Affiliated Managers Group, Inc. 4.750% Junior Subordinated Notes due 2060 research snapshot
MGRB AI stock analysis as of the August 3, 2026 data cutoff treats MGRB as Affiliated Managers Group junior subordinated debt, not AMG common stock. MGRB is the company's 4.750% Junior Subordinated Notes due September 30, 2060, issued in $25 denominations. The last reported close available by the cutoff was $16.76 on July 31, 2026, re-verified across the StockAnalysis.com quote page and Barchart price performance data, implying a 7.09% annual coupon yield and a 32.96% discount to the $25 principal amount. The notes can be redeemed at 100% of principal plus accrued interest, and the issuer may defer interest under the note terms. The refresh captured AMG's Q2 2026 report released July 30, 2026, which showed record AUM of $942.4 billion, net income attributable to AMG of $185.9 million, diluted EPS of $6.95, adjusted EBITDA of $316.0 million up 44% year over year, and economic EPS of $8.29 up 54%, with alternatives now more than 60% of earnings. These results support the issuer's cash generation but do not remove the 2060 maturity, junior unsecured ranking, call risk, interest-deferral rights, or thin trading. This MGRB AI stock forecast uses rate, credit, and liquidity scenarios rather than a guaranteed price target. This page is informational research only and is not investment advice.
Current price
$16.76 last reported close on July 31, 2026
Market cap
$184.36 million implied market value for the 11 million-note issue
AI score
55 / 100
Rating
Long-dated junior subordinated debt with improving issuer credit, still trading at a deep discount to par
Trend status
Held above the 52-week low after the strong Q2 2026 report, with thin-trading confirmation still required
Data cutoff (updated monthly)
August 4, 2026
Informational use only. This page is not investment advice.
| Dimension | Conclusion | Confidence |
|---|---|---|
| Business quality | MGRB holders lend to AMG, whose affiliates earn management and performance fees across private markets, liquid alternatives, and differentiated long-only strategies. Q2 2026 delivered record AUM of $942.4 billion and adjusted EBITDA growth of 44% year over year. | High |
| Moat | AMG benefits from a partnership model, affiliate relationships, distribution capabilities, investment brands, and scale, with alternatives now more than 60% of earnings. These support issuer credit but are not an equity upside claim for MGRB holders. | Medium-high |
| Management | Management quality matters through affiliate selection, capital allocation, liquidity, refinancing, leverage, and the choice to pay or defer junior-note interest. In H1 2026 AMG repurchased about $375 million of stock and extended its $1.25 billion revolver to June 2031. The note contract, not management ownership, defines the holder claim. | Medium-high |
| Financial trend | Q2 2026 results were record-setting: AUM of $942.4 billion, net income attributable to AMG of $185.9 million, diluted EPS of $6.95, adjusted EBITDA of $316.0 million up 44%, and economic EPS of $8.29 up 54%. H1 diluted EPS was $10.76 and H1 economic EPS was $16.52. | High |
| Valuation | The relevant MGRB valuation is coupon yield, yield to call, duration, principal recovery, liquidity, and issuer credit. At $16.76, the $1.1875 annual coupon equals a 7.09% current yield, before tax and without assuming a call. | High |
| Technical trend | The $16.76 close on July 31, 2026 was above the $15.81 52-week low and below the $19.10 52-week high, with a one-month gain of 3.65% and Barchart technical opinion of 8% buy. Current MGRB-specific moving averages and RSI were not source-verified at the cutoff. | Low-medium |
| Risk level | Risk is elevated because MGRB is unsecured and junior to senior debt, matures in 2060, can be called at par, permits interest deferral, and trades with limited security-level liquidity. Issuer risk is mitigated by record AUM, strong cash flow, and low leverage. | High |
| AI confidence | Security terms and issuer financial facts are well documented and the fresh Q2 2026 figures match across the earnings release and call transcript. Price-direction confidence is lower because rates, credit spreads, call decisions, and thin trading can dominate a static snapshot. | Medium-high |
| Investment certainty | MGRB is a specialized income-security research case, not a conventional stock selection. Certainty requires a current quote, yield-to-call calculation, credit review, liquidity check, and personal risk assessment. | Low-medium |
MGRB AI stock forecast
The MGRB AI stock forecast is a rate-and-credit scenario range, not an equity earnings target. At a $16.76 reference price, the fixed $1.1875 annual coupon produces a 7.09% current yield. A call at 100% of principal would cap price upside near $25 plus accrued interest, while a higher required yield or weaker issuer credit could keep the note below par for years. The refresh incorporated the July 30, 2026 Q2 report, which strengthened the issuer credit picture, but the note still has 34 years of duration, junior ranking, and interest-deferral rights. Equity-style PE scenarios were run as a required arithmetic audit, but they are not economically valid for a fixed-coupon junior note and are not used as the forecast.
