AAMI’s shares surged to a record $94.00 on Tuesday, extending gains after the asset manager reported quarterly results that exceeded expectations.
The company posted diluted earnings per share of $1.33, a 33% beat over the $1.00 estimate, while revenue rose 7.6% to $183.2 million against a $170.3 million forecast. Trading at $93.81, the stock remains just 1% below its 52-week high of $93.82, according to Investing.com data.
Over the past 12 months, AAMI’s stock has gained 82.75%, with a real total return of 83.63% as tracked by InvestingPro. The company’s market capitalization stands at $3.32 billion.
Growth in management fees, higher assets under management and steady client inflows were cited as key drivers of the performance. InvestingPro’s Fair Value analysis suggests the stock may be overvalued at current levels, though 13 exclusive subscriber tips were also highlighted for AAMI investors.
