Acadian Asset Management (NYSE:AAMI) Sets New 12-Month High - Time to Buy?

Key Points

• Acadian Asset Management Inc. (NYSE:AAMI) reached a new 52-week high of $49.89 during trading, closing at $49.59 with a trading volume of 44,611 shares.
• Recent analyst reports show an increase in target prices for AAMI, including a raise from Royal Bank of Canada from $34.00 to $42.00 and multiple analysts giving it a consensus rating of "Hold."
• The company announced a quarterly dividend of $0.01 per share, with an annualized yield of 0.1%, to be paid on September 26th.

Acadian Asset Management Inc. (NYSE:AAMI - Get Free Report) shares reached a new 52-week high on Monday . The stock traded as high as $49.89 and last traded at $49.59, with a volume of 44611 shares changing hands. The stock had previously closed at $48.98.

Analysts Set New Price Targets

Several research firms have recently weighed in on AAMI. Royal Bank Of Canada boosted their price objective 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, August 1st. Morgan Stanley boosted 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 report on Wednesday, July 2nd. Finally, Wall Street Zen raised shares of Acadian Asset Management from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $31.67.

Acadian Asset Management Price Performance

The stock's 50-day simple moving average is $41.74 and its two-hundred day simple moving average is $32.27. The firm has a market capitalization of $1.82 billion, a P/E ratio of 21.20 and a beta of 1.38.

Acadian Asset Management (NYSE:AAMI - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.64 earnings per share (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 net margin of 16.65% and a return on equity of 174.31%. On average, analysts forecast that Acadian Asset Management Inc. will post 2.78 earnings per share for the current fiscal year.

Acadian Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be paid a $0.01 dividend. The ex-dividend date of this dividend 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 is 1.67%.

Hedge Funds Weigh In On Acadian Asset Management

Hedge funds and other institutional investors have recently modified their holdings of the stock. Signaturefd LLC bought a new position in shares of Acadian Asset Management during the second quarter worth $25,000. EverSource Wealth Advisors LLC bought a new position in Acadian Asset Management during the second quarter valued at $31,000. GAMMA Investing LLC bought a new position in Acadian Asset Management during the second quarter valued at $37,000. Public Employees Retirement System of Ohio bought a new position in Acadian Asset Management during the second quarter valued at $44,000. Finally, CWM LLC bought a new position in Acadian Asset Management during the second quarter valued at $55,000. Institutional investors own 98.69% of the company's stock.

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.