Evercore ISI Cuts Artisan Partners Asset Management (NYSE:APAM) Price Target to $43.00

Artisan Partners Asset Management (NYSE:APAM) had its target price trimmed by Evercore ISI from $45.00 to $43.00 in a report released on Thursday morning,Benzinga reports. The firm currently has an in-line rating on the asset manager’s stock.

A number of other equities research analysts have also commented on the company. Zacks Research lowered Artisan Partners Asset Management from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Royal Bank Of Canada upped their target price on Artisan Partners Asset Management from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. TD Cowen dropped their target price on Artisan Partners Asset Management from $47.00 to $43.00 and set a “hold” rating on the stock in a research report on Monday, September 15th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Artisan Partners Asset Management in a research report on Saturday, September 27th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $44.00.

Artisan Partners Asset Management Stock Performance

APAM opened at $42.34 on Thursday. Artisan Partners Asset Management has a 52-week low of $32.75 and a 52-week high of $49.54. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.48. The company has a market cap of $3.42 billion, a P/E ratio of 11.26 and a beta of 1.72. The firm’s 50-day moving average price is $45.57 and its 200-day moving average price is $42.87.

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

Artisan Partners Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $0.73 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.92 annualized dividend and a yield of 6.9%. This is a boost from Artisan Partners Asset Management’s previous quarterly dividend of $0.68. Artisan Partners Asset Management’s payout ratio is currently 77.66%.

Institutional Investors Weigh In On Artisan Partners Asset Management

Hedge funds have recently bought and sold shares of the stock. SVB Wealth LLC purchased a new stake in Artisan Partners Asset Management in the 1st quarter worth approximately $33,000. Carolina Wealth Advisors LLC purchased a new stake in Artisan Partners Asset Management in the 3rd quarter worth approximately $55,000. Farther Finance Advisors LLC boosted its position in Artisan Partners Asset Management by 24.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,282 shares of the asset manager’s stock worth $57,000 after purchasing an additional 249 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Artisan Partners Asset Management in the 2nd quarter worth approximately $57,000. Finally, Continuum Advisory LLC purchased a new stake in Artisan Partners Asset Management in the 1st quarter worth approximately $63,000. Hedge funds and other institutional investors own 86.45% of the company’s stock.

Artisan Partners Asset Management Company Profile

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.