Acadian Asset Management (NYSE:AAMI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Acadian Asset Management (NYSE:AAMI) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Other research analysts have also recently issued reports about the company. Evercore set a $102.00 price target on Acadian Asset Management in a research note on Friday, October 9th. Weiss Ratings upgraded Acadian Asset Management from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Zacks Research cut shares of Acadian Asset Management from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Morgan Stanley lifted their price target on shares of Acadian Asset Management from $95.00 to $97.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 28th. Finally, Royal Bank Of Canada upped their price target on Acadian Asset Management from $85.00 to $88.00 and gave the stock a “sector perform” rating in a report on Friday. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Acadian Asset Management presently has an average rating of “Hold” and a consensus price target of $95.67.

Acadian Asset Management Price Performance

Shares of NYSE AAMI opened at $86.98 on Friday. The business has a 50-day moving average of $92.51 and a 200-day moving average of $73.87. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 25.51 and a beta of 1.31. Acadian Asset Management has a fifty-two week low of $41.47 and a fifty-two week high of $98.52.

Acadian Asset Management (NYSE:AAMI) last announced its quarterly earnings results on Thursday, October 29th. The company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.14. Acadian Asset Management had a return on equity of 189.32% and a net margin of 15.17%. The business had revenue of $189.10 million during the quarter. On average, sell-side analysts expect that Acadian Asset Management will post 5.42 EPS for the current year.

Acadian Asset Management Dividend Announcement

The company also recently disclosed 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 0.5%. Acadian Asset Management’s payout ratio is currently 11.73%.

Hedge Funds Weigh In On Acadian Asset Management

Several institutional investors have recently modified their holdings of the company. Paulson & CO. Inc. purchased a new position in Acadian Asset Management during the second quarter valued at $417,912,000. BlackRock Inc. purchased a new position in shares of Acadian Asset Management in the 2nd quarter worth approximately $320,877,000. Jennison Associates LLC increased its position in Acadian Asset Management by 5.9% during the first quarter. Jennison Associates LLC now owns 2,022,207 shares of the company’s stock valued at $110,049,000 after acquiring an additional 112,985 shares during the last quarter. Azora Capital LP purchased a new stake in Acadian Asset Management in the second quarter worth $35,474,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Acadian Asset Management by 13.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 419,239 shares of the company’s stock valued at $23,561,000 after buying an additional 51,075 shares in the last quarter. 98.69% of the stock is currently owned by institutional investors.

About Acadian Asset Management

Acadian Asset Management Inc (NYSE:AAMI) is a global investment management firm specializing in systematic, research-driven investment strategies. The company uses quantitative analysis, data science and technology to evaluate investment opportunities and manage portfolios across global markets.

Its offerings include strategies in global and international equities, emerging markets, fixed income, multi-asset investing and alternative investments. Acadian also provides customized portfolio solutions and related investment management services for institutional clients, including pension plans, endowments, foundations, insurers, sovereign investors and wealth management organizations.

Founded in 1986, Acadian is headquartered in Boston and serves clients internationally through offices and operations in major financial centers, including London, Singapore and Sydney.