Royal Bank Of Canada Cuts Artisan Partners Asset Management (NYSE:APAM) Price Target to $50.00

Artisan Partners Asset Management (NYSE:APAM) had its target price decreased by Royal Bank Of Canada from $51.00 to $50.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the asset manager’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 10.99% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Artisan Partners Asset Management in a report on Monday, December 29th. Zacks Research lowered shares of Artisan Partners Asset Management from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Evercore ISI lifted their price target on shares of Artisan Partners Asset Management from $43.00 to $44.00 and gave the company an “in-line” rating in a research report on Thursday, October 30th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Artisan Partners Asset Management in a research note on Wednesday, December 10th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Artisan Partners Asset Management has an average rating of “Hold” and an average target price of $44.00.

Artisan Partners Asset Management Stock Performance

NYSE APAM traded up $0.74 on Friday, hitting $45.05. 190,653 shares of the company’s stock were exchanged, compared to its average volume of 520,039. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.76 and a quick ratio of 1.02. The firm’s 50-day moving average price is $42.64 and its two-hundred day moving average price is $44.01. Artisan Partners Asset Management has a fifty-two week low of $32.75 and a fifty-two week high of $48.50. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 11.22 and a beta of 1.76.

Artisan Partners Asset Management (NYSE:APAM) last posted its quarterly earnings results on Tuesday, February 3rd. The asset manager reported $1.26 EPS for the quarter, beating the consensus estimate of $1.11 by $0.15. Artisan Partners Asset Management had a return on equity of 73.74% and a net margin of 24.26%.The business had revenue of $335.50 million during the quarter, compared to analysts’ expectations of $322.13 million. During the same period last year, the firm earned $1.05 EPS. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, research analysts expect that Artisan Partners Asset Management will post 3.6 EPS for the current year.

Institutional Investors Weigh In On Artisan Partners Asset Management

A number of hedge funds and other institutional investors have recently made changes to their positions in APAM. Royal Bank of Canada grew its holdings in shares of Artisan Partners Asset Management by 24.9% during the 1st quarter. Royal Bank of Canada now owns 138,628 shares of the asset manager’s stock worth $5,421,000 after purchasing an additional 27,676 shares during the period. AQR Capital Management LLC grew its stake in Artisan Partners Asset Management by 6.4% during the first quarter. AQR Capital Management LLC now owns 69,357 shares of the asset manager’s stock worth $2,712,000 after buying an additional 4,177 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Artisan Partners Asset Management by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,479 shares of the asset manager’s stock valued at $1,465,000 after acquiring an additional 1,626 shares during the period. Intech Investment Management LLC lifted its holdings in shares of Artisan Partners Asset Management by 46.8% during the 1st quarter. Intech Investment Management LLC now owns 30,184 shares of the asset manager’s stock valued at $1,180,000 after acquiring an additional 9,629 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Artisan Partners Asset Management during the 2nd quarter worth $205,000. Hedge funds and other institutional investors own 86.45% of the company’s stock.

About Artisan Partners Asset Management

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.