Artisan Partners Asset Management (NYSE:APAM) Raised to “Hold” at Zacks Research

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

A number of other research firms have also issued reports on APAM. Evercore set a $33.00 price target on shares of Artisan Partners Asset Management in a research report on Thursday, October 29th. TD Cowen lowered their price objective on shares of Artisan Partners Asset Management from $37.00 to $33.00 and set a “hold” rating on the stock in a research report on Monday, October 12th. Royal Bank Of Canada lowered their price objective on shares of Artisan Partners Asset Management from $43.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, October 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Artisan Partners Asset Management in a research note on Tuesday, September 29th. Finally, The Goldman Sachs Group cut 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. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $34.75.

Artisan Partners Asset Management Stock Down 1.0%

Shares of Artisan Partners Asset Management stock opened at $38.11 on Wednesday. The stock has a 50-day moving average price of $36.17 and a 200 day moving average price of $38.15. The company has a market cap of $3.09 billion, a P/E ratio of 9.01 and a beta of 1.74. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. Artisan Partners Asset Management has a 1 year low of $30.86 and a 1 year high of $46.53.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings data on Tuesday, October 27th. The asset manager reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.07. Artisan Partners Asset Management had a return on equity of 71.69% and a net margin of 24.54%. The firm had revenue of $312.52 million during the quarter, compared to analyst estimates of $307.60 million. During the same period last year, the company posted $1.02 EPS. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, analysts expect that Artisan Partners Asset Management will post 3.94 EPS for the current fiscal year.

Insider Buying and Selling

In other Artisan Partners Asset Management news, EVP Gregory Ramirez sold 7,000 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $42.59, for a total value of $298,130.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Artisan Partners Asset Management

Several institutional investors have recently made changes to their positions in APAM. Advisors Asset Management Inc. bought a new stake in shares of Artisan Partners Asset Management in the 3rd quarter valued at approximately $9,151,000. Wasatch Advisors LP raised its position in Artisan Partners Asset Management by 8.4% during the second quarter. Wasatch Advisors LP now owns 1,704,243 shares of the asset manager’s stock valued at $58,848,000 after acquiring an additional 132,708 shares in the last quarter. Punch & Associates Investment Management Inc. raised its position in Artisan Partners Asset Management by 25.9% during the first quarter. Punch & Associates Investment Management Inc. now owns 551,336 shares of the asset manager’s stock valued at $20,063,000 after acquiring an additional 113,491 shares in the last quarter. Edgestream Partners L.P. lifted its stake in Artisan Partners Asset Management by 101.7% in the first quarter. Edgestream Partners L.P. now owns 218,013 shares of the asset manager’s stock valued at $7,933,000 after acquiring an additional 109,926 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in Artisan Partners Asset Management by 97.3% in the first quarter. First Trust Advisors LP now owns 152,925 shares of the asset manager’s stock valued at $5,565,000 after acquiring an additional 75,426 shares during the last quarter. 86.45% of the stock is currently owned by institutional investors and hedge funds.

Artisan Partners Asset Management Company Profile

Artisan Partners Asset Management is a global investment management firm that provides active investment strategies to institutional and individual investors. The firm manages portfolios through specialized investment teams, each with its own investment approach and research process. Its offerings include equity and fixed-income strategies spanning a range of styles, market sectors and geographies. These strategies are available through vehicles such as mutual funds and separate accounts, serving clients including institutions and financial intermediaries.