Acadian Asset Management (AAMI) shares were up more than 5% in morning trading after the company reported Q1 GAAP earnings of $0.54 per diluted share, up from $0.37 a year earlier.

Revenue for the quarter on a GAAP basis ended March 31 was $119.9 million, up from $105.7 million a year earlier. One analyst polled by FactSet expected $113.3 million.

The company declared a quarterly interim dividend of $0.01 per share, payable on June 27 to holders of record June 13.

Price: 28.04, Change: +1.10, Percent Change: +4.08