PNC Financial Services Group Inc. Takes Position in Acadian Asset Management Inc. $AAMI

PNC Financial Services Group Inc. purchased 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 firm purchased 2,915 shares of the company’s stock, valued at approximately $103,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Exchange Traded Concepts LLC purchased a new stake in Acadian Asset Management in the 2nd quarter worth about $1,882,000. GAMMA Investing LLC bought a new position in shares of Acadian Asset Management during the second quarter valued at approximately $37,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Acadian Asset Management in the second quarter worth approximately $44,000. State of Alaska Department of Revenue bought a new stake in shares of Acadian Asset Management during the 2nd quarter worth approximately $562,000. Finally, Kendall Capital Management purchased a new position in Acadian Asset Management during the 2nd quarter valued at $357,000. 98.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on AAMI shares. Wall Street Zen downgraded Acadian Asset Management from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Zacks Research cut shares of Acadian Asset Management from a “strong-buy” rating to a “hold” rating in a report on Friday, October 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Acadian Asset Management in a research note on Monday, November 24th. Morgan Stanley reissued a “positive” rating on shares of Acadian Asset Management in a research report on Monday, October 6th. Finally, Evercore ISI set a $52.00 target price on shares of Acadian Asset Management in a research note on Thursday, November 6th. Two equities 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, the stock presently has an average rating of “Hold” and a consensus price target of $45.67.

Acadian Asset Management Price Performance

AAMI stock opened at $44.84 on Monday. Acadian Asset Management Inc. has a 1-year low of $22.60 and a 1-year high of $54.99. The business has a 50-day moving average price of $45.96 and a 200 day moving average price of $41.73. The company has a market capitalization of $1.60 billion, a P/E ratio of 18.92 and a beta of 1.32.

Acadian Asset Management Dividend Announcement

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

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.