Artisan Partners Asset Management (NYSE:APAM) Price Target Cut to $33.00 by Analysts at TD Cowen

Artisan Partners Asset Management (NYSE:APAM) had its target price reduced by TD Cowen from $37.00 to $33.00 in a report issued on Monday morning,Benzinga reports. They currently have a hold rating on the asset manager’s stock.

APAM has been the subject of a number of other reports. The Goldman Sachs Group lowered their price target on Artisan Partners Asset Management from $35.00 to $31.00 and set a “sell” rating for the company in a report on Friday, October 2nd. Royal Bank Of Canada reduced their price objective on shares of Artisan Partners Asset Management from $45.00 to $43.00 and set an “outperform” rating on the stock in a report on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Artisan Partners Asset Management in a research report on Tuesday, September 29th. Zacks Research raised shares of Artisan Partners Asset Management from a “strong sell” rating to a “hold” rating in a research report on Monday, September 14th. Finally, Evercore set a $34.00 target price on shares of Artisan Partners Asset Management in a research note on Friday. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Artisan Partners Asset Management currently has a consensus rating of “Hold” and a consensus price target of $35.25.

Artisan Partners Asset Management Trading Down 2.8%

Shares of Artisan Partners Asset Management stock opened at $32.51 on Monday. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 7.89 and a beta of 1.70. Artisan Partners Asset Management has a fifty-two week low of $31.78 and a fifty-two week high of $46.53. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a 50 day moving average of $39.31 and a 200 day moving average of $37.86.

Artisan Partners Asset Management (NYSE:APAM) last posted its earnings results on Tuesday, July 28th. The asset manager reported $0.94 earnings per share (EPS) for the quarter, topping 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 company had revenue of $307.91 million during the quarter, compared to analysts’ expectations of $301.32 million. During the same quarter last year, the firm earned $0.83 earnings per share. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, research analysts predict that Artisan Partners Asset Management will post 3.86 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. Investors of record on Monday, August 17th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 9.8%. The ex-dividend date of this dividend was Monday, August 17th. This is an increase from Artisan Partners Asset Management’s previous quarterly dividend of $0.77. Artisan Partners Asset Management’s payout ratio is currently 77.67%.

Insider Transactions at Artisan Partners Asset Management

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 shares were sold at an average price of $42.59, for a total transaction of $298,130.00. Following the sale, the executive vice president directly owned 109,194 shares in the company, valued at $4,650,572.46. This represents a 6.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 11.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Artisan Partners Asset Management

Institutional investors have recently modified their holdings of the business. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Artisan Partners Asset Management by 12.6% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,587,946 shares of the asset manager’s stock valued at $94,175,000 after purchasing an additional 289,105 shares in the last quarter. Wasatch Advisors LP lifted its position in shares of Artisan Partners Asset Management by 8.4% during the 2nd quarter. Wasatch Advisors LP now owns 1,704,243 shares of the asset manager’s stock worth $58,848,000 after purchasing an additional 132,708 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Artisan Partners Asset Management by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,670,380 shares of the asset manager’s stock worth $60,782,000 after purchasing an additional 30,863 shares during the last quarter. Punch & Associates Investment Management Inc. grew its stake in shares of Artisan Partners Asset Management by 25.9% during the first quarter. Punch & Associates Investment Management Inc. now owns 551,336 shares of the asset manager’s stock worth $20,063,000 after purchasing an additional 113,491 shares in the last quarter. Finally, Crawford Investment Counsel Inc. grew its stake in shares of Artisan Partners Asset Management by 2.8% during the fourth quarter. Crawford Investment Counsel Inc. now owns 517,768 shares of the asset manager’s stock worth $21,094,000 after purchasing an additional 14,271 shares in the last quarter. Institutional investors and hedge funds own 86.45% of the company’s stock.

Artisan Partners Asset Management Company Profile

Artisan Partners Asset Management, Inc (NYSE: APAM) is a global investment management firm that provides active investment strategies to institutional investors, financial intermediaries and private clients. The company operates through affiliated investment teams with distinct approaches, investment philosophies and areas of expertise.

Artisan Partners offers a range of equity, fixed-income and alternative investment strategies. Its products and services include separately managed accounts, mutual funds, collective investment trusts and other investment vehicles designed for institutions, wealth managers and individual investors.