Acadian Asset Management (NYSE:AAMI) Given New $78.00 Price Target at Morgan Stanley

Acadian Asset Management (NYSE:AAMI) had its price target boosted by equities research analysts at Morgan Stanley from $60.00 to $78.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 8.89% from the company’s previous close.

A number of other analysts also recently issued reports on the company. Zacks Research downgraded Acadian Asset Management from a “hold” rating to a “strong sell” rating in a research report on Friday, June 5th. Evercore set a $80.00 price target on Acadian Asset Management in a research report on Monday, June 8th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $66.00 price target on shares of Acadian Asset Management in a research note on Wednesday, May 20th. Weiss Ratings lowered Acadian Asset Management from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Finally, Wall Street Zen raised shares of Acadian Asset Management from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $74.67.

Acadian Asset Management Stock Up 2.7%

AAMI opened at $71.63 on Friday. Acadian Asset Management has a twelve month low of $34.34 and a twelve month high of $85.73. The company’s 50-day moving average price is $71.69 and its two-hundred day moving average price is $59.15. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 30.47 and a beta of 1.32.

Acadian Asset Management (NYSE:AAMI) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.11. Acadian Asset Management had a net margin of 13.78% and a return on equity of 185.73%. The company had revenue of $165.00 million during the quarter. As a group, sell-side analysts anticipate that Acadian Asset Management will post 4.84 earnings per share for the current year.

Insider Buying and Selling

In other Acadian Asset Management news, CAO Richard Jonathan Hart sold 100,000 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $66.97, for a total value of $6,697,000.00. Following the completion of the transaction, the chief accounting officer owned 73,863 shares in the company, valued at $4,946,605.11. This trade represents a 57.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 22.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Acadian Asset Management

Institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. bought a new position in shares of Acadian Asset Management in the second quarter valued at approximately $6,964,000. American Century Companies Inc. purchased a new position in shares of Acadian Asset Management during the 2nd quarter valued at $1,773,000. Russell Investments Group Ltd. purchased a new position in shares of Acadian Asset Management during the 2nd quarter valued at $97,000. New York State Common Retirement Fund bought a new position in shares of Acadian Asset Management in the second quarter worth $299,000. Finally, Quantbot Technologies LP bought a new position in shares of Acadian Asset Management in the second quarter worth $436,000. 98.69% of the stock is owned by hedge funds and other institutional investors.

About Acadian Asset Management

Acadian Asset Management is a global investment management firm specializing in quantitative research and systematic strategies. Since its founding in 1986, the firm has developed data-driven models designed to identify and capture investment opportunities across equity and fixed income markets. By integrating advanced analytics, proprietary risk management tools and a disciplined investment process, Acadian seeks to deliver consistent performance for institutional clients.

The firm’s core offerings include institutional equity portfolios, fixed income strategies and multi-asset solutions.