Franklin Resources Inc. Takes Position in Acadian Asset Management Inc. $AAMI

Franklin Resources Inc. bought a new position in Acadian Asset Management Inc. (NYSE:AAMI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 37,072 shares of the company’s stock, valued at approximately $1,306,000. Franklin Resources Inc. owned approximately 0.10% of Acadian Asset Management at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Jennison Associates LLC acquired a new position in Acadian Asset Management in the second quarter worth approximately $73,690,000. Impax Asset Management Group plc bought a new stake in shares of Acadian Asset Management during the 2nd quarter worth $35,240,000. William Blair Investment Management LLC acquired a new position in shares of Acadian Asset Management in the 2nd quarter worth $25,094,000. Geode Capital Management LLC acquired a new position in shares of Acadian Asset Management in the 2nd quarter worth $22,116,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Acadian Asset Management during the second quarter worth $7,937,000. 98.69% of the stock is owned by institutional investors and hedge funds.

Acadian Asset Management Stock Performance

AAMI stock opened at $46.71 on Friday. The firm has a 50 day simple moving average of $45.63 and a 200 day simple moving average of $42.09. Acadian Asset Management Inc. has a 52 week low of $22.60 and a 52 week high of $54.99. The stock has a market cap of $1.67 billion, a P/E ratio of 19.71 and a beta of 1.32.

Acadian Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 24th. Stockholders of record on Friday, December 12th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Friday, December 12th. Acadian Asset Management’s payout ratio is currently 1.69%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AAMI. Wall Street Zen cut Acadian Asset Management from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Acadian Asset Management in a research report on Monday, November 24th. Morgan Stanley restated a “positive” rating on shares of Acadian Asset Management in a research report on Monday, October 6th. Zacks Research cut shares of Acadian Asset Management from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, Evercore ISI set a $52.00 target price on shares of Acadian Asset Management in a research note on Thursday, November 6th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Acadian Asset Management currently has a consensus rating of “Hold” and a consensus price target of $45.67.

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.