Affiliated Managers Group Inc reports results for the quarter ended September 30 - Earnings Summary
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Affiliated Managers Group Inc reported adjusted earnings of $6.10 per share for the quarter ended September 30, exceeding last year's $4.82 and analysts' expectations of $5.89. Revenue increased 2.2% to $528 million, below the expected $543.39 million. The company’s net income was $212.4 million. Despite a 0.2% decline this quarter, shares have risen 28.7% this year. Analysts maintain a "strong buy" rating, with a median 12-month price target of $285.50, 16.7% above the last closing price of $237.96.
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