Acadian Asset Management (NYSE:AAMI) Upgraded to "Strong-Buy" at Wall Street Zen

Key Points

• Acadian Asset Management has been upgraded from a "buy" to a "strong-buy" rating by Wall Street Zen, indicating increased confidence among analysts.
• Recent price target adjustments for the stock include an increase by Royal Bank of Canada from $34.00 to $42.00, while Evercore ISI has lowered their target from $25.00 to $23.00.
• The company reported earnings per share of $0.64 for the last quarter, surpassing expectations, along with a significant market capitalization of $1.42 billion.

Acadian Asset Management (NYSE:AAMI - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Saturday.

Other equities analysts also recently issued research reports about the company. Royal Bank Of Canada increased their price target on Acadian Asset Management from $34.00 to $42.00 and gave the stock a "sector perform" rating in a research report on Friday. Evercore ISI dropped their price target on Acadian Asset Management from $25.00 to $23.00 and set an "in-line" rating on the stock in a research report on Friday, April 11th. Finally, Morgan Stanley increased their price target on Acadian Asset Management from $27.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 2nd.

Acadian Asset Management Price Performance

Shares of AAMI traded up $2.39 during midday trading on Friday, reaching $43.01. 181,732 shares of the stock were exchanged, compared to its average volume of 241,501. Acadian Asset Management has a 52 week low of $21.49 and a 52 week high of $43.17. The firm has a 50 day moving average price of $35.32. The company has a market capitalization of $1.54 billion, a P/E ratio of 17.92 and a beta of 1.38.

Acadian Asset Management (NYSE:AAMI - Get Free Report) last posted its quarterly earnings results 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. Acadian Asset Management had a return on equity of 174.31% and a net margin of 16.65%. The business had revenue of $124.90 million for the quarter, compared to the consensus estimate of $118.07 million. Analysts forecast that Acadian Asset Management will post 2.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Acadian Asset Management

Institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC purchased a new position in shares of Acadian Asset Management in the second quarter worth about $25,000. GAMMA Investing LLC acquired a new stake in Acadian Asset Management in the second quarter valued at approximately $37,000. Public Employees Retirement System of Ohio acquired a new stake in Acadian Asset Management in the second quarter valued at approximately $44,000. CWM LLC acquired a new stake in Acadian Asset Management in the second quarter valued at approximately $55,000. Finally, Blue Trust Inc. acquired a new stake in shares of Acadian Asset Management in the second quarter worth approximately $57,000. Institutional investors and hedge funds 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.