Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Our common stock is traded on the New York Stock Exchange (symbol: AMG). As of February 18, 2021, there were 101 stockholders of record , including banks, brokers, and other financial institutions holding shares in omnibus accounts for their customers (in total representing substantially all of the beneficial holders of our common stock).
Issuer Purchases of Equity Securities
Period Total Number of Shares Purchased (1)
Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Average Price Paid Per Share Maximum Number of Shares that May Yet Be Purchased Under Outstanding Plans or Programs (2)
October 1-31, 2020 113,256 $ 74.76 113,256 $ 74.76 3,960,298
November 1-30, 2020 483,400 87.44 483,400 87.44 3,476,898
December 1-31, 2020 (3)
1,558,813 112.47 1,558,226 112.48 1,918,672
Total 2,155,469 104.88 2,154,882 104.88
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(1) Includes shares surrendered to the Company to satisfy tax withholding and/or option exercise price obligations in connection with stock swap option exercise transactions, if any.
(2) Our Board of Directors authorized share repurchase programs in January 2021, October 2019, and January 2019 to repurchase up to 5.0 million, 6.0 million, and 3.3 million shares of our common stock, respectively, and these authorizations have no expiry. Purchases may be made from time to time, at management’s discretion, in the open market or in privately negotiated transactions, including through the use of trading plans as well as pursuant to accelerated share repurchase programs or other share repurchase strategies that may include derivative financial instruments. As of December 31, 2020, we had repurchased all of the shares of the January 2019 program. As of the January 2021 authorization, there were a total of 6.9 million shares available for repurchase under our January 2021 and October 2019 share repurchase programs.
(3) As of December 31, 2020, we had unsettled market share repurchases under a $100.0 million accelerated share repurchase program, of which 0.8 million shares are included in our total number of shares purchased during December 2020 in accordance with the upfront delivery of shares in the agreement. Under the program, which was completed on February 5, 2021, we repurchased a total of 0.9 million shares of our common stock at an average price of $110.10 per share.
Between January 1 and February 18, 2021, we repurchased 1.2 million shares of our common stock for $151.9 million, including shares repurchased in the open market, through a 10b5-1 trading plan, and pursuant to an accelerated share repurchase program.
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Performance Graph
Our peer group comprises AllianceBernstein Holding L.P., Ameriprise Financial, Inc., Ares Management Corporation, Franklin Resources, Inc., Invesco Ltd., Janus Henderson Group plc, Lazard Ltd. and T. Rowe Price Group, Inc. Prior to this year, our peer group also included Eaton Vance Corp. and Legg Mason, Inc., both of which have been, or are in the process of being, acquired. The following graph compares the cumulative stockholder return on our common stock from December 31, 2015 through December 31, 2020, with the cumulative total return, during the same period, on the Standard & Poor’s MidCap 400 Index, and our current peer group. The comparison below assumes the investment of $100 on December 31, 2015 in our common stock and each of the comparison indices and, in each case, assumes reinvestment of all dividends.
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