Affiliated Managers: Q4 Earnings Snapshot

WEST PALM BEACH, Fla. (AP) _ Affiliated Managers Group Inc. (AMG) on Monday reported fourth-quarter earnings of $777.8 million.

The West Palm Beach, Florida-based company said it had profit of $17.40 per share. Earnings, adjusted for non-recurring gains, were $7.28 per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $7.03 per share.

The asset manager posted revenue of $539.6 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $599.4 million.

For the year, the company reported profit of $1.15 billion, or $25.35 per share. Revenue was reported as $2.33 billion.

Affiliated Managers shares have increased 12% since the beginning of the year. The stock has risen 21% in the last 12 months.

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