Artisan Partners Asset Management Inc. (APAM) Upgraded by Zacks Investment Research to “Hold”
Zacks Investment Research upgraded shares of Artisan Partners Asset Management Inc. (NYSE:APAM) from a strong sell rating to a hold rating in a research report report published on Wednesday.
According to Zacks, “Artisan Partners Asset Management Inc. is an independent investment management firm that provides a broad range of U.S., non-U.S. and global equity investment strategies. The Company’s manages investments primarily through mutual funds and separate accounts. Its clients include pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. pooled investment vehicles. Artisan Partners Asset Management Inc. is based in Milwaukee, WI United States. “
A number of other research analysts have also recently issued reports on APAM. BidaskClub raised Artisan Partners Asset Management from a buy rating to a strong-buy rating in a report on Thursday, September 28th. Jefferies Group LLC reaffirmed a hold rating and issued a $32.00 price target on shares of Artisan Partners Asset Management in a report on Tuesday, September 26th. Sidoti raised Artisan Partners Asset Management from a neutral rating to a buy rating in a report on Friday, August 4th. They noted that the move was a valuation call. Royal Bank Of Canada set a $36.00 price target on Artisan Partners Asset Management and gave the company a buy rating in a report on Tuesday, August 1st. Finally, Keefe, Bruyette & Woods cut Artisan Partners Asset Management from an outperform rating to a market perform rating and lifted their price target for the company from $32.00 to $33.00 in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of Hold and a consensus target price of $29.50.
Shares of Artisan Partners Asset Management (NYSE:APAM) traded up 0.972% during trading on Wednesday, reaching $33.775. 212,324 shares of the company were exchanged. The stock has a 50-day moving average of $30.77 and a 200 day moving average of $29.79. The stock has a market capitalization of $1.68 billion, a P/E ratio of 19.926 and a beta of 1.77. Artisan Partners Asset Management has a 52-week low of $24.48 and a 52-week high of $33.95.
Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings results on Monday, July 31st. The asset manager reported $0.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.01). Artisan Partners Asset Management had a net margin of 11.37% and a return on equity of 78.75%. The business had revenue of $196.20 million during the quarter, compared to the consensus estimate of $194.25 million. During the same period in the prior year, the firm earned $0.53 earnings per share. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, equities analysts anticipate that Artisan Partners Asset Management will post $2.34 earnings per share for the current fiscal year.
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Large investors have recently made changes to their positions in the business. Quantbot Technologies LP raised its holdings in Artisan Partners Asset Management by 3.5% during the 2nd quarter. Quantbot Technologies LP now owns 3,591 shares of the asset manager’s stock worth $110,000 after purchasing an additional 120 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in Artisan Partners Asset Management during the 2nd quarter worth about $120,000. Segantii Capital Management Ltd bought a new stake in Artisan Partners Asset Management during the 1st quarter worth about $135,000. Tower Research Capital LLC TRC bought a new stake in Artisan Partners Asset Management during the 1st quarter worth about $151,000. Finally, Utah Retirement Systems raised its holdings in Artisan Partners Asset Management by 10.4% during the 1st quarter. Utah Retirement Systems now owns 7,400 shares of the asset manager’s stock worth $205,000 after purchasing an additional 700 shares during the last quarter. 65.63% of the stock is owned by hedge funds and other institutional investors.
Artisan Partners Asset Management Company Profile
Artisan Partners Asset Management Inc is an investment management company. The Company provides a range of the United States, non-United States and global investment strategies, each of which is managed by one of its investment teams. The Company provides investment management services to separate accounts, mutual funds and other pooled investment vehicles.
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