Acadian Asset Management (NYSE:AAMI) Stock Breaks Above 50 Day Moving Average - What's Next?

Key Points

• AAMI crossed above its 50-day moving average, trading as high as $96.46 and last changing hands at about $95.87, compared with a 50-day average of $92.17.
• Analyst views lean positive: the consensus is “Moderate Buy” with an average price target of $100. Morgan Stanley upgraded the stock to Overweight and raised its target to $110.
• Acadian reported quarterly EPS of $1.36, beating the $1.22 consensus estimate, and announced a quarterly dividend of $0.10 per share, equal to a 0.4% annualized yield.

Acadian Asset Management Inc. (NYSE:AAMI - Get Free Report)'s share price crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $92.17 and traded as high as $96.46. Acadian Asset Management shares last traded at $95.8670, with a volume of 805,438 shares traded.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Morgan Stanley raised Acadian Asset Management from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $97.00 to $110.00 in a research report on Thursday, November 5th. Evercore set a $102.00 price objective on shares of Acadian Asset Management in a report on Friday, October 9th. Wall Street Zen lowered shares of Acadian Asset Management from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Weiss Ratings upgraded shares of Acadian Asset Management from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, October 8th. Finally, Royal Bank Of Canada increased their target price on shares of Acadian Asset Management from $85.00 to $88.00 and gave the company a "sector perform" rating in a report on Friday, October 30th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $100.00.

Acadian Asset Management Stock Performance

The business has a 50 day moving average price of $92.17 and a two-hundred day moving average price of $74.80. The stock has a market cap of $3.40 billion, a PE ratio of 28.11 and a beta of 1.29.

Acadian Asset Management (NYSE:AAMI - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The company reported $1.36 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.14. The company had revenue of $189.10 million during the quarter. Acadian Asset Management had a return on equity of 139.70% and a net margin of 17.02%. As a group, research analysts anticipate that Acadian Asset Management Inc. will post 5.73 earnings per share for the current year.

Acadian Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 23rd. Shareholders of record on Friday, December 11th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, December 11th. Acadian Asset Management's dividend payout ratio is 11.73%.

Institutional Investors Weigh In On Acadian Asset Management

Large investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Acadian Asset Management by 53.5% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 103,504 shares of the company's stock worth $7,403,000 after acquiring an additional 36,083 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Acadian Asset Management in the 2nd quarter valued at about $1,266,000. Walleye Capital LLC bought a new stake in Acadian Asset Management in the 2nd quarter valued at about $5,906,000. Summit Global Investments bought a new stake in Acadian Asset Management in the 2nd quarter valued at about $1,209,000. Finally, Legal & General Group Plc purchased a new stake in Acadian Asset Management during the second quarter valued at about $4,864,000. 98.69% of the stock is owned by hedge funds and other institutional investors.

Acadian Asset Management Company Profile

Acadian Asset Management is a global investment manager specializing in systematic, data-driven investment strategies. Founded in 1986, the firm applies quantitative research and technology to analyze markets and build portfolios.

The firm offers investment strategies across global, international and emerging-markets equities, as well as multi-asset and alternative investments. Its offerings include long-only and long-short approaches and customized portfolio solutions for institutional investors and other clients.

Based in Boston, Acadian serves clients around the world, including through offices in several major financial centers.

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