Artisan Partners Asset Management Inc. (NYSE:APAM) Stock Has Average Price Target of $34.75

Shares of Artisan Partners Asset Management Inc. (NYSE:APAM – Get Free Report) have been assigned a consensus rating of “Reduce” from the six analysts that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $34.75.

A number of equities analysts recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Artisan Partners Asset Management in a research note on Tuesday, September 29th. Evercore set a $33.00 price target on Artisan Partners Asset Management in a research note on Thursday, October 29th. Zacks Research downgraded Artisan Partners Asset Management from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 13th. The Goldman Sachs Group lowered their price objective on 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. Finally, Royal Bank Of Canada lowered their price objective on Artisan Partners Asset Management from $43.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, October 30th.

Get Our Latest Stock Analysis on APAM

Artisan Partners Asset Management Stock Up 4.5%

Shares of Artisan Partners Asset Management stock opened at $40.39 on Monday. Artisan Partners Asset Management has a 52-week low of $30.86 and a 52-week high of $46.53. The company has a 50 day moving average of $36.59 and a 200 day moving average of $38.29. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $3.27 billion, a P/E ratio of 9.55 and a beta of 1.74.

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

Artisan Partners Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 16th will be paid a dividend of $0.88 per share. The ex-dividend date is Monday, November 16th. This is a positive change from Artisan Partners Asset Management’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a yield of 8.7%. Artisan Partners Asset Management’s dividend payout ratio (DPR) is presently 75.65%.

Insiders Place Their Bets

In related news, EVP Gregory Ramirez sold 7,000 shares of the business’s 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 in the company, valued at $4,650,572.46. The trade was a 6.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Artisan Partners Asset Management

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Artisan Partners Asset Management by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,670,380 shares of the asset manager’s stock valued at $60,782,000 after purchasing an additional 30,863 shares during the last quarter. Wasatch Advisors LP lifted its holdings in shares of Artisan Partners Asset Management by 8.4% in the 2nd quarter. Wasatch Advisors LP now owns 1,704,243 shares of the asset manager’s stock valued at $58,848,000 after purchasing an additional 132,708 shares during the last quarter. Punch & Associates Investment Management Inc. boosted its position in shares of Artisan Partners Asset Management by 25.9% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 551,336 shares of the asset manager’s stock valued at $20,063,000 after purchasing an additional 113,491 shares during the period. Bank of America Corp DE boosted its position in shares of Artisan Partners Asset Management by 11.0% in the 1st quarter. Bank of America Corp DE now owns 343,520 shares of the asset manager’s stock valued at $12,501,000 after purchasing an additional 33,921 shares during the period. Finally, Edgestream Partners L.P. boosted its position in shares of Artisan Partners Asset Management by 101.7% in the 1st quarter. Edgestream Partners L.P. now owns 218,013 shares of the asset manager’s stock valued at $7,933,000 after purchasing an additional 109,926 shares during the period. 86.45% of the stock is currently owned by hedge funds and other institutional investors.

Artisan Partners Asset Management Company Profile

(Get Free Report)

Artisan Partners Asset Management Inc is an investment management company that provides actively managed investment strategies to institutional and intermediary clients, as well as certain private wealth investors. The company operates through Artisan Partners, L.P. and related entities, offering investment expertise across equity, fixed-income and alternative asset classes.

Its products and services include strategies focused on U.S. and international equities, emerging markets, non-U.S.

See Also

Analyst Recommendations for Artisan Partners Asset Management (NYSE:APAM)

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