Morgan Stanley Upgrades Acadian Asset Management (NYSE:AAMI) to Overweight

Acadian Asset Management (NYSE:AAMI) was upgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm presently has a $110.00 target price on the stock, up from their previous target price of $97.00. Morgan Stanley‘s price target would indicate a potential upside of 21.33% from the stock’s previous close.

Several other equities research analysts also recently issued reports on AAMI. Weiss Ratings raised Acadian Asset Management from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Evercore set a $102.00 price objective on shares of Acadian Asset Management in a report on Friday, October 9th. Zacks Research lowered shares of Acadian Asset Management from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Royal Bank Of Canada raised their target price on shares of Acadian Asset Management from $85.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Friday, October 30th. Finally, Wall Street Zen raised shares of Acadian Asset Management from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 31st. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $100.00.

Acadian Asset Management Stock Performance

NYSE:AAMI traded down $1.13 during mid-day trading on Thursday, hitting $90.66. The stock had a trading volume of 757,461 shares, compared to its average volume of 400,783. Acadian Asset Management has a twelve month low of $41.47 and a twelve month high of $98.52. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of 26.59 and a beta of 1.29. The company’s 50 day simple moving average is $92.17 and its 200 day simple moving average is $74.59.

Acadian Asset Management (NYSE:AAMI) last announced its quarterly earnings results on Thursday, October 29th. The company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.14. Acadian Asset Management had a return on equity of 139.70% and a net margin of 17.02%. The firm had revenue of $189.10 million for the quarter. As a group, equities analysts forecast that Acadian Asset Management will post 5.42 earnings per share for the current year.

Hedge Funds Weigh In On Acadian Asset Management

Hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its stake in Acadian Asset Management by 115.3% in the third quarter. Russell Investments Group Ltd. now owns 53,163 shares of the company’s stock valued at $4,876,000 after purchasing an additional 28,472 shares in the last quarter. Maryland State Retirement & Pension System raised its position in shares of Acadian Asset Management by 72.5% in the 3rd quarter. Maryland State Retirement & Pension System now owns 6,574 shares of the company’s stock valued at $603,000 after buying an additional 2,764 shares in the last quarter. Illinois Municipal Retirement Fund lifted its holdings in shares of Acadian Asset Management by 4.1% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 13,769 shares of the company’s stock worth $1,263,000 after acquiring an additional 547 shares during the period. Lido Advisors LLC lifted its holdings in shares of Acadian Asset Management by 15.7% during the 3rd quarter. Lido Advisors LLC now owns 14,037 shares of the company’s stock worth $1,287,000 after acquiring an additional 1,908 shares during the period. Finally, Fulcrum Asset Management LLP lifted its holdings in shares of Acadian Asset Management by 421.6% during the 3rd quarter. Fulcrum Asset Management LLP now owns 119,270 shares of the company’s stock worth $11,030,000 after acquiring an additional 96,406 shares during the period. Institutional investors own 98.69% of the company’s stock.

About Acadian Asset Management

Acadian Asset Management Inc (NYSE:AAMI) is a global investment management firm specializing in systematic, research-driven investment strategies. The company uses quantitative analysis, data science and technology to evaluate investment opportunities and manage portfolios across global markets.

Its offerings include strategies in global and international equities, emerging markets, fixed income, multi-asset investing and alternative investments. Acadian also provides customized portfolio solutions and related investment management services for institutional clients, including pension plans, endowments, foundations, insurers, sovereign investors and wealth management organizations.

Founded in 1986, Acadian is headquartered in Boston and serves clients internationally through offices and operations in major financial centers, including London, Singapore and Sydney.