Citigroup Raises Artisan Partners Asset Management (NYSE:APAM) Price Target to $49.00

Artisan Partners Asset Management (NYSE:APAM) had its price target boosted by Citigroup from $41.00 to $49.00 in a report released on Thursday, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the asset manager’s stock.

A number of other equities analysts have also commented on the stock. Zacks Investment Research raised shares of Artisan Partners Asset Management from a hold rating to a strong-buy rating and set a $35.00 target price on the stock in a research report on Monday, June 29th. TheStreet raised shares of Artisan Partners Asset Management from a c+ rating to a b- rating in a research report on Wednesday, May 20th. Bank of America raised their target price on shares of Artisan Partners Asset Management from $35.00 to $39.00 and gave the stock a buy rating in a research report on Friday, July 10th. Keefe, Bruyette & Woods raised shares of Artisan Partners Asset Management from a market perform rating to an outperform rating and raised their target price for the stock from $25.00 to $34.00 in a research report on Thursday, April 30th. Finally, ValuEngine lowered shares of Artisan Partners Asset Management from a sell rating to a strong sell rating in a research report on Thursday, July 2nd. One analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $39.17.

Artisan Partners Asset Management stock opened at $36.23 on Thursday. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.62 and a quick ratio of 0.62. Artisan Partners Asset Management has a 1-year low of $17.69 and a 1-year high of $38.09. The firm has a market capitalization of $2.85 billion, a P/E ratio of 13.32, a price-to-earnings-growth ratio of 2.14 and a beta of 2.03. The company’s 50-day moving average is $32.66 and its 200 day moving average is $29.38.

Artisan Partners Asset Management (NYSE:APAM) last posted its quarterly earnings data on Tuesday, July 28th. The asset manager reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.10. Artisan Partners Asset Management had a net margin of 20.41% and a return on equity of 178.20%. The company had revenue of $203.00 million for the quarter, compared to analyst estimates of $192.01 million. During the same period in the prior year, the company posted $0.67 EPS. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. Research analysts anticipate that Artisan Partners Asset Management will post 2.99 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be paid a dividend of $0.67 per share. The ex-dividend date is Friday, August 14th. This is an increase from Artisan Partners Asset Management’s previous quarterly dividend of $0.61. This represents a $2.68 dividend on an annualized basis and a dividend yield of 7.40%. Artisan Partners Asset Management’s dividend payout ratio (DPR) is currently 91.39%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. boosted its stake in shares of Artisan Partners Asset Management by 4.0% during the first quarter. Rockefeller Capital Management L.P. now owns 11,357 shares of the asset manager’s stock valued at $244,000 after purchasing an additional 437 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Artisan Partners Asset Management by 43.8% during the fourth quarter. Point72 Asset Management L.P. now owns 2,300 shares of the asset manager’s stock valued at $74,000 after purchasing an additional 700 shares in the last quarter. New York State Teachers Retirement System boosted its stake in shares of Artisan Partners Asset Management by 18.9% during the second quarter. New York State Teachers Retirement System now owns 4,400 shares of the asset manager’s stock valued at $143,000 after purchasing an additional 700 shares in the last quarter. Alberta Investment Management Corp boosted its stake in shares of Artisan Partners Asset Management by 1.7% during the first quarter. Alberta Investment Management Corp now owns 59,400 shares of the asset manager’s stock valued at $1,277,000 after purchasing an additional 1,000 shares in the last quarter. Finally, WBI Investments Inc. boosted its stake in shares of Artisan Partners Asset Management by 9.4% during the first quarter. WBI Investments Inc. now owns 11,765 shares of the asset manager’s stock valued at $253,000 after purchasing an additional 1,013 shares in the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

About Artisan Partners Asset Management

Artisan Partners Asset Management Inc is publicly owned investment manager. It provides its services to pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. funds, as well as mutual funds, non-U.S. funds and collective trusts.

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Analyst Recommendations for Artisan Partners Asset Management (NYSE:APAM)

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