Maryland State Retirement & Pension System Takes $278,000 Position in Acadian Asset Management Inc. $AAMI

Key Points

• The Maryland State Retirement & Pension System has acquired a new position in Acadian Asset Management Inc., purchasing 7,890 shares valued at approximately $278,000.
• Institutional investors hold 98.69% of Acadian Asset Management's stock, indicating significant interest from large financial entities.
• Acadian Asset Management reported better-than-expected quarterly earnings, with $0.64 earnings per share exceeding analysts' consensus estimate of $0.52.

Maryland State Retirement & Pension System bought a new position in shares of Acadian Asset Management Inc. (NYSE:AAMI - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 7,890 shares of the company's stock, valued at approximately $278,000.

Other large investors have also recently bought and sold shares of the company. Signaturefd LLC acquired a new position in Acadian Asset Management during the second quarter valued at approximately $25,000. GAMMA Investing LLC acquired a new position in Acadian Asset Management during the second quarter valued at approximately $37,000. Public Employees Retirement System of Ohio acquired a new position in Acadian Asset Management during the second quarter valued at approximately $44,000. Institute for Wealth Management LLC. acquired a new position in Acadian Asset Management during the second quarter valued at approximately $302,000. Finally, Kendall Capital Management acquired a new position in Acadian Asset Management during the second quarter valued at approximately $357,000. 98.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on AAMI. Evercore ISI reissued a "positive" rating on shares of Acadian Asset Management in a research report on Friday, September 5th. Zacks Research cut Acadian Asset Management from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 3rd. Royal Bank Of Canada upped their price objective on Acadian Asset Management from $34.00 to $42.00 and gave the company a "sector perform" rating in a research note on Friday, August 1st. Wall Street Zen upgraded Acadian Asset Management from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Acadian Asset Management in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Acadian Asset Management presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.33.

Acadian Asset Management Price Performance

Shares of NYSE:AAMI opened at $47.56 on Wednesday. The company has a market capitalization of $1.70 billion, a P/E ratio of 19.82 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 $47.47 and its 200 day simple moving average is $37.23.

Acadian Asset Management (NYSE:AAMI - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.12. The business had revenue of $124.90 million for the quarter, compared to the consensus estimate of $118.07 million. Acadian Asset Management had a return on equity of 174.31% and a net margin of 16.65%. On average, sell-side analysts anticipate 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 dividend on an annualized basis and a yield of 0.1%. Acadian Asset Management's dividend payout ratio is currently 1.67%.

Acadian Asset Management Company Profile

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.

Want to see what other hedge funds are holding AAMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Acadian Asset Management Inc. (NYSE:AAMI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.