Artisan Partners Asset Management (NYSE:APAM) Stock Rating Upgraded by Zacks Research

Artisan Partners Asset Management (NYSE:APAM) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

APAM has been the subject of several other research reports. Wall Street Zen cut Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. TD Cowen reiterated a “hold” rating on shares of Artisan Partners Asset Management in a research report on Thursday, April 9th. Evercore set a $37.00 price target on shares of Artisan Partners Asset Management in a report on Friday, April 10th. The Goldman Sachs Group reduced their price objective on shares of Artisan Partners Asset Management from $39.00 to $34.00 and set a “sell” rating for the company in a research report on Tuesday, April 7th. Finally, Royal Bank Of Canada lowered their price objective on shares of Artisan Partners Asset Management from $48.00 to $43.00 and set an “outperform” rating on the stock in a research note on Thursday, April 30th. One 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $39.25.

Artisan Partners Asset Management Price Performance

Shares of NYSE:APAM opened at $37.09 on Wednesday. Artisan Partners Asset Management has a 12 month low of $34.99 and a 12 month high of $48.50. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of 9.39 and a beta of 1.68. The stock’s 50 day moving average price is $36.79 and its 200 day moving average price is $40.39. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.82 and a quick ratio of 0.82.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings results on Tuesday, April 28th. The asset manager reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.04). Artisan Partners Asset Management had a net margin of 23.49% and a return on equity of 72.99%. The firm had revenue of $303.01 million for the quarter, compared to the consensus estimate of $304.01 million. During the same period in the previous year, the business posted $0.83 earnings per share. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities research analysts anticipate that Artisan Partners Asset Management will post 3.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of APAM. Federated Hermes Inc. raised its position in Artisan Partners Asset Management by 132.1% during the third quarter. Federated Hermes Inc. now owns 469,370 shares of the asset manager’s stock valued at $20,371,000 after acquiring an additional 267,136 shares in the last quarter. Principal Financial Group Inc. grew its position in Artisan Partners Asset Management by 18.5% in the third quarter. Principal Financial Group Inc. now owns 413,389 shares of the asset manager’s stock worth $17,941,000 after acquiring an additional 64,625 shares in the last quarter. Jackson Creek Investment Advisors LLC acquired a new position in shares of Artisan Partners Asset Management during the 3rd quarter worth $1,613,000. Ruffer LLP acquired a new position in shares of Artisan Partners Asset Management during the 3rd quarter worth $3,041,000. Finally, AlphaQuest LLC raised its holdings in shares of Artisan Partners Asset Management by 795.3% during the 3rd quarter. AlphaQuest LLC now owns 100,914 shares of the asset manager’s stock valued at $4,380,000 after purchasing an additional 89,642 shares in the last quarter. 86.45% of the stock is owned by institutional investors and hedge funds.

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.