Affiliated Managers Group (NYSE:AMG) unveiled its first-quarter financial performance for 2024, demonstrating notable achievements across both operating and financial fronts.

In a press release dated May 6, 2024, AMG showcased significant growth, with Economic Earnings per share soaring by 28% year-over-year to $5.37.

This surge was credited to the exceptional performance of its Affiliates in both business and investment realms, bolstered further by the positive outcomes of its capital allocation strategy.

The company's strategic initiatives included investments in new and existing Affiliates, alongside a robust share buyback program totalling approximately $150 million in common stock, and the issuance of $450 million of 40-year junior hybrid debt.

Meanwhile, the company's board of directors declared a quarterly dividend of $0.01 per common stock, payable on May 30, 2024, to stockholders of record as of May 16, 2024.

As of the first quarter's conclusion, AMG boasted aggregate assets under management of approximately $699 billion, illustrating the firm's diversified presence across a spectrum of investment strategies.