Acadian Asset Management (NYSE:AAMI) Trading 9.3% Higher - Here's Why

Key Points

• Acadian Asset Management's stock surged by 9.3% to a price of $44.38, significantly higher than its previous close of $40.62.
• Analysts have raised their price targets for Acadian, with Morgan Stanley setting it at $30.00 and Royal Bank Of Canada at $42.00, while Wall Street Zen upgraded the rating from "buy" to "strong-buy".
• The company announced a $0.01 quarterly dividend, with an annual yield of 0.1%, highlighting its commitment to returning value to shareholders.

Acadian Asset Management Inc. (NYSE:AAMI - Get Free Report)'s share price shot up 9.3% during mid-day trading on Tuesday . The company traded as high as $44.43 and last traded at $44.38. 281,646 shares changed hands during trading, an increase of 16% from the average session volume of 242,044 shares. The stock had previously closed at $40.62.

Analyst Upgrades and Downgrades

AAMI has been the subject of several analyst reports. Morgan Stanley increased 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 research note on Wednesday, July 2nd. Royal Bank Of Canada raised their price target 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. Wall Street Zen raised shares of Acadian Asset Management from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Finally, Evercore ISI lowered their price target on shares of 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.

Acadian Asset Management Stock Up 9.8%

The company's fifty day simple moving average is $35.32. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 18.58 and a beta of 1.38.

Acadian Asset Management (NYSE:AAMI - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.12. The company 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%. Equities analysts anticipate that Acadian Asset Management Inc. will post 2.78 EPS for the current year.

Acadian Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.1%. Acadian Asset Management's dividend payout ratio (DPR) is 1.67%.

Hedge Funds Weigh In On Acadian Asset Management

Hedge funds have recently modified their holdings of the business. Exchange Traded Concepts LLC acquired a new position in shares of Acadian Asset Management during the 2nd quarter worth $1,882,000. GAMMA Investing LLC acquired a new stake in Acadian Asset Management during the 2nd quarter worth approximately $37,000. Public Employees Retirement System of Ohio acquired a new stake in Acadian Asset Management during the 2nd quarter worth approximately $44,000. State of Alaska Department of Revenue purchased a new position in Acadian Asset Management in the 2nd quarter worth approximately $562,000. Finally, Kendall Capital Management purchased a new position in Acadian Asset Management in the 2nd quarter worth approximately $357,000. 98.69% of the stock is currently owned by hedge funds and other institutional investors.

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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