Summit Global Investments Takes $1.21 Million Position in Acadian Asset Management Inc. $AAMI

Summit Global Investments bought a new stake in shares of Acadian Asset Management Inc. (NYSE:AAMI) during the 2nd quarter, Holdings Channel.com reports. The firm bought 16,908 shares of the company’s stock, valued at approximately $1,209,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. acquired a new position in shares of Acadian Asset Management during the second quarter worth about $6,964,000. American Century Companies Inc. purchased a new stake in shares of Acadian Asset Management in the second quarter worth about $1,773,000. Russell Investments Group Ltd. acquired a new stake in shares of Acadian Asset Management in the second quarter valued at about $97,000. New York State Common Retirement Fund acquired a new stake in shares of Acadian Asset Management in the second quarter valued at about $299,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Acadian Asset Management during the 2nd quarter valued at about $436,000. 98.69% of the stock is owned by hedge funds and other institutional investors.

Acadian Asset Management Stock Performance

NYSE:AAMI opened at $92.67 on Friday. Acadian Asset Management Inc. has a one year low of $41.47 and a one year high of $93.82. The business’s 50-day simple moving average is $81.00 and its 200 day simple moving average is $67.38. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 32.74 and a beta of 1.30.

Acadian Asset Management (NYSE:AAMI) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.30. Acadian Asset Management had a return on equity of 189.32% and a net margin of 15.17%.The firm had revenue of $183.20 million during the quarter. On average, equities research analysts predict that Acadian Asset Management Inc. will post 5.07 EPS for the current year.

Acadian Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Friday, September 11th. Acadian Asset Management’s dividend payout ratio is 14.13%.

Analyst Ratings Changes

AAMI has been the topic of several recent research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Acadian Asset Management in a research report on Friday, August 7th. Wall Street Zen upgraded shares of Acadian Asset Management from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Zacks Research upgraded shares of Acadian Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Royal Bank Of Canada boosted their target price on shares of Acadian Asset Management from $72.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Friday, July 31st. Finally, Evercore set a $84.00 price target on shares of Acadian Asset Management in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.67.

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.