Acadian Asset Management (NYSE:AAMI) Sets New 1-Year High Following Strong Earnings

Key Points

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Shares of Acadian Asset Management Inc. (NYSE:AAMI - Get Free Report) hit a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $42.41 and last traded at $41.89, with a volume of 47488 shares. The stock had previously closed at $39.64.

The company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.12. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, September 12th. Acadian Asset Management's payout ratio is currently 1.67%.

Analysts Set New Price Targets

A number of equities analysts recently commented on AAMI shares. Wall Street Zen raised Acadian Asset Management from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Evercore ISI cut their price objective on 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. Royal Bank Of Canada lifted their price objective on Acadian Asset Management from $34.00 to $42.00 and gave the stock a "sector perform" rating in a research note on Friday. Finally, Morgan Stanley lifted their price objective on 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.

Institutional Investors Weigh In On Acadian Asset Management

Hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC bought a new stake in Acadian Asset Management in the second quarter worth approximately $25,000. GAMMA Investing LLC bought a new stake in Acadian Asset Management in the second quarter worth approximately $37,000. Public Employees Retirement System of Ohio bought a new stake in Acadian Asset Management in the second quarter worth approximately $44,000. CWM LLC bought a new stake in Acadian Asset Management in the second quarter worth approximately $55,000. Finally, Blue Trust Inc. bought a new stake in Acadian Asset Management in the second quarter worth approximately $57,000. 98.69% of the stock is currently owned by institutional investors.

Acadian Asset Management Price Performance

The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 16.56 and a beta of 1.37. The business has a fifty day moving average of $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.