Acadian Asset Management (NYSE:AAMI) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Acadian Asset Management (NYSE:AAMI - Free Report) had its price target hoisted by Royal Bank Of Canada from $29.00 to $34.00 in a report published on Thursday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Other analysts have also issued research reports about the stock. Morgan Stanley lifted their target price on shares of Acadian Asset Management from $27.00 to $30.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 2nd. Evercore ISI reduced their price objective on Acadian Asset Management from $25.00 to $23.00 and set an "in-line" rating for the company in a research note on Friday, April 11th.

Acadian Asset Management Price Performance

NYSE AAMI traded up $0.18 during trading hours on Thursday, reaching $39.29. The company's stock had a trading volume of 95,993 shares, compared to its average volume of 238,679. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 16.30 and a beta of 1.36. Acadian Asset Management has a 1-year low of $21.49 and a 1-year high of $39.35. The firm has a 50-day moving average price of $31.81.

Acadian Asset Management (NYSE:AAMI - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.54 earnings per share for the quarter, hitting analysts' consensus estimates of $0.54. Acadian Asset Management had a return on equity of 299.86% and a net margin of 17.41%. As a group, sell-side analysts expect that Acadian Asset Management will post 2.78 earnings per share for the current fiscal year.

Acadian Asset Management Announces Dividend

The business also recently announced a dividend, which was paid on Friday, June 27th. Stockholders of record on Monday, June 16th were issued a dividend of $0.01 per share. This represents a dividend yield of 0.13%. The ex-dividend date of this dividend was Friday, June 13th. Acadian Asset Management's dividend payout ratio is currently 1.66%.

Institutional Investors Weigh In On Acadian Asset Management

A hedge fund recently bought a new stake in Acadian Asset Management stock. Exchange Traded Concepts LLC purchased a new position in shares of Acadian Asset Management Inc. (NYSE:AAMI - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 53,397 shares of the company's stock, valued at approximately $1,882,000. Exchange Traded Concepts LLC owned 0.15% of Acadian Asset Management as of its most recent SEC filing. Hedge funds and other institutional investors own 98.69% of the company's stock.

About Acadian Asset Management

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.