Bank of America Corp DE Purchases 36,912 Shares of Acadian Asset Management Inc. $AAMI

Key Points

• Bank of America increased its Acadian Asset Management stake by 36.8% in the first quarter, adding 36,912 shares to own 137,218 shares worth approximately $7.47 million. Institutional investors collectively own 98.69% of AAMI.
• Acadian reported quarterly earnings of $1.33 per share, beating analyst estimates of $1.03, on revenue of $183.2 million. Analysts expect full-year earnings of approximately $5.07 per share.
• AAMI shares opened at $93.66, near their 52-week high of $94.11, while the analyst consensus rating is “Moderate Buy” with an average price target of $81.67. The company also declared a quarterly dividend of $0.10 per share, yielding 0.4% annually.

Bank of America Corp DE increased its position in Acadian Asset Management Inc. (NYSE:AAMI - Free Report) by 36.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 137,218 shares of the company's stock after purchasing an additional 36,912 shares during the quarter. Bank of America Corp DE owned approximately 0.39% of Acadian Asset Management worth $7,467,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. bought a new stake in shares of Acadian Asset Management during the 2nd quarter valued at $6,964,000. American Century Companies Inc. bought a new position in shares of Acadian Asset Management during the second quarter valued at approximately $1,773,000. Russell Investments Group Ltd. bought a new position in shares of Acadian Asset Management during the second quarter valued at approximately $97,000. New York State Common Retirement Fund purchased a new position in shares of Acadian Asset Management during the second quarter valued at approximately $299,000. Finally, Quantbot Technologies LP purchased a new position in shares of Acadian Asset Management during the second quarter valued at approximately $436,000. 98.69% of the stock is currently owned by institutional investors.

Acadian Asset Management Price Performance

Acadian Asset Management stock opened at $93.66 on Wednesday. Acadian Asset Management Inc. has a one year low of $41.47 and a one year high of $94.11. The business's fifty day moving average is $82.88 and its 200 day moving average is $69.31. The stock has a market capitalization of $3.32 billion, a PE ratio of 33.09 and a beta of 1.30.

Acadian Asset Management (NYSE:AAMI - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.30. The business had revenue of $183.20 million during the quarter. Acadian Asset Management had a return on equity of 189.32% and a net margin of 15.17%. As a group, sell-side analysts expect that Acadian Asset Management Inc. will post 5.07 EPS for the current fiscal year.

Acadian Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, September 11th. Acadian Asset Management's payout ratio is presently 14.13%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AAMI. Wall Street Zen upgraded Acadian Asset Management from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 10th. Royal Bank Of Canada increased their target price on Acadian Asset Management from $72.00 to $80.00 and gave the stock a "sector perform" rating in a research note on Friday, July 31st. Weiss Ratings raised Acadian Asset Management from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday. Morgan Stanley set a $81.00 price target on Acadian Asset Management in a report on Wednesday, July 29th. Finally, Zacks Research upgraded shares of Acadian Asset Management from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $81.67.

Acadian Asset Management Company Profile

Acadian Asset Management is a global investment management firm specializing in quantitative research and systematic strategies. Since its founding in 1986, the firm has developed data-driven models designed to identify and capture investment opportunities across equity and fixed income markets. By integrating advanced analytics, proprietary risk management tools and a disciplined investment process, Acadian seeks to deliver consistent performance for institutional clients.

The firm's core offerings include institutional equity portfolios, fixed income strategies and multi-asset solutions.

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