed Q2 results with revenue up 30% and announced a $600M full-year share repurchase plan, including a $189M buyback in Q2 and guidance for Q3 EBITDA and EPS.
Potential upside of 5-8% as buyback reduces float and earnings growth accelerates.
The combination of record inflows, higher EPS, and a sizable buyback program is likely to attract demand and support the stock price.
Market effects
Highlights strength of asset‑management sector and may lift peer valuations.
Positive for US listed asset managers and related ETFs.
Reinforces demand for alternative‑focused investment platforms worldwide.
Counterpoint
Buyback may be masking underlying growth challenges; investors should watch cash flow sustainability.
Key entities
- ExecutiveJay Horgen
President and CEO of AMG, provided guidance and commentary.
