Royal Bank Of Canada Forecasts Strong Price Appreciation for Acadian Asset Management (NYSE:AAMI) Stock

Key Points

• The price target for Acadian Asset Management (NYSE:AAMI) has been raised by the Royal Bank Of Canada from $34.00 to $42.00, indicating a potential upside of 6.46% based on the company's previous close.
• Acadian Asset Management's stock experienced a 5.6% decline, trading down to $39.45, with a trading volume of 66,569 shares versus an average of 239,473.
• The company reported an EPS of $0.64 for the last quarter, surpassing analysts' expectations of $0.52, alongside revenue of $124.90 million, higher than the forecasted $118.07 million.

Acadian Asset Management (NYSE:AAMI - Get Free Report) had its target price boosted by Royal Bank Of Canada from $34.00 to $42.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price would indicate a potential downside of 5.81% from the stock's previous close.

A number of other equities research analysts also recently weighed in on AAMI. Evercore ISI cut their price target on Acadian Asset Management from $25.00 to $23.00 and set an "in-line" rating for the company in a research note on Friday, April 11th. Morgan Stanley lifted 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.

Acadian Asset Management Price Performance

Shares of Acadian Asset Management stock traded up $3.97 during midday trading on Friday, hitting $44.59. The company's stock had a trading volume of 437,145 shares, compared to its average volume of 243,273. The company's 50-day simple moving average is $35.32. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 18.58 and a beta of 1.38. Acadian Asset Management has a 1-year low of $21.49 and a 1-year high of $44.61.

Acadian Asset Management (NYSE:AAMI - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.64 earnings per share 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 for the quarter, compared to analyst estimates of $118.07 million. On average, analysts forecast that Acadian Asset Management will post 2.78 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Signaturefd LLC acquired a new stake in shares of Acadian Asset Management during the second quarter worth $25,000. GAMMA Investing LLC bought a new position in shares of Acadian Asset Management in the second quarter valued at $37,000. Public Employees Retirement System of Ohio bought a new stake in shares of Acadian Asset Management in the 2nd quarter valued at about $44,000. CWM LLC bought a new position in shares of Acadian Asset Management during the 2nd quarter worth approximately $55,000. Finally, Blue Trust Inc. acquired a new position in shares of Acadian Asset Management during the 2nd quarter worth approximately $57,000. Institutional investors and hedge funds 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.