Artisan Partners Asset Management (NYSE:APAM) Stock Rating Upgraded by Zacks Research

Artisan Partners Asset Management (NYSE:APAM) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.

Other equities research analysts have also issued reports about the company. Royal Bank Of Canada lifted their price target on Artisan Partners Asset Management from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, July 30th. TD Cowen reiterated a “hold” rating and issued a $37.00 price objective on shares of Artisan Partners Asset Management in a report on Friday, September 11th. Evercore set a $36.00 price objective on Artisan Partners Asset Management in a research report on Friday, July 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Artisan Partners Asset Management in a report on Thursday, July 2nd. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $38.00.

Artisan Partners Asset Management Stock Performance

Shares of APAM opened at $36.67 on Monday. The company has a 50-day simple moving average of $40.63 and a two-hundred day simple moving average of $38.12. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $2.97 billion, a PE ratio of 8.90 and a beta of 1.67. Artisan Partners Asset Management has a one year low of $33.96 and a one year high of $46.53.

Artisan Partners Asset Management (NYSE:APAM) last posted its earnings results on Tuesday, July 28th. The asset manager reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $307.91 million for the quarter, compared to the consensus estimate of $301.32 million. During the same quarter in the prior year, the business earned $0.83 EPS. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, analysts anticipate that Artisan Partners Asset Management will post 3.91 EPS 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 dated Wednesday, August 19th. The shares were sold at an average price of $42.59, for a total value of $298,130.00. Following the transaction, the executive vice president owned 109,194 shares in the company, valued at $4,650,572.46. The trade was a 6.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Artisan Partners Asset Management

A number of institutional investors and hedge funds have recently bought and sold shares of APAM. Louisiana State Employees Retirement System purchased a new position in shares of Artisan Partners Asset Management in the first quarter worth $1,135,000. Dimensional Fund Advisors LP boosted its position in shares of Artisan Partners Asset Management by 1.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,670,380 shares of the asset manager’s stock valued at $60,782,000 after buying an additional 30,863 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Artisan Partners Asset Management by 11.0% during the first quarter. Bank of America Corp DE now owns 343,520 shares of the asset manager’s stock valued at $12,501,000 after buying an additional 33,921 shares during the last quarter. Squarepoint Ops LLC increased its holdings in Artisan Partners Asset Management by 39.8% in the 2nd quarter. Squarepoint Ops LLC now owns 66,967 shares of the asset manager’s stock worth $2,312,000 after buying an additional 19,069 shares in the last quarter. Finally, Vestcor Inc increased its holdings in Artisan Partners Asset Management by 154.5% in the 4th quarter. Vestcor Inc now owns 45,733 shares of the asset manager’s stock worth $1,863,000 after buying an additional 27,762 shares in the last quarter. 86.45% of the stock is currently owned by institutional investors.

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.