Acadian Asset Management (NYSE:AAMI) Hits New 52-Week High - Here's What Happened

Key Points

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Shares of Acadian Asset Management Inc. (NYSE:AAMI - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $48.64 and last traded at $47.98, with a volume of 3780 shares. The stock had previously closed at $47.81.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wall Street Zen raised Acadian Asset Management from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Morgan Stanley increased their price objective on 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. Finally, Royal Bank Of Canada increased their target price on Acadian Asset Management from $34.00 to $42.00 and gave the company a "sector perform" rating in a report on Friday, August 1st. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Acadian Asset Management currently has a consensus rating of "Hold" and an average target price of $31.67.

Acadian Asset Management Stock Performance

The stock has a market cap of $1.70 billion, a PE ratio of 19.78 and a beta of 1.38. The stock has a fifty day moving average price of $38.53 and a 200 day moving average price of $30.83.

Acadian Asset Management (NYSE:AAMI - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.12. The firm had revenue of $124.90 million during 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%. As a group, equities analysts anticipate that Acadian Asset Management Inc. will post 2.78 earnings per share for the current fiscal year.

Acadian Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued 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 yield of 0.1%. Acadian Asset Management's payout ratio is presently 1.67%.

Hedge Funds Weigh In On Acadian Asset Management

A number of large investors have recently bought and sold shares of the business. Paulson & CO. Inc. purchased a new position in Acadian Asset Management during the 2nd quarter valued at $315,402,000. Jennison Associates LLC purchased a new stake in shares of Acadian Asset Management in the 2nd quarter worth $73,690,000. Impax Asset Management Group plc bought a new position in shares of Acadian Asset Management in the 2nd quarter worth $35,240,000. William Blair Investment Management LLC bought a new position in shares of Acadian Asset Management in the 2nd quarter worth $25,094,000. Finally, Geode Capital Management LLC bought a new position in shares of Acadian Asset Management in the 2nd quarter worth $22,116,000. Hedge funds and other institutional investors own 98.69% of the company's stock.

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.

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