10-QPeriod: Q3 FY2013

AFFILIATED MANAGERS GROUP, INC. Quarterly Report for Q3 Ended Sep 30, 2013

Filed November 12, 2013For Securities:AMGMGRBMGRMGRDMGRE

Summary

Affiliated Managers Group, Inc. (AMG) filed its quarterly report on Form 10-Q for the period ending September 30, 2013. This report indicates no significant changes in market risk disclosures compared to the 2012 annual report. Importantly, management, including the CEO and CFO, has concluded that the company's disclosure controls and procedures are effective, providing reasonable assurance regarding the timely and accurate reporting of financial information. This assessment suggests a stable internal control environment for financial reporting. Furthermore, the filing details the company's share repurchase activities. During August 2013, AMG repurchased 85,000 shares of its common stock at an average price of $184.89 per share. As of September 30, 2013, approximately 2.2 million shares remained available for repurchase under previously approved programs, demonstrating ongoing capital allocation strategies focused on returning value to shareholders. No unregistered sales of equity securities occurred during the quarter.

Financial Highlights

44 data points
Beta

Net Income

$75.20M

EPS (Diluted)

$1.37

Total Assets

$6.26B

Cash & Equivalents

$522.40M

Free Cash Flow

$275.70M

Financial Statements
Beta
SG&A Expenses$106.40M
Operating Expenses$382.50M
Operating Income$169.10M
Interest Expense$19.90M
Net Income$75.20M
EPS (Basic)$1.41
EPS (Diluted)$1.37
Shares Outstanding (Basic)53.20M
Shares Outstanding (Diluted)56.90M

Key Highlights

  • 1Disclosure controls and procedures are deemed effective by management, including CEO and CFO, ensuring timely and accurate financial reporting.
  • 2No material changes occurred in internal control over financial reporting during the quarter.
  • 3Market risk disclosures remain consistent with the company's 2012 Annual Report on Form 10-K.
  • 4AMG repurchased 85,000 shares of its common stock in August 2013 at an average price of $184.89 per share.
  • 5Approximately 2.2 million shares remain available for repurchase under existing board-approved programs.
  • 6No unregistered sales of equity securities were made during the reported quarter.

Frequently Asked Questions

No, the filing states there have been no significant changes to AMG's Quantitative and Qualitative Disclosures About Market Risk for the three months ended September 30, 2013. Investors should refer to the 2012 Annual Report on Form 10-K for detailed information on market risk.

Management, including the CEO and CFO, has evaluated the company's disclosure controls and procedures and concluded they are effective at a reasonable assurance level. No changes during the quarter materially affected AMG's internal control over financial reporting.

Yes, during August 2013, AMG purchased 85,000 shares of its common stock at an average price of $184.89 per share. No shares were repurchased in July or September 2013.

As of September 30, 2013, approximately 2.2 million shares remain available for repurchase under the company's existing share repurchase programs, which do not expire. These repurchases are at the discretion of management.