Analysts Set Artisan Partners Asset Management Inc. (NYSE:APAM) Target Price at $38.00

Artisan Partners Asset Management Inc. (NYSE:APAM) has earned a consensus recommendation of “Reduce” from the six brokerages that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $38.00.

A number of analysts have commented on the stock. TD Cowen reaffirmed a “hold” rating and set a $37.00 target price on shares of Artisan Partners Asset Management in a report on Friday, September 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Artisan Partners Asset Management in a research report on Thursday, July 2nd. Royal Bank Of Canada upped their price objective on Artisan Partners Asset Management from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Zacks Research cut Artisan Partners Asset Management from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 22nd. Finally, Evercore set a $36.00 target price on Artisan Partners Asset Management in a research report on Friday, July 10th.

Insider Activity

In related news, EVP Gregory Ramirez sold 7,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $42.59, for a total value of $298,130.00. Following the completion of the sale, the executive vice president directly owned 109,194 shares of the company’s stock, valued at approximately $4,650,572.46. This represents a 6.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 11.30% of the company’s stock.

Hedge Funds Weigh In On Artisan Partners Asset Management

A number of hedge funds have recently modified their holdings of the company. WINTON GROUP Ltd increased its holdings in Artisan Partners Asset Management by 0.9% in the 4th quarter. WINTON GROUP Ltd now owns 29,793 shares of the asset manager’s stock valued at $1,214,000 after acquiring an additional 269 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Artisan Partners Asset Management by 2.8% during the 4th quarter. ProShare Advisors LLC now owns 12,266 shares of the asset manager’s stock valued at $500,000 after purchasing an additional 331 shares during the last quarter. WealthCollab LLC boosted its holdings in shares of Artisan Partners Asset Management by 21.9% during the 1st quarter. WealthCollab LLC now owns 2,072 shares of the asset manager’s stock valued at $75,000 after purchasing an additional 372 shares during the last quarter. Aviance Capital Partners LLC grew its position in shares of Artisan Partners Asset Management by 1.2% during the first quarter. Aviance Capital Partners LLC now owns 33,564 shares of the asset manager’s stock valued at $1,221,000 after purchasing an additional 405 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Artisan Partners Asset Management by 12.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,948 shares of the asset manager’s stock valued at $202,000 after purchasing an additional 544 shares in the last quarter. 86.45% of the stock is currently owned by institutional investors.

Artisan Partners Asset Management Stock Performance

APAM stock opened at $36.67 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.90 and a quick ratio of 0.90. Artisan Partners Asset Management has a 1 year low of $33.96 and a 1 year high of $46.53. The company has a market cap of $2.97 billion, a P/E ratio of 8.90 and a beta of 1.67. The stock’s fifty day moving average price is $40.63 and its 200-day moving average price is $38.12.

Artisan Partners Asset Management (NYSE:APAM) last announced its earnings results on Tuesday, July 28th. The asset manager reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.03. Artisan Partners Asset Management had a return on equity of 73.11% and a net margin of 24.08%.The business had revenue of $307.91 million for the quarter, compared to analysts’ expectations of $301.32 million. During the same period last year, the firm posted $0.83 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, equities analysts forecast that Artisan Partners Asset Management will post 3.91 earnings per share for the current year.

Artisan Partners Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 8.7%. This is an increase from Artisan Partners Asset Management’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Monday, August 17th. Artisan Partners Asset Management’s dividend payout ratio is 77.67%.

Artisan Partners Asset Management Company Profile

Artisan Partners Asset Management Inc is a global investment management company headquartered in Milwaukee, Wisconsin. Through its subsidiaries and investment teams, the company provides actively managed investment strategies to institutional investors, financial intermediaries and private clients.

The firm offers a range of equity, fixed-income and alternative investment strategies, including U.S. and international equities, emerging-market investments, credit and other specialized portfolios.