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 12, 2025 , there were 27
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, 2024 . . . . . . . . . . .
—
$ —
—
$ —
5,937,859
November 1-30, 2024 . . . . . . . . .
121,762
183.46
121,762
183.46
5,816,097
December 1-31, 2024 . . . . . . . . .
525,507
185.84
525,507
185.84
5,290,590
Total . . . . . . . . . . . . . . . . . . . . .
647,269
185.39
647,269
185.39
___________________________
(1) Includes shares surrendered to the Company to satisfy tax withholding and/or option exercise price obligations in
connection with stock swap and option exercise transaction s, if any.
(2) Our Board of Directors authorized share repurchase programs in October 2022 , October 2023 , and July 2024 to repurchase
up to 3.0 million , 3.3 million , and 5.4 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 March 31, 2024 and
December 31, 2024, we had repurchased all of the shares in the repurchase programs authorized in October 2022 and
October 2023, respectively .
For the years ended December 31, 2022 , 2023 , and 2024 , we repurchased 4.5 million , 3.0 million , and 4.3 million shares of
our common stock at an average price per share of $144.45 , $132.99 , and $162.65 , respectively.
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Performance Graph
Our peer group comprises AllianceBernstein Holding L.P., Artisan Partners Asset Management Inc., Blue Owl Capital
Inc., The Carlyle Group Inc., Federated Hermes, Inc., Franklin Resources, Inc., Invesco Ltd., Janus Henderson Group plc,
Lazard Ltd., TPG Inc., Victory Capital Holdings, Inc., and Virtus Investment Partners, Inc. Prior to 2024, our peer group also
included Ares Management Corporation. In keeping with i ts regular review and evaluation of the peer group, the
Compensation Committee of our Board of Directors further refined our peer group in 2024 to reflect our Company’s growth,
overall changes in the asset management industry, and the business models, size, and scope of our competitors. The following
graph compares the cumulative stockholder return on our common stock from December 31, 2019 through December 31, 2024 ,
with the cumulative total return, during the same period, on the Standard & Poor’s MidCap 400 Index, our prior peer group, and
our current peer group. The comparison below assumes the investment of $100 on December 31, 2019 in our common stock
and each of the comparison indices and, in each case, assumes reinvestment of all dividends.
Item 6. [Reserved]
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