Wall Street Zen Upgrades Acadian Asset Management (NYSE:AAMI) to Strong-Buy

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

A number of other brokerages have also commented on AAMI. Morgan Stanley lifted their price target on Acadian Asset Management from $27.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 2nd. Evercore ISI cut their price objective on Acadian Asset Management from $25.00 to $23.00 and set an “in-line” rating on the stock in a research note on Friday, April 11th. Finally, Royal Bank Of Canada lifted their price objective on Acadian Asset Management from $34.00 to $42.00 and gave the stock a “sector perform” rating in a research note on Friday.

Acadian Asset Management Stock Up 2.5%

NYSE:AAMI opened at $40.55 on Friday. The company has a 50-day simple moving average of $35.32. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 16.90 and a beta of 1.38. Acadian Asset Management has a twelve month low of $21.49 and a twelve month high of $42.63.

Acadian Asset Management (NYSE:AAMI) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.12. Acadian Asset Management had a return on equity of 174.31% and a net margin of 16.65%. The firm had revenue of $124.90 million for the quarter, compared to analyst estimates of $118.07 million. As a group, sell-side analysts anticipate that Acadian Asset Management will post 2.78 EPS for the current fiscal year.

Acadian Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued a dividend of $0.01 per share. The ex-dividend date is Friday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.1%. Acadian Asset Management’s payout ratio is currently 1.67%.

Institutional Investors Weigh In On Acadian Asset Management

Hedge funds and other institutional investors have recently modified their holdings of the company. William Blair Investment Management LLC purchased a new position in shares of Acadian Asset Management during the second quarter valued at approximately $25,094,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Acadian Asset Management during the second quarter valued at approximately $7,512,000. Blue Trust Inc. purchased a new position in shares of Acadian Asset Management during the second quarter valued at approximately $57,000. KLP Kapitalforvaltning AS purchased a new position in shares of Acadian Asset Management during the second quarter valued at approximately $635,000. Finally, Maryland State Retirement & Pension System purchased a new position in shares of Acadian Asset Management during the second quarter valued at approximately $278,000. Institutional investors own 98.69% of the company’s stock.

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.