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

Key Points

• Royal Bank of Canada raised Acadian Asset Management’s price target to $85 from $80 while maintaining a “sector perform” rating; the new target implies 8.76% downside from the prior close.
• Analyst sentiment remains cautious overall, with a consensus “Hold” rating and an average price target of $88, despite targets ranging as high as $95.
• Acadian reported quarterly EPS of $1.33, beating the $1.03 consensus estimate, while institutional investors own a substantial 98.69% of the company’s stock.

Acadian Asset Management (NYSE:AAMI - Get Free Report) had its price target boosted by stock analysts at Royal Bank Of Canada from $80.00 to $85.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target points to a potential downside of 8.76% from the company's previous close.

Several other analysts also recently commented on the stock. Evercore set a $84.00 target price on shares of Acadian Asset Management in a report on Friday, July 10th. Weiss Ratings raised Acadian Asset Management from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, August 21st. Zacks Research downgraded Acadian Asset Management from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 25th. Wall Street Zen upgraded Acadian Asset Management from a "buy" rating to a "strong-buy" rating in a report on Sunday, October 4th. Finally, Morgan Stanley boosted their price objective on Acadian Asset Management from $81.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Friday, September 25th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $88.00.

Acadian Asset Management Stock Down 0.2%

AAMI stock opened at $93.16 on Friday. Acadian Asset Management has a twelve month low of $41.47 and a twelve month high of $98.52. The stock's 50 day moving average is $92.20 and its 200-day moving average is $78.41. The firm has a market capitalization of $3.31 billion, a PE ratio of 33.00 and a beta of 1.31.

Acadian Asset Management (NYSE:AAMI - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.30. Acadian Asset Management had a return on equity of 189.32% and a net margin of 15.17%.The business had revenue of $183.20 million during the quarter. On average, equities research analysts anticipate that Acadian Asset Management will post 5.51 earnings per share for the current fiscal year.

Institutional Trading of Acadian Asset Management

Several hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in Acadian Asset Management by 11.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,345 shares of the company's stock valued at $123,000 after purchasing an additional 136 shares during the period. Farther Finance Advisors LLC grew its position in Acadian Asset Management by 17.4% during the third quarter. Farther Finance Advisors LLC now owns 754 shares of the company's stock worth $69,000 after buying an additional 112 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Acadian Asset Management by 4.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 10,735 shares of the company's stock worth $768,000 after acquiring an additional 469 shares during the last quarter. HBK Investments L P purchased a new stake in shares of Acadian Asset Management in the 2nd quarter valued at about $715,000. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Acadian Asset Management during the 2nd quarter valued at about $40,000. Institutional investors own 98.69% of the company's stock.

About Acadian Asset Management

Acadian Asset Management is a global investment management firm that uses quantitative and systematic research to design and manage portfolios for institutional and intermediary clients. The company applies data-driven processes, technology and fundamental analysis to identify investment opportunities and manage risk across global markets.

Its offerings include actively managed strategies in global and emerging-market equities, fixed income, multi-asset portfolios and alternative investments.

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