Artisan Partners Asset Management (NYSE:APAM) Price Target Raised to $37.00

by · The Markets Daily

Artisan Partners Asset Management (NYSE:APAM – Free Report) had its price target hoisted by TD Cowen from $35.00 to $37.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a hold rating on the asset manager’s stock.

Several other research analysts have also recently weighed in on APAM. Zacks Research cut Artisan Partners Asset Management from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 22nd. Wall Street Zen lowered Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Royal Bank Of Canada upped their price objective on Artisan Partners Asset Management from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Artisan Partners Asset Management in a research note on Thursday, July 2nd. Finally, Evercore set a $36.00 target price on shares of Artisan Partners Asset Management in a report on Friday, July 10th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $38.00.

View Our Latest Stock Report on APAM

Artisan Partners Asset Management Price Performance

Shares of APAM opened at $39.29 on Thursday. The business’s 50-day moving average is $36.99 and its two-hundred day moving average is $38.55. The company has a market capitalization of $3.17 billion, a P/E ratio of 9.54 and a beta of 1.68. Artisan Partners Asset Management has a fifty-two week low of $33.96 and a fifty-two week high of $48.46. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.82 and a current ratio of 0.83.

Artisan Partners Asset Management (NYSE:APAM – Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The asset manager reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business 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 firm posted $0.83 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Research analysts predict that Artisan Partners Asset Management will post 3.91 earnings per share for the current year.

Artisan Partners Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be paid a $0.80 dividend. The ex-dividend date is Monday, August 17th. This represents a $3.20 annualized dividend and a dividend yield of 8.1%. This is a boost from Artisan Partners Asset Management’s previous quarterly dividend of $0.77. Artisan Partners Asset Management’s dividend payout ratio (DPR) is presently 74.76%.

Hedge Funds Weigh In On Artisan Partners Asset Management

Large investors have recently bought and sold shares of the business. WealthCollab LLC grew its holdings in Artisan Partners Asset Management by 17.0% in the second quarter. WealthCollab LLC now owns 1,700 shares of the asset manager’s stock valued at $75,000 after purchasing an additional 247 shares during the period. WINTON GROUP Ltd raised its stake in shares of Artisan Partners Asset Management by 0.9% during the 4th quarter. WINTON GROUP Ltd now owns 29,793 shares of the asset manager’s stock worth $1,214,000 after buying an additional 269 shares during the period. IFP Advisors Inc raised its stake in shares of Artisan Partners Asset Management by 45.8% during the 3rd quarter. IFP Advisors Inc now owns 955 shares of the asset manager’s stock worth $41,000 after buying an additional 300 shares during the period. California State Teachers Retirement System lifted its position in shares of Artisan Partners Asset Management by 0.5% during the 2nd quarter. California State Teachers Retirement System now owns 64,112 shares of the asset manager’s stock valued at $2,842,000 after buying an additional 317 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Artisan Partners Asset Management by 2.8% during the 4th quarter. ProShare Advisors LLC now owns 12,266 shares of the asset manager’s stock valued at $500,000 after buying an additional 331 shares in the last quarter. Institutional investors and hedge funds own 86.45% of the company’s stock.

About Artisan Partners Asset Management

(Get Free Report)

Artisan Partners Asset Management Inc is a global investment management firm that specializes in active, fundamental research-driven strategies across a range of equity, fixed income and alternative asset classes. Founded in 1994 by Andrew Ziegler, the company has built a reputation for its team-based approach to portfolio construction, emphasizing deep sector expertise and independent analysis. Its product lineup includes U.S. and international equity strategies, global emerging markets, as well as credit and multisector fixed income offerings.

Artisan Partners serves a diverse client base that spans institutional investors, intermediaries and high-net-worth individuals located in North America, Europe and Asia.

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