Acadian Asset Management Inc. (NYSE:AAMI – Get Free Report)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $79.15 and last traded at $80.0390, with a volume of 246342 shares traded. The stock had previously closed at $78.54.
Analyst Upgrades and Downgrades
A number of brokerages have commented on AAMI. Morgan Stanley lifted their price target on Acadian Asset Management from $54.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. Evercore set a $80.00 price target on Acadian Asset Management in a research note on Monday, June 8th. Zacks Research cut Acadian Asset Management from a “hold” rating to a “strong sell” rating in a research note on Friday, June 5th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $66.00 price target on shares of Acadian Asset Management in a research note on Wednesday, May 20th. Finally, Weiss Ratings cut Acadian Asset Management from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Acadian Asset Management currently has an average rating of “Hold” and an average price target of $68.67.
Check Out Our Latest Analysis on Acadian Asset Management
Acadian Asset Management Trading Up 2.2%
Acadian Asset Management (NYSE:AAMI – Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.11. Acadian Asset Management had a return on equity of 185.73% and a net margin of 13.78%.The firm had revenue of $165.00 million for the quarter. As a group, equities analysts anticipate that Acadian Asset Management Inc. will post 4.84 earnings per share for the current year.
Acadian Asset Management Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. Acadian Asset Management’s payout ratio is 17.02%.
Insider Activity
In other news, CAO Richard Jonathan Hart sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $66.97, for a total transaction of $6,697,000.00. Following the transaction, the chief accounting officer directly owned 73,863 shares of the company’s stock, valued at approximately $4,946,605.11. The trade was a 57.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 22.60% of the company’s stock.
Hedge Funds Weigh In On Acadian Asset Management
Several hedge funds have recently made changes to their positions in the business. Bank of America Corp DE increased its stake in shares of Acadian Asset Management by 36.8% during the first quarter. Bank of America Corp DE now owns 137,218 shares of the company’s stock valued at $7,467,000 after buying an additional 36,912 shares during the period. Janus Henderson Group PLC increased its stake in shares of Acadian Asset Management by 1,471.1% during the first quarter. Janus Henderson Group PLC now owns 195,337 shares of the company’s stock valued at $10,630,000 after buying an additional 182,904 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Acadian Asset Management by 6.0% during the first quarter. The Manufacturers Life Insurance Company now owns 12,937 shares of the company’s stock valued at $704,000 after buying an additional 736 shares during the period. Quantinno Capital Management LP increased its stake in shares of Acadian Asset Management by 18.2% during the first quarter. Quantinno Capital Management LP now owns 22,582 shares of the company’s stock valued at $1,229,000 after buying an additional 3,482 shares during the period. Finally, Cannell & Spears LLC increased its stake in shares of Acadian Asset Management by 42.8% during the first quarter. Cannell & Spears LLC now owns 84,513 shares of the company’s stock valued at $4,418,000 after buying an additional 25,316 shares during the period. 98.69% of the stock is owned by hedge funds and other institutional investors.
About Acadian Asset Management
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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