Artisan Partners Asset Management (NYSE:APAM) Posts Earnings Results, Beats Expectations By $0.07 EPS

Artisan Partners Asset Management (NYSE:APAM) released its quarterly earnings data on Tuesday. The asset manager reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.07, FiscalAI reports. The business had revenue of $312.50 million during the quarter, compared to the consensus estimate of $307.60 million. Artisan Partners Asset Management had a return on equity of 73.11% and a net margin of 24.08%.

Artisan Partners Asset Management Stock Performance

Shares of APAM stock traded down $0.07 during trading on Tuesday, reaching $33.27. 1,010,548 shares of the company’s stock were exchanged, compared to its average volume of 827,622. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $2.70 billion, a PE ratio of 8.08 and a beta of 1.70. Artisan Partners Asset Management has a twelve month low of $30.86 and a twelve month high of $46.53. The firm’s fifty day moving average price is $37.36 and its 200-day moving average price is $38.52.

Insider Transactions at Artisan Partners Asset Management

In other Artisan Partners Asset Management news, EVP Gregory Ramirez sold 7,000 shares of Artisan Partners Asset Management stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $42.59, for a total transaction of $298,130.00. Following the completion of the transaction, the executive vice president directly owned 109,194 shares of the company’s stock, valued at $4,650,572.46. The trade was a 6.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on APAM shares. Zacks Research lowered shares of Artisan Partners Asset Management from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 13th. Royal Bank Of Canada lowered their target price on Artisan Partners Asset Management from $45.00 to $43.00 and set an “outperform” rating for the company in a report on Friday, October 9th. The Goldman Sachs Group decreased their target price on shares of Artisan Partners Asset Management from $35.00 to $31.00 and set a “sell” rating for the company in a research report on Friday, October 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Artisan Partners Asset Management in a research note on Tuesday, September 29th. Finally, TD Cowen cut their target price on shares of Artisan Partners Asset Management from $37.00 to $33.00 and set a “hold” rating for the company in a research note on Monday, October 12th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Artisan Partners Asset Management presently has a consensus rating of “Reduce” and a consensus target price of $35.25.

Artisan Partners Asset Management Company Profile

Artisan Partners Asset Management Inc is an investment management company that provides actively managed investment strategies to institutional and intermediary clients, as well as certain private wealth investors. The company operates through Artisan Partners, L.P. and related entities, offering investment expertise across equity, fixed-income and alternative asset classes.

Its products and services include strategies focused on U.S. and international equities, emerging markets, non-U.S.