Acadian Asset Management (NYSE:AAMI) Raised to Strong-Buy at Zacks Research

Acadian Asset Management (NYSE:AAMI) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday, Zacks reports.

AAMI has been the topic of several other research reports. Evercore set a $102.00 price target on Acadian Asset Management in a report on Friday, October 9th. Morgan Stanley raised shares of Acadian Asset Management from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $97.00 to $110.00 in a report on Thursday, November 5th. Weiss Ratings upgraded shares of Acadian Asset Management from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday. Wall Street Zen downgraded shares of Acadian Asset Management from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Finally, Royal Bank Of Canada lifted their target price on shares of Acadian Asset Management from $85.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Acadian Asset Management currently has a consensus rating of “Buy” and an average target price of $100.00.

Acadian Asset Management Stock Performance

Shares of Acadian Asset Management stock opened at $97.65 on Monday. Acadian Asset Management has a one year low of $41.47 and a one year high of $98.52. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 28.64 and a beta of 1.29. The business’s 50 day moving average price is $92.25 and its 200 day moving average price is $75.01.

Acadian Asset Management (NYSE:AAMI) last released its quarterly earnings data on Thursday, October 29th. The company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.14. The company had revenue of $189.10 million for the quarter. Acadian Asset Management had a return on equity of 139.70% and a net margin of 17.02%. On average, analysts predict that Acadian Asset Management will post 5.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Acadian Asset Management

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Boston Partners grew its holdings in shares of Acadian Asset Management by 63.5% during the 3rd quarter. Boston Partners now owns 86,170 shares of the company’s stock worth $7,903,000 after purchasing an additional 33,482 shares during the period. Voya Investment Management LLC raised its holdings in Acadian Asset Management by 4.0% in the 3rd quarter. Voya Investment Management LLC now owns 18,939 shares of the company’s stock valued at $1,737,000 after buying an additional 725 shares during the period. Public Sector Pension Investment Board lifted its position in Acadian Asset Management by 4.5% in the third quarter. Public Sector Pension Investment Board now owns 136,786 shares of the company’s stock valued at $12,476,000 after buying an additional 5,889 shares during the last quarter. Global Retirement Partners LLC lifted its position in Acadian Asset Management by 1,452.2% in the third quarter. Global Retirement Partners LLC now owns 714 shares of the company’s stock valued at $65,000 after buying an additional 668 shares during the last quarter. Finally, HighTower Advisors LLC purchased a new position in Acadian Asset Management during the third quarter worth about $3,308,000. Hedge funds and other institutional investors own 98.69% of the company’s stock.

About Acadian Asset Management

Acadian Asset Management is a global investment manager specializing in systematic, data-driven investment strategies. Founded in 1986, the firm applies quantitative research and technology to analyze markets and build portfolios. The firm offers investment strategies across global, international and emerging-markets equities, as well as multi-asset and alternative investments. Its offerings include long-only and long-short approaches and customized portfolio solutions for institutional investors and other clients.