Principal Financial Group Inc. Boosts Stock Position in Acadian Asset Management Inc. $AAMI

Principal Financial Group Inc. raised its holdings in Acadian Asset Management Inc. (NYSE:AAMI) by 13.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,527 shares of the company’s stock after buying an additional 24,885 shares during the period. Principal Financial Group Inc. owned about 0.57% of Acadian Asset Management worth $11,130,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. JPMorgan Chase & Co. purchased a new position in shares of Acadian Asset Management in the 2nd quarter valued at about $6,964,000. American Century Companies Inc. acquired a new stake in shares of Acadian Asset Management during the 2nd quarter worth about $1,773,000. Russell Investments Group Ltd. purchased a new stake in Acadian Asset Management during the second quarter worth approximately $97,000. New York State Common Retirement Fund purchased a new stake in Acadian Asset Management during the second quarter worth approximately $299,000. Finally, Quantbot Technologies LP acquired a new position in Acadian Asset Management in the second quarter valued at approximately $436,000. 98.69% of the stock is owned by hedge funds and other institutional investors.

Acadian Asset Management Trading Up 0.7%

AAMI stock opened at $80.81 on Friday. The company has a market capitalization of $2.88 billion, a P/E ratio of 34.39 and a beta of 1.32. Acadian Asset Management Inc. has a twelve month low of $39.20 and a twelve month high of $85.73. The business has a 50 day simple moving average of $76.11 and a 200-day simple moving average of $63.59.

Acadian Asset Management (NYSE:AAMI) last announced its earnings results on Thursday, April 30th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.11. Acadian Asset Management had a net margin of 13.78% and a return on equity of 185.73%. The business had revenue of $165.00 million for the quarter. Research analysts predict that Acadian Asset Management Inc. will post 5.11 EPS for the current fiscal year.

Insider Transactions at Acadian Asset Management

In other Acadian Asset Management news, CAO Richard Jonathan Hart sold 100,000 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $66.97, for a total transaction of $6,697,000.00. Following the transaction, the chief accounting officer directly owned 73,863 shares of the company’s stock, valued at approximately $4,946,605.11. This trade represents a 57.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 22.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wall Street Zen upgraded shares of Acadian Asset Management from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Royal Bank Of Canada boosted their price objective on shares of Acadian Asset Management from $66.00 to $72.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 2nd. Morgan Stanley upped their target price on shares of Acadian Asset Management from $60.00 to $78.00 and gave the company an “equal weight” rating in a report on Friday, June 26th. Zacks Research raised shares of Acadian Asset Management from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Finally, Evercore set a $84.00 price target on shares of Acadian Asset Management in a research note on Friday, July 10th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $78.00.

Acadian Asset Management Profile

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.