WEST PALM BEACH, Fla. (AP) _ Affiliated Managers Group Inc. (AMG) on Monday reported first-quarter net income of $149.9 million, after reporting a loss in the same period a year earlier.

The West Palm Beach, Florida-based company said it had net income of $3.41 per share. Earnings, adjusted for non-recurring costs, were $4.28 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $4.26 per share.

The asset manager posted revenue of $559.1 million in the period.

Affiliated Managers shares have climbed 58% since the beginning of the year. The stock has more than doubled in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMG at https://www.zacks.com/ap/AMG