Engineers Gate Manager LP Cuts Stock Position in Acadian Asset Management Inc. $AAMI

Key Points

• Engineers Gate Manager LP reduced its Acadian Asset Management stake by 35.5% in the second quarter, selling 18,690 shares and retaining 34,006 shares worth approximately $2.43 million.
• Acadian reported quarterly EPS of $1.33, beating the $1.03 analyst consensus, on revenue of $183.2 million. The company also declared a $0.10 quarterly dividend, equivalent to a 0.5% annualized yield.
• AAMI shares opened at $88.84, above the analyst consensus target of $81.67, while the overall analyst rating remains “Hold.” Institutional investors own 98.69% of the stock.

Engineers Gate Manager LP cut its stake in shares of Acadian Asset Management Inc. (NYSE:AAMI - Free Report) by 35.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,006 shares of the company's stock after selling 18,690 shares during the quarter. Engineers Gate Manager LP owned 0.10% of Acadian Asset Management worth $2,432,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AAMI. Public Employees Retirement System of Ohio acquired a new position in Acadian Asset Management in the 2nd quarter valued at $38,000. Integrated Wealth Concepts LLC purchased a new position in Acadian Asset Management during the 2nd quarter worth $40,000. Allworth Financial LP purchased a new position in Acadian Asset Management during the 2nd quarter worth $49,000. Quantbot Technologies LP acquired a new stake in shares of Acadian Asset Management in the 2nd quarter worth $67,000. Finally, Nykredit A S acquired a new stake in shares of Acadian Asset Management in the 2nd quarter worth $117,000. 98.69% of the stock is currently owned by hedge funds and other institutional investors.

Acadian Asset Management Stock Performance

Acadian Asset Management stock opened at $88.84 on Tuesday. The company has a market cap of $3.15 billion, a P/E ratio of 31.39 and a beta of 1.30. Acadian Asset Management Inc. has a one year low of $41.47 and a one year high of $98.52. The business has a fifty day moving average of $88.22 and a two-hundred day moving average of $73.33.

Acadian Asset Management (NYSE:AAMI - Get Free Report) last posted its quarterly 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 for the quarter. Acadian Asset Management had a net margin of 15.17% and a return on equity of 189.32%. Sell-side analysts predict that Acadian Asset Management Inc. will post 5.07 EPS for the current year.

Acadian Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $0.40 dividend on an annualized basis and a yield of 0.5%. Acadian Asset Management's payout ratio is currently 14.13%.

Analyst Ratings Changes

Several analysts have recently weighed in on AAMI shares. Royal Bank Of Canada lifted their target price on shares of Acadian Asset Management from $72.00 to $80.00 and gave the company a "sector perform" rating in a report on Friday, July 31st. 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. Zacks Research downgraded shares of Acadian Asset Management from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 25th. Evercore set a $84.00 price objective on Acadian Asset Management in a report on Friday, July 10th. Finally, Morgan Stanley set a $81.00 target price on Acadian Asset Management in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $81.67.

About Acadian Asset Management

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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