Acadian Asset Management (NYSE:AAMI) Cut to Hold (C+) at Weiss Ratings

Weiss Ratings lowered shares of Acadian Asset Management (NYSE:AAMI) from a buy (b-) rating to a hold (c+) rating in a report released on Friday,Weiss Ratings reports.

A number of other equities analysts have also recently commented on AAMI. Evercore ISI reaffirmed a “positive” rating on shares of Acadian Asset Management in a research note on Friday, September 5th. Zacks Research cut Acadian Asset Management from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 3rd. Royal Bank Of Canada lifted their price target on Acadian Asset Management from $34.00 to $42.00 and gave the stock a “sector perform” rating in a research note on Friday, August 1st. Morgan Stanley reaffirmed a “positive” rating on shares of Acadian Asset Management in a research note on Monday, October 6th. Finally, Wall Street Zen cut Acadian Asset Management from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 18th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $44.33.

Acadian Asset Management Price Performance

Shares of Acadian Asset Management stock opened at $48.15 on Friday. The business’s 50 day simple moving average is $47.62 and its two-hundred day simple moving average is $38.57. The stock has a market capitalization of $1.72 billion, a P/E ratio of 20.06 and a beta of 1.39. Acadian Asset Management has a one year low of $22.60 and a one year high of $51.65.

Acadian Asset Management (NYSE:AAMI) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.12. The business had revenue of $124.90 million for the quarter, compared to analysts’ expectations of $118.07 million. Acadian Asset Management had a return on equity of 174.31% and a net margin of 16.65%. Sell-side analysts expect that Acadian Asset Management will post 2.78 earnings per share for the current fiscal year.

Acadian Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.1%. Acadian Asset Management’s payout ratio is 1.67%.

Hedge Funds Weigh In On Acadian Asset Management

Several hedge funds have recently made changes to their positions in the business. Signaturefd LLC purchased a new stake in Acadian Asset Management in the second quarter worth $25,000. EverSource Wealth Advisors LLC purchased a new stake in Acadian Asset Management in the second quarter worth $31,000. GAMMA Investing LLC purchased a new stake in Acadian Asset Management in the second quarter worth $37,000. Public Employees Retirement System of Ohio purchased a new stake in Acadian Asset Management in the second quarter worth $44,000. Finally, CWM LLC purchased a new stake in Acadian Asset Management in the second quarter worth $55,000. 98.69% of the stock is owned by hedge funds and other institutional investors.

Acadian Asset Management Company Profile

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.