Artisan Partners Asset Management (NYSE:APAM) Price Target Cut to $43.00 by Analysts at TD Cowen

Artisan Partners Asset Management (NYSE:APAM) had its price objective lowered by TD Cowen from $47.00 to $43.00 in a research note released on Monday,Benzinga reports. The firm currently has a hold rating on the asset manager’s stock.

Several other analysts have also weighed in on APAM. Royal Bank Of Canada raised their price objective on Artisan Partners Asset Management from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Zacks Research lowered Artisan Partners Asset Management from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Wall Street Zen raised Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research note on Tuesday, May 20th. Finally, Evercore ISI raised their price objective on Artisan Partners Asset Management from $43.00 to $45.00 and gave the company an “in-line” rating in a research note on Friday, September 5th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Artisan Partners Asset Management has a consensus rating of “Hold” and a consensus price target of $43.50.

Artisan Partners Asset Management Stock Performance

Shares of NYSE APAM opened at $45.14 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.97 and a quick ratio of 0.97. The stock’s fifty day moving average price is $46.41 and its two-hundred day moving average price is $42.45. Artisan Partners Asset Management has a one year low of $32.75 and a one year high of $49.54. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 12.01 and a beta of 1.71.

Artisan Partners Asset Management (NYSE:APAM) last released its earnings results on Tuesday, July 29th. The asset manager reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.01. The company had revenue of $282.80 million for the quarter, compared to analyst estimates of $269.00 million. Artisan Partners Asset Management had a return on equity of 71.72% and a net margin of 23.87%.Artisan Partners Asset Management’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.82 EPS. On average, equities analysts forecast that Artisan Partners Asset Management will post 3.6 EPS for the current year.

Artisan Partners Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a dividend of $0.73 per share. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from Artisan Partners Asset Management’s previous quarterly dividend of $0.68. This represents a $2.92 annualized dividend and a dividend yield of 6.5%. Artisan Partners Asset Management’s payout ratio is presently 77.66%.

Institutional Trading of Artisan Partners Asset Management

A number of hedge funds have recently bought and sold shares of the business. SVB Wealth LLC bought a new stake in shares of Artisan Partners Asset Management in the first quarter valued at $33,000. Atlantic Union Bankshares Corp bought a new stake in shares of Artisan Partners Asset Management in the second quarter valued at $57,000. Farther Finance Advisors LLC raised its stake in shares of Artisan Partners Asset Management by 24.1% in the second quarter. Farther Finance Advisors LLC now owns 1,282 shares of the asset manager’s stock valued at $57,000 after buying an additional 249 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Artisan Partners Asset Management by 31.4% in the second quarter. Smartleaf Asset Management LLC now owns 1,465 shares of the asset manager’s stock valued at $65,000 after buying an additional 350 shares during the period. Finally, Continuum Advisory LLC bought a new stake in shares of Artisan Partners Asset Management in the first quarter valued at $63,000. 86.45% of the stock is currently 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.