Acadian Asset Management (NYSE:AAMI) Sets New 1-Year High After Earnings Beat

Key Points

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Acadian Asset Management Inc. (NYSE:AAMI - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $42.41 and last traded at $41.89, with a volume of 47488 shares trading hands. The stock had previously closed at $39.64.

The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.12. Acadian Asset Management had a net margin of 16.65% and a return on equity of 174.31%. The business had revenue of $124.90 million during the quarter, compared to analysts' expectations of $118.07 million.

Acadian Asset Management Dividend Announcement

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

Analyst Upgrades and Downgrades

AAMI has been the topic of a number of research analyst reports. Wall Street Zen raised Acadian Asset Management from a "buy" rating to a "strong-buy" rating in a report on Saturday. 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. Evercore ISI decreased their price objective on shares of 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. Finally, Morgan Stanley increased their price objective on shares of Acadian Asset Management from $27.00 to $30.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 2nd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AAMI. Exchange Traded Concepts LLC purchased a new stake in Acadian Asset Management in the 2nd quarter worth $1,882,000. GAMMA Investing LLC bought a new stake in Acadian Asset Management during the second quarter worth approximately $37,000. Public Employees Retirement System of Ohio purchased a new stake in Acadian Asset Management during the 2nd quarter valued at $44,000. State of Alaska Department of Revenue purchased a new position in Acadian Asset Management during the second quarter worth $562,000. Finally, Kendall Capital Management bought a new position in Acadian Asset Management during the second quarter valued at $357,000. 98.69% of the stock is owned by hedge funds and other institutional investors.

Acadian Asset Management Trading Up 2.5%

The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 16.90 and a beta of 1.38. The stock's 50-day simple moving average is $35.09.

About Acadian Asset Management

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.