$20 to $25 plus accrued interest
More likely if long-term rates or AMG credit spreads fall, alternative inflows and AUM remain strong, issuer liquidity improves, and investors price the note closer to par. A call at $25 would limit further price upside.
$16.00 to $19.50 plus coupon income
More likely if AMG remains profitable with record AUM, the 4.750% coupon is paid, rates and credit spreads remain broadly stable, and investors require roughly a 6.1% to 7.4% yield for long duration and junior ranking.
$12.00 to $16.00 plus or excluding future coupon income
More likely if rates or credit spreads rise, asset-management outflows reduce cash generation, leverage increases, MGRB liquidity deteriorates, or investors assign more weight to the issuer's contractual ability to defer interest.
MGRB AI technical analysis
MGRB AI technical analysis is deliberately conservative as of the August 3, 2026 data cutoff. The last reported close was $16.76 on July 31, 2026, with a reported 52-week range of $15.81 to $19.10 and volume of 59,163 notes on that date. Barchart reported a one-month gain of 3.65%, a three-month gain of 1.39%, and a technical opinion of 8% buy. Current MGRB-specific 50-day and 200-day moving averages and RSI were not available from the reviewed sources, so the page does not infer them from AMG common stock or from an old technical snapshot.
| Level | Value | Why it matters |
|---|---|---|
| Last reported price | $16.76 | Close on July 31, 2026, cross-validated across StockAnalysis.com and Barchart price performance data. |
| Near support | $16.08 to $16.35 | A watch zone that includes the one-month low of $16.08 reported on July 1, 2026. Thin volume can make a single close less reliable as support. |
| 52-week low | $15.81 | Reported as the lower end of the 52-week range, set on April 1, 2026. A break would require a fresh credit and liquidity review. |
| Near resistance | $17.00 to $17.16 | An observation zone below the one-month high of $17.16 reported on July 15, 2026, not a source-verified moving-average level. |
| Upper resistance | $19.10 | Reported 52-week high, set on September 17, 2025. It is a historical reference and not a forecast target. |
| Principal and call reference | $25.00 | The 2060 notes may be redeemed at 100% of principal plus accrued and unpaid interest. Par is an issuer call or maturity reference, not a guaranteed near-term price. |
| Moving averages | Unavailable from current reviewed MGRB sources | Do not substitute AMG common-stock moving averages for this note. |
| Momentum | RSI unavailable; Barchart technical opinion of 8% buy | Use current price, spread, rate, and credit information together rather than relying on an unverified oscillator. |
| Volume | 59,163 notes on the July 31, 2026 close | StockAnalysis reported this volume for the last close. Trading activity may be too thin for tight technical stops. |
| Volatility | Rate, credit-spread, call, and liquidity sensitive | The fixed coupon does not make market value stable because the note has duration and junior issuer exposure. |
| Invalidation | Sustained break below $15.81 or a material credit event | A chart break, interest deferral, weaker liquidity, or adverse AMG financing development should trigger a full reassessment. |
MGRB AI trading strategy
The MGRB AI trading strategy is a rules-based research framework for a long-dated exchange-traded note, not personalized advice. It combines price and yield checks with AMG cash generation, leverage, affiliate flows, rates, credit spreads, call status, and liquidity.
Wait for MGRB to hold above the $16.76 area and move through an observable $17.00 to $17.16 zone with acceptable bid-ask spreads. Confirm that AMG remains profitable, AUM and alternative inflows stay strong, and no interest-deferral or refinancing concern has emerged.
Treat a sustained close below $15.81, a widening spread, or a material issuer-credit change as a reason to reassess rather than average down automatically.
If MGRB trades near the lower end of its range, compare the live price with the $25 principal amount, current coupon yield, yield-to-call, duration, accrued-interest convention, and the latest AMG debt and liquidity disclosures.
Do not assume a discount to $25 must close. A callable junior note can remain below par for an extended period, and an issuer call may cap upside before maturity.
Track AMG AUM, net client flows by strategy, asset-based and performance fees, adjusted EBITDA, economic net income, operating cash flow, total debt, senior debt, junior-note interest, affiliate investments, call notices, and interest-payment disclosures. The Q2 2026 report showed record AUM and strong alternative flows, which supports issuer cash generation but is not a fixed-income guarantee.
Size any research position for delayed interest, price loss before maturity, junior recovery risk, thin liquidity, and tax treatment of interest income.
Investment research summary
MGRB holders lend to Affiliated Managers Group. AMG partners with independent investment firms and shares in their fee economics while providing capital, distribution, strategic support, and succession solutions. As of June 30, 2026, AMG managed a record $942.4 billion across about 40 affiliates. MGRB does not represent ownership of the affiliate businesses or AMG common-stock upside.
