Acadian Asset Management (NYSE:AAMI) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Acadian Asset Management (NYSE:AAMI) from a strong-buy rating to a buy rating in a report released on Saturday.

AAMI has been the subject of several other research reports. Morgan Stanley reiterated a “positive” rating on shares of Acadian Asset Management in a research note on Monday, October 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Acadian Asset Management in a research report on Wednesday, October 8th. Royal Bank Of Canada lifted their price target on shares of Acadian Asset Management from $34.00 to $42.00 and gave the company a “sector perform” rating in a research report on Friday, August 1st. Evercore ISI restated a “positive” rating on shares of Acadian Asset Management in a research report on Friday, September 5th. Finally, Zacks Research downgraded Acadian Asset Management from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $44.33.

Acadian Asset Management Price Performance

NYSE AAMI opened at $47.23 on Friday. Acadian Asset Management has a 1 year low of $22.60 and a 1 year high of $51.65. The company has a market capitalization of $1.69 billion, a PE ratio of 19.68 and a beta of 1.39. The company has a fifty day moving average of $47.62 and a two-hundred day moving average of $37.91.

Acadian Asset Management (NYSE:AAMI) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.12. Acadian Asset Management had a net margin of 16.65% and a return on equity of 174.31%. The company had revenue of $124.90 million during the quarter, compared to the consensus estimate of $118.07 million. On average, research analysts expect that Acadian Asset Management will post 2.78 earnings per share for the current year.

Acadian Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Friday, September 12th. Acadian Asset Management’s payout ratio is presently 1.67%.

Institutional Trading of Acadian Asset Management

Several hedge funds and other institutional investors have recently bought and sold shares of AAMI. Paulson & CO. Inc. purchased a new stake in Acadian Asset Management in the 2nd quarter worth approximately $315,402,000. Jennison Associates LLC purchased a new stake in Acadian Asset Management in the 2nd quarter worth approximately $73,690,000. Impax Asset Management Group plc purchased a new stake in Acadian Asset Management in the 2nd quarter worth approximately $35,240,000. William Blair Investment Management LLC purchased a new stake in Acadian Asset Management in the 2nd quarter worth approximately $25,094,000. Finally, Geode Capital Management LLC purchased a new stake in Acadian Asset Management in the 2nd quarter worth approximately $22,116,000. 98.69% of the stock is owned by hedge funds and other institutional investors.

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.