Acadian Asset Management (NYSE:AAMI) Downgraded by Wall Street Zen to “Buy”

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

A number of other equities research analysts have also recently issued reports on AAMI. Zacks Research cut Acadian Asset Management from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 3rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Acadian Asset Management in a research report on Wednesday, October 8th. Morgan Stanley reaffirmed a “positive” rating on shares of Acadian Asset Management in a report on Monday, October 6th. Royal Bank Of Canada lifted their price objective on shares of Acadian Asset Management from $34.00 to $42.00 and gave the company a “sector perform” rating in a research note on Friday, August 1st. Finally, Evercore ISI restated a “positive” rating on shares of Acadian Asset Management in a research report on Friday, September 5th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.33.

Acadian Asset Management Stock Up 1.3%

Acadian Asset Management stock opened at $46.31 on Friday. The firm has a 50 day moving average price of $47.58 and a 200-day moving average price of $37.65. Acadian Asset Management has a twelve month low of $22.60 and a twelve month high of $51.65. The company has a market capitalization of $1.66 billion, a P/E ratio of 19.30 and a beta of 1.39.

Acadian Asset Management (NYSE:AAMI) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.12. The business had revenue of $124.90 million during the quarter, compared to analyst estimates of $118.07 million. Acadian Asset Management had a return on equity of 174.31% and a net margin of 16.65%. Equities analysts expect that Acadian Asset Management will post 2.78 EPS for the current fiscal year.

Acadian Asset Management Announces Dividend

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

Institutional Investors Weigh In On Acadian Asset Management

Hedge funds have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC bought a new position in shares of Acadian Asset Management during the 2nd quarter valued at about $1,882,000. GAMMA Investing LLC purchased a new position in Acadian Asset Management in the 2nd quarter worth $37,000. Public Employees Retirement System of Ohio purchased a new position in Acadian Asset Management in the 2nd quarter worth $44,000. State of Alaska Department of Revenue bought a new stake in Acadian Asset Management in the second quarter worth $562,000. Finally, Kendall Capital Management purchased a new stake in Acadian Asset Management during the second quarter valued at about $357,000. 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.