AMG's advantage comes from its partnership network, long-term affiliate relationships, investment-management brands, distribution capabilities, transaction experience, and scale, with alternatives now more than 60% of earnings. These strengths support cash generation but do not remove debt subordination or duration risk.
The MGRB thesis can fail if AMG loses clients, alternative-strategy demand reverses, performance fees fall, affiliate investments consume liquidity, leverage rises, refinancing costs increase, the issuer defers interest, or the note trades with a wider discount. The key question is whether a 7.09% current yield compensates for junior ranking and a 2060 maturity.
CEO Jay Horgen and AMG management emphasize affiliate partnerships, growth in alternatives, capital allocation, and shareholder returns, and the Q2 2026 report showed execution on those priorities with record AUM and about $375 million in first-half buybacks. For MGRB holders, the management test is narrower: preserve liquidity, maintain access to capital, control leverage, invest in affiliates sensibly, and keep junior-note obligations manageable. Common-share repurchases do not automatically improve the noteholder claim.
Asset management is shaped by long-term demand for private markets, liquid alternatives, absolute return, retirement solutions, and tax-aware investing, but fees, flows, market levels, regulation, and distribution costs remain cyclical. Q2 2026 AMG data showed record alternative net inflows of $29 billion and $14 billion of equity outflows, illustrating both the opportunity and the mix risk.
At $16.76, MGRB traded at 67.04% of its $25 principal amount, a 32.96% discount. The $1.1875 annual coupon equals a 7.09% current yield. The discount is not a complete margin of safety because AMG can defer interest under the terms, the notes are junior and unsecured, the issuer can call at par, and rates can move the market value before 2060.
Source-backed data
Every metric below includes a source and last verification date.
| Metric | Value | Source | Last verified |
|---|---|---|---|
| Security identity and terms | 4.750% Junior Subordinated Notes due September 30, 2060; NYSE symbol MGRB; $25 denomination; $275 million principal issue | AMG Q1 2026 Form 10-Q | August 3, 2026 |
| Coupon and payment structure | 4.750% fixed annual coupon, or $1.1875 per $25 note, payable quarterly; the issuer may defer interest subject to the note terms | AMG security description and Q1 2026 Form 10-Q | August 3, 2026 |
| Call and ranking | The 2060 notes may be redeemed at 100% of principal plus accrued and unpaid interest; the notes are junior subordinated to senior indebtedness | AMG Q1 2026 Form 10-Q | August 3, 2026 |
| Price and issue-value calculation | $16.76 last reported close on July 31, 2026; Pineify financial_rigor.py verified $16.76 x 11.00 million notes = $184.36 million with 0.00% variance | StockAnalysis MGRB overview, Barchart MGRB performance, and Pineify financial_rigor.py | August 3, 2026 |
| Coupon yield and discount to principal | Pineify financial_rigor.py calculated $1.1875 / $16.76 = 7.09% current coupon yield and a 32.96% discount to $25 principal. These are not yield-to-call or total-return estimates. | AMG note terms and Pineify financial_rigor.py | August 3, 2026 |
| AMG FY2025 financials | $2.0744 billion consolidated revenue, $904.0 million net income, $716.6 million controlling-interest net income, and $586.0 million cash and cash equivalents | AMG FY2025 Form 10-K and StockAnalysis financial statements | August 3, 2026 |
| AMG Q2 2026 results | Record AUM of $942.4 billion, $640.7 million revenue, $185.9 million net income attributable to AMG, $6.95 diluted EPS, $316.0 million adjusted EBITDA, and $8.29 economic EPS, with $12.9 billion of net client cash flows and $29 billion of alternative net inflows | AMG Q2 2026 earnings release (July 30, 2026) and earnings call transcript | August 3, 2026 |
| AMG debt context | $2.9186 billion total debt at March 31, 2026, including $1.2161 billion carrying value of junior subordinated notes; management extended the $1.25 billion revolver to June 2031 and described leverage as low | AMG Q1 2026 Form 10-Q and Q2 2026 earnings call | August 3, 2026 |
This MGRB page is an informational research tool, not investment, legal, accounting, or tax advice. Forecast ranges are scenarios based on available security terms, issuer data, and market context and can be wrong. MGRB is long-dated junior subordinated debt, not AMG common stock; prices, interest treatment, call outcomes, recovery, and liquidity can change materially. The Q2 2026 report improved the issuer credit picture, but the note still carries duration, junior ranking, deferral, and liquidity risk. Verify the live quote, yield-to-call, tax treatment, and latest AMG filings before acting.
Design trading strategies visually with 10+ indicators. Set entry/exit conditions and risk management, then generate Pine Script code with no coding required.
Filter and discover stocks based on market cap, dividend yield, P/E ratio, sector, and more. Screen thousands of stocks with real-time data.
Smart AI-driven stock selection with fundamental screening, analyst estimates, and key metrics. Filter by P/E, market cap, dividends, and more.
