Artisan Partners Asset Management Inc. (NYSE:APAM) Given Average Rating of “Hold” by Brokerages
by Scott Moore · The Cerbat GemArtisan Partners Asset Management Inc. (NYSE:APAM – Get Free Report) has earned a consensus recommendation of “Hold” from the six analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $38.00.
APAM has been the subject of several research reports. TD Cowen reiterated a “hold” rating and issued a $37.00 target price on shares of Artisan Partners Asset Management in a report on Friday, September 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Artisan Partners Asset Management in a report on Thursday, July 2nd. Evercore set a $36.00 price target on Artisan Partners Asset Management in a research note on Friday, July 10th. Royal Bank Of Canada boosted their price objective 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. Finally, Zacks Research raised Artisan Partners Asset Management from a “strong sell” rating to a “hold” rating in a research report on Monday.
Read Our Latest Analysis on Artisan Partners Asset Management
Artisan Partners Asset Management Stock Up 0.5%
Shares of NYSE APAM opened at $36.51 on Friday. The company has a 50 day simple moving average of $40.64 and a 200-day simple moving average of $38.06. 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 company has a market capitalization of $2.96 billion, a P/E ratio of 8.86 and a beta of 1.67. Artisan Partners Asset Management has a 1 year low of $33.96 and a 1 year high of $46.53.
Artisan Partners Asset Management (NYSE:APAM – Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The asset manager reported $0.94 EPS for the quarter, beating the consensus estimate of $0.91 by $0.03. The business had revenue of $307.91 million for the quarter, compared to analyst estimates of $301.32 million. Artisan Partners Asset Management had a return on equity of 73.11% and a net margin of 24.08%.The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.83 EPS. On average, equities 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 announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 8.8%. This is a positive change from Artisan Partners Asset Management’s previous quarterly dividend of $0.77. The ex-dividend date was Monday, August 17th. Artisan Partners Asset Management’s payout ratio is currently 77.67%.
Insiders Place Their Bets
In other Artisan Partners Asset Management 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 directly owned 109,194 shares of the company’s stock, valued at approximately $4,650,572.46. This trade represents a 6.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 11.30% of the company’s stock.
Institutional Trading of Artisan Partners Asset Management
Hedge funds have recently made changes to their positions in the company. Engineers Gate Manager LP lifted its position in Artisan Partners Asset Management by 73.2% in the second quarter. Engineers Gate Manager LP now owns 14,200 shares of the asset manager’s stock valued at $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 second 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 in the last quarter. Allworth Financial LP grew its stake 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 acquiring an additional 600 shares during the last quarter. Nykredit A S acquired a new stake in shares of Artisan Partners Asset Management in the second quarter valued at approximately $40,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Artisan Partners Asset Management during the 2nd quarter valued at $996,000. Institutional investors and hedge funds own 86.45% of the company’s stock.
Artisan Partners Asset Management Company Profile
Artisan Partners Asset Management Inc is a global investment management company headquartered in Milwaukee, Wisconsin. Through its subsidiaries and investment teams, the company provides actively managed investment strategies to institutional investors, financial intermediaries and private clients.
The firm offers a range of equity, fixed-income and alternative investment strategies, including U.S. and international equities, emerging-market investments, credit and other specialized portfolios.
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