Artisan Partners Asset Management (NYSE:APAM – Get Free Report) had its price objective dropped by equities research analysts at Royal Bank Of Canada from $45.00 to $43.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the asset manager’s stock. Royal Bank Of Canada’s target price points to a potential upside of 28.31% from the stock’s previous close.
APAM has been the subject of a number of other research reports. Evercore set a $36.00 target price on shares of Artisan Partners Asset Management in a research note on Friday, July 10th. TD Cowen reaffirmed a “hold” rating and set a $37.00 price target on shares of Artisan Partners Asset Management in a report on Friday, September 11th. Zacks Research raised Artisan Partners Asset Management from a “strong sell” rating to a “hold” rating in a research report on Monday, September 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Artisan Partners Asset Management in a report on Tuesday, September 29th. Finally, The Goldman Sachs Group cut their target price on Artisan Partners Asset Management from $35.00 to $31.00 and set a “sell” rating on the stock in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.75.
View Our Latest Stock Analysis on APAM
Artisan Partners Asset Management Stock Down 0.4%
Artisan Partners Asset Management (NYSE:APAM – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The asset manager reported $0.94 EPS for the quarter, topping the consensus estimate of $0.91 by $0.03. Artisan Partners Asset Management had a net margin of 24.08% and a return on equity of 73.11%. The company had revenue of $307.91 million during the quarter, compared to analysts’ expectations of $301.32 million. During the same quarter in the previous year, the business posted $0.83 EPS. The firm’s revenue was up 8.9% on a year-over-year basis. As a group, equities research analysts predict that Artisan Partners Asset Management will post 3.86 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, EVP Gregory Ramirez sold 7,000 shares of the firm’s stock in a transaction that occurred 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. This trade 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. Company insiders own 11.30% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its stake in Artisan Partners Asset Management by 20.9% during the third quarter. Farther Finance Advisors LLC now owns 3,148 shares of the asset manager’s stock worth $114,000 after buying an additional 545 shares during the period. QRG Capital Management Inc. lifted its holdings in shares of Artisan Partners Asset Management by 11.0% during the 2nd quarter. QRG Capital Management Inc. now owns 33,499 shares of the asset manager’s stock valued at $1,157,000 after acquiring an additional 3,319 shares in the last quarter. Engineers Gate Manager LP boosted its position in Artisan Partners Asset Management by 73.2% during the 2nd quarter. Engineers Gate Manager LP now owns 14,200 shares of the asset manager’s stock worth $490,000 after purchasing an additional 6,000 shares during the period. Squarepoint Ops LLC boosted its position in Artisan Partners Asset Management by 39.8% during the 2nd quarter. Squarepoint Ops LLC now owns 66,967 shares of the asset manager’s stock worth $2,312,000 after purchasing an additional 19,069 shares during the period. Finally, Allworth Financial LP increased its holdings in Artisan Partners Asset Management by 19.4% in the 2nd quarter. Allworth Financial LP now owns 3,691 shares of the asset manager’s stock valued at $127,000 after purchasing an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 86.45% of the company’s stock.
Artisan Partners Asset Management Company Profile
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.
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