Artisan Partners Asset Management (NYSE:APAM) Sets New 1-Year Low – What’s Next?

Shares of Artisan Partners Asset Management Inc. (NYSE:APAM – Get Free Report) reached a new 52-week low on Monday. The stock traded as low as $33.80 and last traded at $33.7340, with a volume of 157565 shares traded. The stock had previously closed at $34.88.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on APAM shares. TD Cowen reiterated a “hold” rating and set a $37.00 target price on shares of Artisan Partners Asset Management in a research report on Friday, September 11th. Evercore set a $36.00 price target on shares of Artisan Partners Asset Management in a report on Friday, July 10th. Zacks Research upgraded shares of Artisan Partners Asset Management from a “strong sell” rating to a “hold” rating in a research report on Monday, September 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Artisan Partners Asset Management in a report on Tuesday, September 29th. Finally, Royal Bank Of Canada upped their target price on shares of Artisan Partners Asset Management from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.25.

Read Our Latest Stock Analysis on Artisan Partners Asset Management

Artisan Partners Asset Management Price Performance

The firm’s 50 day simple moving average is $39.88 and its two-hundred day simple moving average is $37.93. 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 $2.84 billion, a P/E ratio of 8.50 and a beta of 1.70.

Artisan Partners Asset Management (NYSE:APAM – Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The asset manager reported $0.94 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $301.32 million. During the same period last year, the firm earned $0.83 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, analysts predict that Artisan Partners Asset Management Inc. will post 3.86 earnings per share for the current year.

Artisan Partners Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were given a $0.80 dividend. The ex-dividend date was Monday, August 17th. This is an increase from Artisan Partners Asset Management’s previous quarterly dividend of $0.77. This represents a $3.20 annualized dividend and a yield of 9.1%. Artisan Partners Asset Management’s dividend payout ratio is presently 77.67%.

Insiders Place Their Bets

In other news, EVP Gregory Ramirez sold 7,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $42.59, for a total transaction of $298,130.00. Following the completion of the sale, the executive vice president owned 109,194 shares of the company’s stock, valued at approximately $4,650,572.46. This represents a 6.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 11.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Trust Co. of Vermont bought a new stake in Artisan Partners Asset Management in the 2nd quarter worth $28,000. Nykredit A S purchased a new position in shares of Artisan Partners Asset Management in the second quarter valued at about $40,000. Highland Investment Advisors LLC bought a new position in shares of Artisan Partners Asset Management during the second quarter valued at about $51,000. Public Employees Retirement System of Ohio bought a new position in shares of Artisan Partners Asset Management during the second quarter valued at about $52,000. Finally, Versant Capital Management Inc boosted 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 owned by hedge funds and other institutional investors.

About Artisan Partners Asset Management

(Get Free Report)

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.

Further Reading

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