Artisan Partners Asset Management (NYSE:APAM) Price Target Raised to $39.00 at TD Securities

Artisan Partners Asset Management (NYSE:APAM) had its target price lifted by investment analysts at TD Securities from $35.00 to $39.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “hold” rating on the asset manager’s stock. TD Securities’ price target indicates a potential downside of 2.01% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Evercore ISI cut their price target on shares of Artisan Partners Asset Management from $33.00 to $32.00 and set an “in-line” rating for the company in a research note on Thursday. TD Cowen decreased their price target on Artisan Partners Asset Management from $46.00 to $35.00 and set a “hold” rating on the stock in a research note on Wednesday, April 9th. Royal Bank of Canada dropped their price objective on Artisan Partners Asset Management from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Finally, StockNews.com downgraded shares of Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, Artisan Partners Asset Management currently has a consensus rating of “Hold” and an average price target of $39.30.

Artisan Partners Asset Management Stock Performance

APAM opened at $39.80 on Thursday. The stock’s 50 day simple moving average is $38.50 and its 200-day simple moving average is $42.79. The company has a current ratio of 0.56, a quick ratio of 0.73 and a debt-to-equity ratio of 0.47. The stock has a market cap of $3.20 billion, a PE ratio of 10.93 and a beta of 1.80. Artisan Partners Asset Management has a 1 year low of $32.75 and a 1 year high of $49.54.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings results on Tuesday, April 29th. The asset manager reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. The firm had revenue of $277.10 million for the quarter, compared to analyst estimates of $281.15 million. Artisan Partners Asset Management had a net margin of 23.36% and a return on equity of 74.02%. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 EPS. Sell-side analysts forecast that Artisan Partners Asset Management will post 3.6 EPS for the current year.

Institutional Investors Weigh In On Artisan Partners Asset Management

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APAM. Raymond James Financial Inc. bought a new stake in shares of Artisan Partners Asset Management during the fourth quarter valued at approximately $20,607,000. Vaughan Nelson Investment Management L.P. boosted its position in Artisan Partners Asset Management by 24.0% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,970,796 shares of the asset manager’s stock valued at $77,057,000 after buying an additional 381,210 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Artisan Partners Asset Management by 67,047.1% in the 1st quarter. Harbor Capital Advisors Inc. now owns 253,816 shares of the asset manager’s stock valued at $9,924,000 after buying an additional 253,438 shares during the period. Channing Capital Management LLC raised its position in shares of Artisan Partners Asset Management by 14.5% during the fourth quarter. Channing Capital Management LLC now owns 1,770,526 shares of the asset manager’s stock worth $76,221,000 after acquiring an additional 224,455 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Artisan Partners Asset Management by 98.2% during the fourth quarter. Millennium Management LLC now owns 439,057 shares of the asset manager’s stock valued at $18,901,000 after acquiring an additional 217,552 shares during the period. Institutional investors and hedge funds own 86.45% of the company’s stock.

About Artisan Partners Asset Management

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.