Acadian Asset Management (NYSE:AAMI) Shares Gap Up After Strong Earnings

Shares of Acadian Asset Management Inc. (NYSE:AAMI - Get Free Report) gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $24.15, but opened at $25.62. Acadian Asset Management shares last traded at $25.98, with a volume of 6,931 shares traded.

The company reported $1.30 earnings per share for the quarter, topping the consensus estimate 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%.

Acadian Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.16%. The ex-dividend date is Friday, March 14th. Acadian Asset Management's dividend payout ratio (DPR) is 1.79%.

Analysts Set New Price Targets

Separately, Royal Bank of Canada restated a "sector perform" rating and set a $27.00 price objective on shares of Acadian Asset Management in a report on Monday.

Acadian Asset Management Stock Performance

The stock has a market capitalization of $935.99 million, a PE ratio of 11.20 and a beta of 1.46.

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.