Acadian Asset Management (NYSE:AAMI) Releases Quarterly Earnings Results

Key Points

• Acadian Asset Management reported a quarterly earnings per share (EPS) of $0.64, exceeding estimates by $0.12, with revenue of $124.90 million for the quarter.
• The company's stock fell 4.9% after the earnings announcement, trading at $39.74 amid a market cap of $1.42 billion.
• Acadian Asset Management declared a quarterly dividend of $0.01 per share, with an annualized yield of 0.1%.

Acadian Asset Management (NYSE:AAMI - Get Free Report) released its earnings results on Thursday. The company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.12, Zacks reports. The firm had revenue of $124.90 million for the quarter, compared to analysts' expectations of $118.07 million. Acadian Asset Management had a return on equity of 174.31% and a net margin of 16.65%.

Acadian Asset Management Trading Up 2.6%

Shares of NYSE:AAMI traded up $1.16 during trading on Wednesday, reaching $45.70. 318,620 shares of the company's stock traded hands, compared to its average volume of 243,783. Acadian Asset Management has a fifty-two week low of $21.49 and a fifty-two week high of $45.81. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 19.04 and a beta of 1.38. The stock has a 50-day simple moving average of $35.60.

Acadian Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given a dividend of $0.01 per share. The ex-dividend date is Friday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.1%. Acadian Asset Management's dividend payout ratio (DPR) is 1.67%.

Analyst Upgrades and Downgrades

AAMI has been the subject of a number of analyst reports. Royal Bank Of Canada upped their target price on Acadian Asset Management from $34.00 to $42.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. Evercore ISI lowered their target price on Acadian Asset Management from $25.00 to $23.00 and set an "in-line" rating for the company in a report on Friday, April 11th. Morgan Stanley upped their target price on Acadian Asset Management from $27.00 to $30.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 2nd. Finally, Wall Street Zen upgraded Acadian Asset Management from a "buy" rating to a "strong-buy" rating in a report on Saturday.

Acadian Asset Management Company Profile

Acadian Asset Management Inc is a publically owned asset management holding company. The firm provides its services to individuals and institutions. It manages separate client focused portfolios through its subsidiaries. The firm also launches equity mutual funds for its clients. It invests in public equity, fixed income, and alternative investment markets through its subsidiaries.