Acadian Asset Management (NYSE:AAMI) Trading Up 1.5% – Here’s What Happened

Acadian Asset Management Inc. (NYSE:AAMI)’s stock price shot up 1.5% during trading on Monday . The stock traded as high as $23.72 and last traded at $23.30. 29,572 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 200,897 shares. The stock had previously closed at $22.96.

Analyst Upgrades and Downgrades

A number of research firms have commented on AAMI. Morgan Stanley upgraded shares of Acadian Asset Management from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $25.00 to $26.00 in a research report on Monday. Royal Bank of Canada restated a “sector perform” rating and issued a $27.00 price target on shares of Acadian Asset Management in a research report on Monday, February 10th.

Acadian Asset Management Trading Up 12.0 %

The firm’s 50-day simple moving average is $25.02. The company has a market cap of $968.91 million, a price-to-earnings ratio of 11.67 and a beta of 1.35.

Acadian Asset Management (NYSE:AAMI) last issued its earnings results on Thursday, February 6th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.27. Acadian Asset Management had a return on equity of 1,000.27% and a net margin of 16.81%. Equities analysts predict that Acadian Asset Management Inc. will post 2.78 earnings per share for the current fiscal year.

Acadian Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date was Friday, March 14th. Acadian Asset Management’s payout ratio is 1.79%.

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.