Bank of New York Mellon Corp Buys New Holdings in Acadian Asset Management Inc. $AAMI

Bank of New York Mellon Corp bought a new stake in shares of Acadian Asset Management Inc. (NYSE:AAMI) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 225,233 shares of the company’s stock, valued at approximately $7,937,000. Bank of New York Mellon Corp owned approximately 0.63% of Acadian Asset Management as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Jennison Associates LLC bought a new position in shares of Acadian Asset Management during the 2nd quarter valued at about $73,690,000. William Blair Investment Management LLC purchased a new stake in shares of Acadian Asset Management in the second quarter worth about $25,094,000. Allspring Global Investments Holdings LLC bought a new position in Acadian Asset Management during the second quarter valued at approximately $7,512,000. Kestrel Investment Management Corp purchased a new position in Acadian Asset Management during the 2nd quarter valued at approximately $2,304,000. Finally, Teacher Retirement System of Texas bought a new stake in Acadian Asset Management in the 2nd quarter worth approximately $2,209,000. Hedge funds and other institutional investors own 98.69% of the company’s stock.

Wall Street Analyst Weigh In

AAMI has been the subject of a number of recent research reports. Royal Bank Of Canada raised their target price on shares of Acadian Asset Management from $34.00 to $42.00 and gave the company a “sector perform” rating in a report on Friday, August 1st. Zacks Research downgraded shares of Acadian Asset Management from a “strong-buy” rating to a “hold” rating in a report on Friday, October 3rd. Morgan Stanley reissued a “positive” rating on shares of Acadian Asset Management in a research note on Monday, October 6th. Evercore ISI set a $52.00 price objective on Acadian Asset Management in a research note on Thursday, November 6th. Finally, Wall Street Zen cut Acadian Asset Management from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Acadian Asset Management currently has a consensus rating of “Hold” and a consensus price target of $45.67.

Acadian Asset Management Stock Performance

Shares of NYSE AAMI opened at $43.12 on Friday. The stock has a 50 day moving average price of $46.44 and a 200 day moving average price of $40.93. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 18.19 and a beta of 1.42. Acadian Asset Management Inc. has a 52-week low of $22.60 and a 52-week high of $54.99.

Acadian Asset Management (NYSE:AAMI) last issued its earnings results on Thursday, October 30th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.03. Acadian Asset Management had a return on equity of 166.57% and a net margin of 15.70%. Analysts forecast that Acadian Asset Management Inc. will post 2.78 earnings per share for the current year.

Acadian Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 24th. Shareholders of record on Friday, December 12th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, December 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.1%. Acadian Asset Management’s dividend payout ratio (DPR) is 1.69%.

Acadian Asset Management 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.