EarningsQ2 earnings above expectations: Economic EPS increased 4.9% to $4.67, above the estimate and the FactSet consensus, benefiting from the positive impact of share repurchases.
Share BuybacksThe company repurchased $327M in shares in 2Q24 and provided new guidance for at least $700M of buybacks in 2024.
Strategic GrowthAMG’s strategic pivot into secular growth segments (private markets, specialty fixed income, wealth management and ESG) should help its organic growth over time.