Acadian Asset Management (NYSE:AAMI) Cut to Buy at Wall Street Zen

Wall Street Zen cut shares of Acadian Asset Management (NYSE:AAMI) from a strong-buy rating to a buy rating in a research report released on Monday,Wall Street Zen reports.

Several other research firms also recently issued reports on AAMI. Royal Bank Of Canada lifted their price target on Acadian Asset Management from $80.00 to $85.00 and gave the company a “sector perform” rating in a research note on Friday, October 9th. Evercore set a $102.00 price objective on Acadian Asset Management in a report on Friday, October 9th. Zacks Research lowered shares of Acadian Asset Management from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Weiss Ratings upgraded shares of Acadian Asset Management from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Finally, Morgan Stanley boosted their price objective on shares of Acadian Asset Management from $81.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday, September 25th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $94.00.

Acadian Asset Management Stock Performance

Shares of AAMI opened at $91.04 on Monday. The firm has a market cap of $3.23 billion, a P/E ratio of 32.17 and a beta of 1.31. Acadian Asset Management has a twelve month low of $41.47 and a twelve month high of $98.52. The firm’s 50 day moving average price is $92.40 and its two-hundred day moving average price is $79.52.

Acadian Asset Management (NYSE:AAMI) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.30. The company had revenue of $183.20 million during the quarter. Acadian Asset Management had a net margin of 15.17% and a return on equity of 189.32%. On average, sell-side analysts anticipate that Acadian Asset Management will post 5.51 earnings per share for the current fiscal year.

Acadian Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Friday, September 11th. Acadian Asset Management’s payout ratio is currently 14.13%.

Institutional Trading of Acadian Asset Management

Several hedge funds and other institutional investors have recently modified their holdings of AAMI. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Acadian Asset Management by 53.5% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 103,504 shares of the company’s stock worth $7,403,000 after acquiring an additional 36,083 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Acadian Asset Management in the second quarter valued at approximately $1,266,000. Walleye Capital LLC acquired a new position in shares of Acadian Asset Management in the second quarter valued at approximately $5,906,000. Summit Global Investments bought a new position in shares of Acadian Asset Management during the second quarter worth approximately $1,209,000. Finally, Legal & General Group Plc bought a new position in shares of Acadian Asset Management during the second quarter worth approximately $4,864,000. Institutional investors own 98.69% of the company’s stock.

About Acadian Asset Management

Acadian Asset Management is a global investment management firm that uses quantitative and systematic research to design and manage portfolios for institutional and intermediary clients. The company applies data-driven processes, technology and fundamental analysis to identify investment opportunities and manage risk across global markets.

Its offerings include actively managed strategies in global and emerging-market equities, fixed income, multi-asset portfolios and alternative investments.