01:58 PM EDT, 07/29/2024 (MT Newswires) -- (Updates with stock price movement in the headline and first paragraph, details on dividend and share repurchase expansion.)

Affiliated Managers Group ( AMG ) shares were up 3.4% in recent trading Monday after the company reported Q2 adjusted earnings of $4.67 per diluted share, compared with $4.45 a year earlier.

Analysts surveyed by Capital IQ expected $4.60.

Revenue for the quarter ended June 30 was $500.3 million, compared with $512.5 million a year earlier.

Four analysts surveyed by Capital IQ expected $518 million.

The company kept its quarterly dividend at $0.01 per share, payable on Aug. 22 to shareholders of record on Aug. 8.

Affiliated Managers ( AMG ) said its board increased the company's share repurchase authorization to a total of 6 million shares as of July 22.

Price: 183.01, Change: +5.99, Percent Change: +3.38