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

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

A number of other equities research analysts have also weighed in on the stock. Royal Bank Of Canada boosted their target price on shares of Acadian Asset Management from $66.00 to $72.00 and gave the company a “sector perform” rating in a research note on Thursday, July 2nd. Morgan Stanley set a $81.00 price objective on Acadian Asset Management in a report on Wednesday. Evercore set a $84.00 price objective on Acadian Asset Management in a research report on Friday, July 10th. Weiss Ratings downgraded Acadian Asset Management from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Finally, Wall Street Zen raised Acadian Asset Management from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $79.00.

Acadian Asset Management Price Performance

Shares of NYSE:AAMI opened at $80.89 on Tuesday. Acadian Asset Management has a 1 year low of $39.20 and a 1 year high of $85.73. The company has a market cap of $2.88 billion, a P/E ratio of 34.42 and a beta of 1.32. The stock’s fifty day moving average price is $76.86 and its 200-day moving average price is $64.38.

Acadian Asset Management (NYSE:AAMI) last issued its earnings results on Thursday, April 30th. The company reported $1.05 earnings per share for the quarter, topping 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%. On average, sell-side analysts anticipate that Acadian Asset Management will post 5.11 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Jennison Associates LLC grew its stake in shares of Acadian Asset Management by 5.9% during the 1st quarter. Jennison Associates LLC now owns 2,022,207 shares of the company’s stock valued at $110,049,000 after acquiring an additional 112,985 shares during the period. State Street Corp raised its stake in Acadian Asset Management by 0.5% during the 4th quarter. State Street Corp now owns 1,206,244 shares of the company’s stock worth $56,693,000 after acquiring an additional 5,541 shares during the period. Impax Asset Management Group plc lifted its holdings in Acadian Asset Management by 10.4% during the fourth quarter. Impax Asset Management Group plc now owns 845,451 shares of the company’s stock valued at $39,736,000 after purchasing an additional 79,967 shares in the last quarter. Soros Fund Management LLC lifted its holdings in Acadian Asset Management by 61.3% during the fourth quarter. Soros Fund Management LLC now owns 737,367 shares of the company’s stock valued at $34,656,000 after purchasing an additional 280,239 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Acadian Asset Management by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 685,272 shares of the company’s stock worth $32,212,000 after purchasing an additional 29,082 shares during the period. 98.69% of the stock is owned by hedge funds and other institutional investors.

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.