Acadian Asset Management (NYSE:AAMI) Stock Rating Cut to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Acadian Asset Management from “strong buy” to “buy,” while the broader analyst consensus remains “hold” with an average price target of $86.33.
• Acadian shares opened at $93.81, near their 12-month high of $98.52, with a $3.33 billion market capitalization and a price-to-earnings ratio of 33.15.
• The company exceeded quarterly earnings expectations, reporting $1.33 in EPS versus the $1.03 consensus estimate on $183.2 million in revenue; institutional investors own 98.69% of the stock.

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

Other equities research analysts have also issued reports about the stock. Royal Bank Of Canada increased their target price on shares of Acadian Asset Management from $72.00 to $80.00 and gave the stock a "sector perform" rating in a report on Friday, July 31st. Morgan Stanley upped their price target on shares of Acadian Asset Management from $81.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Friday. Evercore set a $84.00 price objective on shares of Acadian Asset Management in a research report on Friday, July 10th. Zacks Research cut shares of Acadian Asset Management from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. Finally, Weiss Ratings raised shares of Acadian Asset Management from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, August 21st. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Acadian Asset Management has an average rating of "Hold" and an average price target of $86.33.

Acadian Asset Management Trading Up 0.5%

NYSE:AAMI opened at $93.81 on Friday. The company has a market cap of $3.33 billion, a PE ratio of 33.15 and a beta of 1.30. Acadian Asset Management has a 12 month low of $41.47 and a 12 month high of $98.52. The company has a 50 day simple moving average of $90.16 and a two-hundred day simple moving average of $75.54.

Acadian Asset Management (NYSE:AAMI - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.30. Acadian Asset Management had a net margin of 15.17% and a return on equity of 189.32%. The company had revenue of $183.20 million for the quarter. Research analysts forecast that Acadian Asset Management will post 5.07 earnings per share for the current year.

Institutional Investors Weigh In On Acadian Asset Management

Several large investors have recently modified their holdings of AAMI. Allworth Financial LP increased its stake in Acadian Asset Management by 57.9% in the second quarter. Allworth Financial LP now owns 682 shares of the company's stock valued at $49,000 after purchasing an additional 250 shares during the period. PNC Financial Services Group Inc. increased its position in Acadian Asset Management by 12.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,009 shares of the company's stock valued at $164,000 after acquiring an additional 334 shares during the period. ANB Bank increased its position in Acadian Asset Management by 5.0% in the 1st quarter. ANB Bank now owns 8,588 shares of the company's stock valued at $467,000 after acquiring an additional 410 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in Acadian Asset Management by 4.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 10,735 shares of the company's stock valued at $768,000 after acquiring an additional 469 shares during the last quarter. Finally, State of Wyoming grew its stake in shares of Acadian Asset Management by 5.8% in the 4th quarter. State of Wyoming now owns 9,274 shares of the company's stock valued at $436,000 after purchasing an additional 511 shares during the last quarter. 98.69% of the stock is owned by institutional investors and hedge funds.

Acadian Asset Management Company Profile

Acadian Asset Management Inc is an investment management company that provides systematic, research-driven strategies to institutional and other professional investors. Through its investment management operations, the company uses quantitative models, fundamental research, and technology to analyze global markets and construct portfolios.

Acadian's offerings include active strategies focused on global, international, emerging-market, and regional equities, as well as alternative and multi-asset solutions.

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