Artisan Partners Asset Management (NYSE:APAM) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Artisan Partners Asset Management (NYSE:APAM) from a hold rating to a buy rating in a research note released on Tuesday morning.

A number of other research analysts have also commented on APAM. Royal Bank of Canada reiterated an “outperform” rating and issued a $50.00 price target on shares of Artisan Partners Asset Management in a research note on Monday, July 29th. TD Cowen boosted their price objective on Artisan Partners Asset Management from $41.00 to $43.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group lowered their target price on Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $44.13.

Artisan Partners Asset Management Stock Performance

APAM opened at $47.96 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.73 and a debt-to-equity ratio of 0.49. Artisan Partners Asset Management has a 12-month low of $35.44 and a 12-month high of $49.30. The business has a 50 day moving average of $43.21 and a 200-day moving average of $42.43. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 13.36 and a beta of 1.79.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings results on Tuesday, October 29th. The asset manager reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. Artisan Partners Asset Management had a return on equity of 71.50% and a net margin of 23.95%. The business had revenue of $279.60 million during the quarter, compared to the consensus estimate of $279.70 million. During the same quarter last year, the firm posted $0.75 EPS. The company’s quarterly revenue was up 12.4% on a year-over-year basis. On average, equities research analysts expect that Artisan Partners Asset Management will post 3.49 earnings per share for the current year.

Artisan Partners Asset Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 6.84%. The ex-dividend date of this dividend is Friday, November 15th. Artisan Partners Asset Management’s dividend payout ratio is currently 91.36%.

Institutional Investors Weigh In On Artisan Partners Asset Management

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Matrix Trust Co bought a new stake in Artisan Partners Asset Management during the third quarter worth about $30,000. GAMMA Investing LLC lifted its holdings in shares of Artisan Partners Asset Management by 81.5% during the 2nd quarter. GAMMA Investing LLC now owns 775 shares of the asset manager’s stock worth $32,000 after acquiring an additional 348 shares during the period. Hexagon Capital Partners LLC boosted its position in shares of Artisan Partners Asset Management by 41.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,004 shares of the asset manager’s stock worth $43,000 after acquiring an additional 296 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Artisan Partners Asset Management by 735.9% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,212 shares of the asset manager’s stock worth $52,000 after acquiring an additional 1,067 shares in the last quarter. Finally, Quarry LP bought a new position in Artisan Partners Asset Management in the second quarter valued at approximately $63,000. 86.45% of the stock is currently owned by institutional investors and hedge funds.

Artisan Partners Asset Management Company Profile

Artisan Partners Asset Management Inc is publicly owned investment manager. It provides its services to pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. funds, as well as mutual funds, non-U.S. funds and collective trusts.