Artisan Partners Asset Management (NYSE:APAM – Get Rating) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Monday, Zacks.com reports. The firm presently has a $36.00 price target on the asset manager’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 5.48% from the company’s previous close.
According to Zacks, “Shares of Artisan Partners have underperformed the industry in the past year. Nonetheless, the company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the trailing four quarters. Lower assets under management (AUM) due to the market declines and an increase in expenses ailed the first-quarter 2022 results. Nonetheless, diverse investment strategies across multiple asset classes are expected to aid its financials. A decent liquidity position and any improvement in the economic background balance are tailwinds. Yet, higher investments in technology to support growth prospects will inflate costs and limit bottom-line advancement. Given a high debt-to-equity ratio, its capital deployment plans seem unsustainable. A volatile trend in net outflows over the past years keeps us apprehensive.”
APAM has been the topic of a number of other reports. Citigroup lowered their price objective on shares of Artisan Partners Asset Management from $41.50 to $36.50 and set a “neutral” rating on the stock in a research report on Tuesday, April 12th. StockNews.com downgraded shares of Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a research note on Friday. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $47.36.
Artisan Partners Asset Management (NYSE:APAM – Get Rating) last announced its earnings results on Tuesday, April 26th. The asset manager reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.05). The company had revenue of $281.60 million for the quarter, compared to analysts’ expectations of $294.03 million. Artisan Partners Asset Management had a return on equity of 146.56% and a net margin of 26.65%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the business earned $1.13 EPS. As a group, equities research analysts anticipate that Artisan Partners Asset Management will post 3.85 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of APAM. FMR LLC raised its stake in shares of Artisan Partners Asset Management by 3,865,000.0% during the 1st quarter. FMR LLC now owns 38,651 shares of the asset manager’s stock worth $973,000 after purchasing an additional 38,650 shares in the last quarter. Morgan Stanley raised its stake in shares of Artisan Partners Asset Management by 32.6% during the 2nd quarter. Morgan Stanley now owns 192,748 shares of the asset manager’s stock worth $9,795,000 after purchasing an additional 47,442 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Artisan Partners Asset Management by 557.0% during the 3rd quarter. SG Americas Securities LLC now owns 18,454 shares of the asset manager’s stock worth $903,000 after purchasing an additional 15,645 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Artisan Partners Asset Management by 38.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 16,776 shares of the asset manager’s stock worth $821,000 after purchasing an additional 4,654 shares in the last quarter. Finally, Advisor Group Holdings Inc. raised its stake in shares of Artisan Partners Asset Management by 7.2% during the 3rd quarter. Advisor Group Holdings Inc. now owns 44,720 shares of the asset manager’s stock worth $2,190,000 after purchasing an additional 2,999 shares in the last quarter. 66.91% of the stock is owned by institutional investors.
About Artisan Partners Asset Management (Get Rating)
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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