Artisan Partners Asset Management Inc. (NYSE:APAM) Receives $39.30 Average Price Target from Brokerages

Shares of Artisan Partners Asset Management Inc. (NYSE:APAM) have been assigned a consensus recommendation of “Hold” from the five brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $39.30.

APAM has been the topic of several analyst reports. Evercore ISI dropped their price target on shares of Artisan Partners Asset Management from $33.00 to $32.00 and set an “in-line” rating on the stock in a research note on Thursday. StockNews.com downgraded Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a report on Tuesday, April 8th. TD Securities lifted their price objective on Artisan Partners Asset Management from $35.00 to $39.00 and gave the stock a “hold” rating in a report on Thursday. TD Cowen decreased their price target on shares of Artisan Partners Asset Management from $46.00 to $35.00 and set a “hold” rating for the company in a research report on Wednesday, April 9th. Finally, Royal Bank of Canada cut their price target on shares of Artisan Partners Asset Management from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd.

Artisan Partners Asset Management Stock Performance

NYSE:APAM opened at $39.80 on Thursday. Artisan Partners Asset Management has a fifty-two week low of $32.75 and a fifty-two week high of $49.54. The firm’s 50 day moving average is $38.50 and its two-hundred day moving average is $42.77. The company has a market cap of $3.20 billion, a P/E ratio of 10.93 and a beta of 1.80. The company has a quick ratio of 0.73, a current ratio of 0.56 and a debt-to-equity ratio of 0.47.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings data on Tuesday, April 29th. The asset manager reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. Artisan Partners Asset Management had a return on equity of 74.02% and a net margin of 23.36%. The company had revenue of $277.10 million for the quarter, compared to the consensus estimate of $281.15 million. During the same period last year, the business posted $0.76 EPS. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. Analysts expect that Artisan Partners Asset Management will post 3.6 EPS for the current year.

Artisan Partners Asset Management Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a dividend of $0.68 per share. The ex-dividend date is Friday, May 16th. This represents a $2.72 annualized dividend and a yield of 6.83%. Artisan Partners Asset Management’s dividend payout ratio is currently 92.82%.

Institutional Trading of Artisan Partners Asset Management

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in Artisan Partners Asset Management during the 4th quarter worth about $20,607,000. Vaughan Nelson Investment Management L.P. grew its stake in shares of Artisan Partners Asset Management by 24.0% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,970,796 shares of the asset manager’s stock valued at $77,057,000 after buying an additional 381,210 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in Artisan Partners Asset Management by 67,047.1% in the first quarter. Harbor Capital Advisors Inc. now owns 253,816 shares of the asset manager’s stock valued at $9,924,000 after acquiring an additional 253,438 shares during the last quarter. Channing Capital Management LLC boosted its holdings in Artisan Partners Asset Management by 14.5% in the fourth quarter. Channing Capital Management LLC now owns 1,770,526 shares of the asset manager’s stock worth $76,221,000 after purchasing an additional 224,455 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Artisan Partners Asset Management by 98.2% during the fourth quarter. Millennium Management LLC now owns 439,057 shares of the asset manager’s stock valued at $18,901,000 after buying an additional 217,552 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 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.