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 sent to investors on Sunday morning,Wall Street Zen reports.

Several other analysts also recently weighed in on AAMI. Royal Bank Of Canada lifted their target price on Acadian Asset Management from $85.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Friday, October 30th. 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. Zacks Research cut shares of Acadian Asset Management from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Evercore set a $102.00 price target on shares of Acadian Asset Management in a research note on Friday, October 9th. Finally, Morgan Stanley upgraded shares of Acadian Asset Management from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $97.00 to $110.00 in a report on Thursday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.00.

Acadian Asset Management Stock Performance

Shares of AAMI stock opened at $97.65 on Friday. Acadian Asset Management has a 52-week low of $41.47 and a 52-week high of $98.52. The firm has a market capitalization of $3.45 billion, a P/E ratio of 28.64 and a beta of 1.29. The stock has a 50 day moving average price of $92.25 and a 200 day moving average price of $75.01.

Acadian Asset Management (NYSE:AAMI) last announced its quarterly earnings data on Thursday, October 29th. The company reported $1.36 EPS for the quarter, beating the consensus estimate 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%. As a group, sell-side analysts forecast that Acadian Asset Management will post 5.73 EPS for the current year.

Acadian Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 23rd. Investors of record on Friday, December 11th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a $0.40 annualized dividend and a yield of 0.4%. Acadian Asset Management’s dividend payout ratio is 11.73%.

Institutional Investors Weigh In On Acadian Asset Management

Institutional investors and hedge funds have recently bought and sold shares of the company. Boston Partners grew its position 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 buying an additional 33,482 shares in the last quarter. Voya Investment Management LLC raised its holdings in shares of Acadian Asset Management by 4.0% in the third quarter. Voya Investment Management LLC now owns 18,939 shares of the company’s stock valued at $1,737,000 after acquiring an additional 725 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in shares of 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 acquiring an additional 5,889 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of 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 acquiring an additional 668 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new stake in Acadian Asset Management in the third quarter worth about $3,308,000. 98.69% of the stock is owned by institutional investors.

Acadian Asset Management Company Profile

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.