8,577 Shares in Acadian Asset Management Inc. $AAMI Purchased by Institute for Wealth Management LLC.

Key Points

• Institute for Wealth Management LLC. acquired 8,577 shares of Acadian Asset Management Inc. valued at approximately $302,000 in the second quarter.
• Brokerage firms have shown increased confidence in AAMI, with ratings upgrades and a consensus price target raised to $40.00.
• Acadian Asset Management reported quarterly earnings of $0.64 per share, exceeding the consensus estimate, and had a strong return on equity of 174.31%.

Institute for Wealth Management LLC. acquired a new position in shares of Acadian Asset Management Inc. (NYSE:AAMI - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 8,577 shares of the company's stock, valued at approximately $302,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Signaturefd LLC purchased a new stake in Acadian Asset Management during the 2nd quarter worth about $25,000. GAMMA Investing LLC acquired a new stake in Acadian Asset Management in the 2nd quarter worth about $37,000. Public Employees Retirement System of Ohio acquired a new stake in Acadian Asset Management in the 2nd quarter worth about $44,000. Kendall Capital Management acquired a new stake in Acadian Asset Management in the 2nd quarter worth about $357,000. Finally, State of Alaska Department of Revenue acquired a new stake in Acadian Asset Management in the 2nd quarter worth about $562,000. Hedge funds and other institutional investors own 98.69% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AAMI. Evercore ISI reissued a "positive" rating on shares of Acadian Asset Management in a research note on Friday, September 5th. Morgan Stanley raised their price target on Acadian Asset Management from $27.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 2nd. Wall Street Zen raised Acadian Asset Management from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Finally, Royal Bank Of Canada raised their price target on Acadian Asset Management from $34.00 to $42.00 and gave the stock a "sector perform" rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Acadian Asset Management currently has an average rating of "Hold" and a consensus target price of $40.00.

Acadian Asset Management Price Performance

NYSE AAMI opened at $46.30 on Friday. The firm has a market capitalization of $1.66 billion, a P/E ratio of 19.29 and a beta of 1.39. Acadian Asset Management Inc. has a 1-year low of $22.60 and a 1-year high of $51.65. The business's 50-day simple moving average is $46.74 and its 200-day simple moving average is $36.09.

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. The business had revenue of $124.90 million for the quarter, compared to analyst estimates of $118.07 million. Acadian Asset Management had a return on equity of 174.31% and a net margin of 16.65%. On average, equities research analysts expect that Acadian Asset Management Inc. will post 2.78 EPS for the current fiscal year.

Acadian Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.1%. Acadian Asset Management's payout ratio is 1.67%.

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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