Shares of Acadian Asset Management Inc. (AAMI) surged 6.2% in pre-market trading on Thursday after the asset management firm reported better-than-expected financial results for the fourth quarter of 2024.
For Q4, Acadian Asset Management posted adjusted earnings per share of $1.30, beating Wall Street's consensus estimate of $0.94 by a wide margin. Revenue for the quarter came in at $166.7 million, exceeding the $148.7 million consensus by around 12%. Both the top and bottom line figures represented solid year-over-year growth.
Based in Boston, Acadian is a leading investment management company with approximately $117 billion in assets under management as of the end of 2024. The firm offers global institutional investors access to systematic investment strategies across various asset classes. Acadian's strong Q4 performance likely reflects robust demand for its investment strategies and effective portfolio management amid the recent market environment.