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

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) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $49.89 and last traded at $49.59, with a volume of 44611 shares trading hands. The stock had previously closed at $48.98.

Wall Street Analysts Forecast Growth

AAMI has been the topic of several recent research reports. Royal Bank Of Canada raised their target price on shares of Acadian Asset Management from $34.00 to $42.00 and gave the company a "sector perform" rating in a research note on Friday, August 1st. Wall Street Zen raised shares of Acadian Asset Management from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Finally, Morgan Stanley raised their target price on shares of Acadian Asset Management from $27.00 to $30.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 2nd. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, Acadian Asset Management has a consensus rating of "Hold" and a consensus target price of $31.67.

Acadian Asset Management Price Performance

The stock has a market cap of $1.79 billion, a P/E ratio of 20.88 and a beta of 1.38. The company's 50 day simple moving average is $39.81 and its 200 day simple moving average is $31.48.

Acadian Asset Management (NYSE:AAMI - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.64 EPS for the quarter, beating 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 firm had revenue of $124.90 million during the quarter, compared to the consensus estimate of $118.07 million. On average, equities research analysts predict that Acadian Asset Management Inc. will post 2.78 earnings per share for the current year.

Acadian Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued 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 1.67%.

Institutional Trading of Acadian Asset Management

Several hedge funds have recently bought and sold shares of AAMI. Paulson & CO. Inc. acquired a new stake in Acadian Asset Management during the 2nd quarter worth approximately $315,402,000. Jennison Associates LLC acquired a new stake in Acadian Asset Management during the 2nd quarter worth approximately $73,690,000. Impax Asset Management Group plc acquired a new stake in Acadian Asset Management during the 2nd quarter worth approximately $35,240,000. William Blair Investment Management LLC acquired a new stake in Acadian Asset Management during the 2nd quarter worth approximately $25,094,000. Finally, Geode Capital Management LLC acquired a new stake in Acadian Asset Management during the 2nd quarter worth approximately $22,116,000. 98.69% of the stock is currently owned by institutional investors and hedge funds.

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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