Acadian Asset Management (NYSE:AAMI) Shares Gap Up After Analyst Upgrade

Acadian Asset Management Inc. (NYSE:AAMI) gapped up prior to trading on Friday after Morgan Stanley raised their price target on the stock from $60.00 to $78.00. The stock had previously closed at $69.77, but opened at $71.79. Morgan Stanley currently has an equal weight rating on the stock. Acadian Asset Management shares last traded at $72.42, with a volume of 89,026 shares trading hands.

A number of other equities analysts have also commented on the company. Royal Bank Of Canada restated a “sector perform” rating and set a $66.00 price objective on shares of Acadian Asset Management in a research note on Wednesday, May 20th. Zacks Research cut Acadian Asset Management from a “hold” rating to a “strong sell” rating in a research report on Friday, June 5th. Weiss Ratings cut shares of Acadian Asset Management from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. 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. Finally, Evercore set a $80.00 price target on Acadian Asset Management in a research note on Monday, June 8th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $74.67.

Insider Buying and Selling

In other news, CAO Richard Jonathan Hart sold 100,000 shares of Acadian Asset Management stock in a transaction dated 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 sale, the chief accounting officer directly owned 73,863 shares of the company’s stock, valued at approximately $4,946,605.11. This trade represents a 57.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 22.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC acquired a new stake in Acadian Asset Management during the 2nd quarter worth approximately $31,000. Transamerica Financial Advisors LLC increased its position in Acadian Asset Management by 380.2% in the 4th quarter. Transamerica Financial Advisors LLC now owns 802 shares of the company’s stock valued at $38,000 after acquiring an additional 635 shares during the period. Raymond James Financial Inc. bought a new position in shares of Acadian Asset Management during the second quarter valued at $61,000. WealthCollab LLC bought a new position in shares of Acadian Asset Management during the second quarter valued at $65,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of Acadian Asset Management during the second quarter worth $97,000. Institutional investors own 98.69% of the company’s stock.

Acadian Asset Management Price Performance

The company has a market cap of $2.58 billion, a price-to-earnings ratio of 30.82 and a beta of 1.32. The business’s fifty day moving average price is $71.69 and its 200 day moving average price is $59.15.

Acadian Asset Management (NYSE:AAMI) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.11. The business had revenue of $165.00 million during the quarter. Acadian Asset Management had a return on equity of 185.73% and a net margin of 13.78%. As a group, equities research analysts anticipate that Acadian Asset Management Inc. will post 4.84 EPS for the current year.

Acadian Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.40 annualized dividend and a dividend yield of 0.6%. Acadian Asset Management’s dividend payout ratio is presently 17.02%.

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.