Zacks Research upgraded shares of Acadian Asset Management (NYSE:AAMI – Free Report) from a hold rating to a strong-buy rating in a report issued on Monday,Zacks reports.
AAMI has been the subject of several other research reports. Weiss Ratings raised shares of Acadian Asset Management from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday. Wall Street Zen cut shares of Acadian Asset Management from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Morgan Stanley upgraded Acadian Asset Management from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $97.00 to $110.00 in a report on Thursday, November 5th. Royal Bank Of Canada raised their target price on Acadian Asset Management from $85.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Friday, October 30th. Finally, Evercore set a $102.00 price target on Acadian Asset Management in a research note on Friday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $100.00.
Get Our Latest Research Report on AAMI
Acadian Asset Management Stock Up 1.7%
AAMI opened at $97.65 on Monday. The company has a 50-day simple moving average of $92.25 and a 200 day simple moving average of $75.01. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of 28.64 and a beta of 1.29. Acadian Asset Management has a twelve month low of $41.47 and a twelve month high of $98.52.
Acadian Asset Management (NYSE:AAMI – Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.14. Acadian Asset Management had a net margin of 17.02% and a return on equity of 139.70%. The business had revenue of $189.10 million for the quarter. Sell-side analysts anticipate that Acadian Asset Management will post 5.73 EPS for the current fiscal year.
Acadian Asset Management Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 23rd. Investors of record on Friday, December 11th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, December 11th. This represents a $0.40 annualized dividend and a yield of 0.4%. Acadian Asset Management’s dividend payout ratio (DPR) is currently 11.73%.
Hedge Funds Weigh In On Acadian Asset Management
Institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC grew its stake in shares of Acadian Asset Management by 17.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 754 shares of the company’s stock valued at $69,000 after buying an additional 112 shares during the period. GAMMA Investing LLC raised its stake in Acadian Asset Management by 11.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,345 shares of the company’s stock worth $123,000 after buying an additional 136 shares during the period. ProShare Advisors LLC boosted its holdings in Acadian Asset Management by 3.4% in the third quarter. ProShare Advisors LLC now owns 4,156 shares of the company’s stock worth $381,000 after acquiring an additional 137 shares in the last quarter. Summit Global Investments boosted its holdings in Acadian Asset Management by 1.2% in the third quarter. Summit Global Investments now owns 17,115 shares of the company’s stock worth $1,570,000 after acquiring an additional 207 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in Acadian Asset Management by 57.9% in the second quarter. Allworth Financial LP now owns 682 shares of the company’s stock worth $49,000 after acquiring an additional 250 shares in the last quarter. Institutional investors and hedge funds own 98.69% of the company’s stock.
About Acadian Asset Management
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.
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