01:35 PM EST, 11/04/2024 (MT Newswires) -- (Updates with stock price movement in the headline and first paragraph)

Affiliated Managers Group ( AMG ) shares fell 9% after the firm's Q3 earnings failed to meet estimates.

The company reported Q3 economic earnings of $4.82 per share, up from $4.08 a year earlier.

Analysts polled by Capital IQ expected $4.84.

Total revenue for the quarter ended Sept. 30 was $516.4 million, down from $525.2 million a year earlier.

Four analysts surveyed by Capital IQ expected $521.9 million.

Additionally, the company said its board maintained the quarterly dividend at $0.01 per share, payable Nov. 29 to shareholders of record as of Nov. 14.

Price: 176.07, Change: -17.74, Percent Change: -9.15