Renaissance Technologies LLC Sells 37,784 Shares of Acadian Asset Management Inc. $AAMI

Key Points

• Renaissance Technologies cut its Acadian Asset Management stake by 38.4%, selling 37,784 shares and retaining 60,544 shares worth approximately $3.3 million. Institutional investors collectively own 98.69% of AAMI.
• Analysts maintain a generally positive outlook, with an average “Moderate Buy” rating and an average price target of $81.67; individual targets range from $80 to $84.
• Acadian reported quarterly EPS of $1.33, surpassing the $1.03 consensus estimate, and declared a $0.10 quarterly dividend, equivalent to a $0.40 annual payout and a 0.4% yield.

Renaissance Technologies LLC decreased its stake in shares of Acadian Asset Management Inc. (NYSE:AAMI - Free Report) by 38.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 60,544 shares of the company's stock after selling 37,784 shares during the period. Renaissance Technologies LLC owned 0.17% of Acadian Asset Management worth $3,295,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. acquired a new position in shares of Acadian Asset Management in the second quarter valued at approximately $6,964,000. American Century Companies Inc. bought a new position in Acadian Asset Management during the second quarter worth about $1,773,000. Russell Investments Group Ltd. acquired a new stake in shares of Acadian Asset Management in the second quarter valued at approximately $97,000. New York State Common Retirement Fund bought a new position in Acadian Asset Management during the 2nd quarter worth $299,000. Finally, Quantbot Technologies LP acquired a new position in Acadian Asset Management in the 2nd quarter valued at $436,000. Institutional investors and hedge funds own 98.69% of the company's stock.

Analysts Set New Price Targets

AAMI has been the subject of a number of analyst reports. Royal Bank Of Canada boosted their price target on Acadian Asset Management from $72.00 to $80.00 and gave the company a "sector perform" rating in a research note on Friday, July 31st. Wall Street Zen upgraded shares of Acadian Asset Management from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 10th. Evercore set a $84.00 target price on shares of Acadian Asset Management in a report on Friday, July 10th. Morgan Stanley set a $81.00 target price on shares of Acadian Asset Management in a research report on Wednesday, July 29th. Finally, Weiss Ratings downgraded shares of Acadian Asset Management from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Acadian Asset Management presently has an average rating of "Moderate Buy" and an average price target of $81.67.

Acadian Asset Management Stock Down 1.9%

Shares of AAMI stock opened at $89.85 on Friday. The business has a fifty day simple moving average of $79.14 and a 200 day simple moving average of $66.07. The company has a market cap of $3.20 billion, a P/E ratio of 31.75 and a beta of 1.30. Acadian Asset Management Inc. has a twelve month low of $41.47 and a twelve month high of $93.61.

Acadian Asset Management (NYSE:AAMI - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.03 by $0.30. The firm 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, equities research analysts anticipate that Acadian Asset Management Inc. will post 5.07 earnings per share for the current fiscal year.

Acadian Asset Management Announces Dividend

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 paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $0.40 annualized dividend and a yield of 0.4%. Acadian Asset Management's dividend payout ratio is presently 14.13%.

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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