Artisan Partners Asset Management (NYSE:APAM) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Artisan Partners Asset Management (NYSE:APAM) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday morning,Zacks reports.

Other research analysts have also issued research reports about the stock. TD Cowen cut their price target on shares of Artisan Partners Asset Management from $37.00 to $33.00 and set a “hold” rating on the stock in a research note on Monday, October 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Artisan Partners Asset Management in a research report on Tuesday, September 29th. Royal Bank Of Canada dropped their price objective on shares of Artisan Partners Asset Management from $43.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, October 30th. Evercore set a $33.00 price objective on shares of Artisan Partners Asset Management in a report on Thursday, October 29th. Finally, The Goldman Sachs Group cut their price objective on shares of 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 given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $34.75.

Artisan Partners Asset Management Trading Down 1.0%

NYSE APAM opened at $38.11 on Wednesday. The firm has a market cap of $3.09 billion, a P/E ratio of 9.01 and a beta of 1.74. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.96 and a quick ratio of 0.96. The stock’s 50-day moving average is $36.17 and its 200-day moving average is $38.15. Artisan Partners Asset Management has a one year low of $30.86 and a one year high of $46.53.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings data on Tuesday, October 27th. The asset manager reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.07. Artisan Partners Asset Management had a return on equity of 71.69% and a net margin of 24.54%. The business had revenue of $312.52 million during the quarter, compared to analyst estimates of $307.60 million. During the same period in the previous year, the firm earned $1.02 EPS. Artisan Partners Asset Management’s quarterly revenue was up 3.7% compared to the same quarter last year. Sell-side analysts anticipate that Artisan Partners Asset Management will post 3.94 earnings per share for the current fiscal year.

Artisan Partners Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 16th will be given a $0.88 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $3.52 dividend on an annualized basis and a yield of 9.2%. This is a boost from Artisan Partners Asset Management’s previous quarterly dividend of $0.80. Artisan Partners Asset Management’s payout ratio is 75.65%.

Insider Buying and Selling

In other Artisan Partners Asset Management 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 value of $298,130.00. Following the sale, the executive vice president owned 109,194 shares in the company, valued at approximately $4,650,572.46. The trade was a 6.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 11.30% of the company’s stock.

Institutional Investors Weigh In On Artisan Partners Asset Management

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. acquired a new position in shares of Artisan Partners Asset Management during the 3rd quarter worth about $9,151,000. Edgestream Partners L.P. bought a new position in Artisan Partners Asset Management in the third quarter valued at approximately $213,000. Intech Investment Management LLC grew its stake in Artisan Partners Asset Management by 14.1% in the third quarter. Intech Investment Management LLC now owns 15,659 shares of the asset manager’s stock valued at $566,000 after purchasing an additional 1,941 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Artisan Partners Asset Management by 4.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 40,553 shares of the asset manager’s stock worth $1,466,000 after purchasing an additional 1,650 shares in the last quarter. Finally, Maryland State Retirement & Pension System grew its stake in shares of Artisan Partners Asset Management by 54.0% in the third quarter. Maryland State Retirement & Pension System now owns 16,008 shares of the asset manager’s stock valued at $578,000 after buying an additional 5,611 shares in the last quarter. 86.45% of the stock is currently owned by institutional investors and hedge funds.

Artisan Partners Asset Management Company Profile

Artisan Partners Asset Management is a global investment management firm that provides active investment strategies to institutional and individual investors. The firm manages portfolios through specialized investment teams, each with its own investment approach and research process. Its offerings include equity and fixed-income strategies spanning a range of styles, market sectors and geographies. These strategies are available through vehicles such as mutual funds and separate accounts, serving clients including institutions and financial intermediaries.