First Citizens Bank & Trust Co. Invests $414,000 in Acadian Asset Management Inc. $AAMI

First Citizens Bank & Trust Co. acquired a new position in Acadian Asset Management Inc. (NYSE:AAMI) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,735 shares of the company’s stock, valued at approximately $414,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Signaturefd LLC acquired a new position in Acadian Asset Management during the 2nd quarter valued at $25,000. GAMMA Investing LLC acquired a new position in Acadian Asset Management during the 2nd quarter valued at $37,000. Public Employees Retirement System of Ohio acquired a new position in Acadian Asset Management during the 2nd quarter valued at $44,000. CWM LLC acquired a new position in Acadian Asset Management during the 2nd quarter valued at $55,000. Finally, Blue Trust Inc. acquired a new position in Acadian Asset Management during the 2nd quarter valued at $57,000. 98.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AAMI. Evercore ISI reiterated a “positive” rating on shares of Acadian Asset Management in a research note on Friday, September 5th. Wall Street Zen cut shares of Acadian Asset Management from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 18th. Weiss Ratings lowered shares of Acadian Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Zacks Research lowered shares of Acadian Asset Management from a “strong-buy” rating to a “hold” rating in a report on Friday, October 3rd. Finally, Morgan Stanley reissued a “positive” rating on shares of Acadian Asset Management in a report on Monday, October 6th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $44.33.

Acadian Asset Management Stock Performance

AAMI opened at $48.15 on Monday. The firm’s 50-day simple moving average is $47.62 and its 200-day simple moving average is $38.57. Acadian Asset Management Inc. has a twelve month low of $22.60 and a twelve month high of $51.65. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 20.06 and a beta of 1.39.

Acadian Asset Management (NYSE:AAMI) last posted its earnings results on Thursday, July 31st. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.12. Acadian Asset Management had a net margin of 16.65% and a return on equity of 174.31%. The business had revenue of $124.90 million for the quarter, compared to analyst estimates of $118.07 million. As a group, sell-side analysts anticipate that Acadian Asset Management Inc. will post 2.78 EPS for the current fiscal year.

Acadian Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.1%. Acadian Asset Management’s dividend payout ratio is currently 1.67%.

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.