Artisan Partners Asset Management Inc. (APAM) Reaches New 1-Year High at $34.58

Artisan Partners Asset Management Inc. (NYSE:APAM) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $34.58 and last traded at $34.55, with a volume of 163,316 shares changing hands. The stock had previously closed at $34.45.

A number of research analysts have recently issued reports on the company. Zacks Investment Research downgraded Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a report on Friday, August 11th. BidaskClub raised Artisan Partners Asset Management from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 28th. Jefferies Group LLC reaffirmed a “hold” rating and set a $32.00 price target on shares of Artisan Partners Asset Management in a report on Tuesday, September 26th. Sidoti raised Artisan Partners Asset Management from a “neutral” rating to a “buy” rating in a report on Friday, August 4th. They noted that the move was a valuation call. Finally, Royal Bank Of Canada set a $36.00 price target on Artisan Partners Asset Management and gave the company a “buy” rating in a report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $30.56.

The company’s 50 day moving average price is $31.56 and its 200-day moving average price is $30.07. The stock has a market capitalization of $1.71 billion, a P/E ratio of 20.35 and a beta of 1.77.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings results on Monday, July 31st. The asset manager reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.01). Artisan Partners Asset Management had a return on equity of 78.75% and a net margin of 11.37%. The firm had revenue of $196.20 million for the quarter, compared to analyst estimates of $194.25 million. During the same period in the prior year, the firm posted $0.53 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. On average, equities analysts forecast that Artisan Partners Asset Management Inc. will post $2.35 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APAM. Bank of New York Mellon Corp raised its stake in shares of Artisan Partners Asset Management by 14.1% during the 1st quarter. Bank of New York Mellon Corp now owns 655,986 shares of the asset manager’s stock valued at $18,105,000 after buying an additional 80,938 shares during the last quarter. Comerica Bank purchased a new position in shares of Artisan Partners Asset Management during the 1st quarter valued at about $308,000. UBS Asset Management Americas Inc. raised its stake in shares of Artisan Partners Asset Management by 61.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 27,197 shares of the asset manager’s stock valued at $751,000 after buying an additional 10,395 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Artisan Partners Asset Management by 66.3% during the 1st quarter. Ameriprise Financial Inc. now owns 174,373 shares of the asset manager’s stock valued at $4,813,000 after buying an additional 69,500 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Artisan Partners Asset Management by 1.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 21,685 shares of the asset manager’s stock valued at $600,000 after buying an additional 296 shares during the last quarter. Institutional investors and hedge funds own 65.63% of the company’s stock.

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About Artisan Partners Asset Management

Artisan Partners Asset Management Inc is an investment management company. The Company provides a range of the United States, non-United States and global investment strategies, each of which is managed by one of its investment teams. The Company provides investment management services to separate accounts, mutual funds and other pooled investment vehicles.

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