Acadian Asset Management (NYSE:AAMI) Receives Sector Perform Rating from Royal Bank Of Canada

Acadian Asset Management (NYSE:AAMI)‘s stock had its “sector perform” rating reissued by stock analysts at Royal Bank Of Canada in a research note issued to investors on Thursday, Marketbeat Ratings reports. They currently have a $34.00 target price on the stock, up from their previous target price of $29.00. Royal Bank Of Canada’s target price indicates a potential downside of 13.33% from the company’s current price.

AAMI has been the topic of a number of other reports. Morgan Stanley boosted their target price on shares of Acadian Asset Management from $27.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 2nd. Evercore ISI lowered their price objective on shares of Acadian Asset Management from $25.00 to $23.00 and set an “in-line” rating for the company in a research report on Friday, April 11th.

Acadian Asset Management Price Performance

AAMI stock opened at $39.23 on Thursday. Acadian Asset Management has a one year low of $21.49 and a one year high of $39.35. The firm has a market cap of $1.40 billion, a PE ratio of 16.28 and a beta of 1.36. The stock has a fifty day moving average price of $32.04.

Acadian Asset Management (NYSE:AAMI) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. Acadian Asset Management had a net margin of 17.41% and a return on equity of 299.86%. Equities research analysts forecast that Acadian Asset Management will post 2.78 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Acadian Asset Management stock. Exchange Traded Concepts LLC bought a new stake in shares of Acadian Asset Management Inc. (NYSE:AAMI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 53,397 shares of the company’s stock, valued at approximately $1,882,000. Exchange Traded Concepts LLC owned about 0.15% of Acadian Asset Management at the end of the most recent reporting period. Hedge funds and other institutional investors own 98.69% of the company’s stock.

About Acadian Asset Management

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.