Artisan Partners Asset Management (NYSE:APAM) Stock Price Target Cut by TD Cowen

Artisan Partners Asset Management (NYSE:APAM) had its target price decreased by analysts at TD Cowen from $37.00 to $33.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the asset manager’s stock. TD Cowen’s target price suggests a potential upside of 5.69% from the company’s previous close.

Other analysts also recently issued reports about the company. Zacks Research upgraded Artisan Partners Asset Management from a “strong sell” rating to a “hold” rating in a research note on Monday, September 14th. Royal Bank Of Canada dropped their target price on Artisan Partners Asset Management from $45.00 to $43.00 and set an “outperform” rating on the stock in a research report on Friday, October 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Artisan Partners Asset Management in a research note on Tuesday, September 29th. Evercore set a $34.00 price target on Artisan Partners Asset Management in a report on Friday. Finally, The Goldman Sachs Group reduced their price target on Artisan Partners Asset Management from $35.00 to $31.00 and set a “sell” rating for the company in a report on Friday, October 2nd. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $35.25.

Artisan Partners Asset Management Stock Down 3.7%

Shares of NYSE:APAM opened at $31.22 on Monday. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 7.58 and a beta of 1.70. The company has a 50 day moving average of $39.08 and a two-hundred day moving average of $37.82. Artisan Partners Asset Management has a 52-week low of $30.86 and a 52-week high of $46.53. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.41.

Artisan Partners Asset Management (NYSE:APAM) last posted its earnings results on Tuesday, July 28th. The asset manager reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. The business had revenue of $307.91 million for the quarter, compared to analysts’ expectations of $301.32 million. Artisan Partners Asset Management had a net margin of 24.08% and a return on equity of 73.11%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.83 earnings per share. As a group, analysts forecast that Artisan Partners Asset Management will post 3.86 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Gregory Ramirez sold 7,000 shares of the company’s stock in a transaction 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 sale, the executive vice president directly owned 109,194 shares of the company’s stock, valued at $4,650,572.46. This represents a 6.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 11.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Trust Co. of Vermont acquired a new position in Artisan Partners Asset Management in the second quarter worth $28,000. Nykredit A S bought a new stake in Artisan Partners Asset Management during the second quarter valued at $40,000. Highland Investment Advisors LLC acquired a new stake in shares of Artisan Partners Asset Management during the second quarter worth $51,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Artisan Partners Asset Management during the second quarter worth $52,000. Finally, Versant Capital Management Inc raised its holdings in shares of Artisan Partners Asset Management by 51.0% during the second quarter. Versant Capital Management Inc now owns 1,658 shares of the asset manager’s stock worth $57,000 after purchasing an additional 560 shares during the period. 86.45% of the stock is currently owned by institutional investors.

Artisan Partners Asset Management Company Profile

Artisan Partners Asset Management, Inc (NYSE: APAM) is a global investment management firm that provides active investment strategies to institutional investors, financial intermediaries and private clients. The company operates through affiliated investment teams with distinct approaches, investment philosophies and areas of expertise.

Artisan Partners offers a range of equity, fixed-income and alternative investment strategies. Its products and services include separately managed accounts, mutual funds, collective investment trusts and other investment vehicles designed for institutions, wealth managers and individual investors.