Artisan Partners Asset Management (NYSE:APAM) Upgraded at StockNews.com

StockNews.com upgraded shares of Artisan Partners Asset Management (NYSE:APAM) from a hold rating to a buy rating in a report issued on Tuesday.

A number of other research firms also recently weighed in on APAM. TD Cowen raised their price target on Artisan Partners Asset Management from $41.00 to $43.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $50.00 price target on shares of Artisan Partners Asset Management in a research report on Monday, July 29th. Finally, The Goldman Sachs Group lowered their price objective on shares of Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating for the company in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $44.13.

Artisan Partners Asset Management Price Performance

Shares of NYSE APAM opened at $48.17 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.71 and a current ratio of 0.73. Artisan Partners Asset Management has a fifty-two week low of $34.94 and a fifty-two week high of $49.30. The stock has a market cap of $3.87 billion, a PE ratio of 13.42 and a beta of 1.79. The stock has a fifty day moving average of $43.08 and a 200-day moving average of $42.39.

Artisan Partners Asset Management (NYSE:APAM) last posted its earnings results on Tuesday, October 29th. The asset manager reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $279.60 million for the quarter, compared to analyst estimates of $279.70 million. Artisan Partners Asset Management had a net margin of 23.95% and a return on equity of 71.50%. Artisan Partners Asset Management’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 EPS. Equities research analysts anticipate that Artisan Partners Asset Management will post 3.49 earnings per share for the current year.

Artisan Partners Asset Management Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.82 dividend. The ex-dividend date is Friday, November 15th. This represents a $3.28 annualized dividend and a dividend yield of 6.81%. Artisan Partners Asset Management’s dividend payout ratio is 79.11%.

Hedge Funds Weigh In On Artisan Partners Asset Management

A number of institutional investors have recently bought and sold shares of the stock. Matrix Trust Co purchased a new position in shares of Artisan Partners Asset Management during the 3rd quarter worth approximately $30,000. GAMMA Investing LLC raised its holdings in Artisan Partners Asset Management by 81.5% in the second quarter. GAMMA Investing LLC now owns 775 shares of the asset manager’s stock worth $32,000 after purchasing an additional 348 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in shares of Artisan Partners Asset Management by 41.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,004 shares of the asset manager’s stock worth $43,000 after acquiring an additional 296 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Artisan Partners Asset Management by 735.9% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,212 shares of the asset manager’s stock worth $52,000 after acquiring an additional 1,067 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of Artisan Partners Asset Management in the 2nd quarter worth approximately $63,000. 86.45% of the stock is owned by institutional investors.

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.