Acadian Asset Management (NYSE:AAMI) Announces 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) issued its earnings results on Thursday. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.12, Zacks reports. Acadian Asset Management had a return on equity of 174.31% and a net margin of 16.65%. The firm had revenue of $124.90 million for the quarter, compared to analyst estimates of $118.07 million.

Acadian Asset Management Stock Down 4.9%

Shares of AAMI stock traded down $2.05 during mid-day trading on Friday, reaching $39.74. 375,126 shares of the company's stock traded hands, compared to its average volume of 257,888. Acadian Asset Management has a 12 month low of $21.49 and a 12 month high of $42.63. The firm's 50 day moving average price is $35.09. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 16.56 and a beta of 1.37.

Acadian Asset Management Dividend Announcement

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

Analysts Set New Price Targets

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

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.

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