BidaskClub cut shares of Artisan Partners Asset Management Inc. (NYSE:APAM) from a buy rating to a hold rating in a research report released on Tuesday morning.
Several other equities analysts have also recently commented on APAM. TheStreet upgraded shares of Artisan Partners Asset Management from a c+ rating to a b- rating in a research report on Monday, July 17th. Keefe, Bruyette & Woods restated a buy rating and issued a $32.00 target price on shares of Artisan Partners Asset Management in a research report on Friday, July 14th. Jefferies Group LLC restated a hold rating and issued a $32.00 target price on shares of Artisan Partners Asset Management in a research report on Friday, July 14th. ValuEngine upgraded shares of Artisan Partners Asset Management from a hold rating to a buy rating in a research report on Thursday, July 6th. Finally, Royal Bank Of Canada assumed coverage on shares of Artisan Partners Asset Management in a research report on Thursday, June 29th. They issued an outperform rating and a $34.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $29.94.
Shares of Artisan Partners Asset Management (APAM) opened at 30.90 on Tuesday. The firm’s 50-day moving average is $31.20 and its 200 day moving average is $29.18. The company has a market capitalization of $1.54 billion, a PE ratio of 17.63 and a beta of 1.75. Artisan Partners Asset Management has a 52 week low of $24.48 and a 52 week high of $33.85.
Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings data on Monday, July 31st. The asset manager reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.59 by $0.01. Artisan Partners Asset Management had a return on equity of 78.75% and a net margin of 11.37%. The business had revenue of $196.20 million during the quarter, compared to analyst estimates of $194.25 million. During the same quarter last year, the firm earned $0.53 EPS. Artisan Partners Asset Management’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, analysts anticipate that Artisan Partners Asset Management will post $2.34 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Thursday, August 17th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 7.77%. The ex-dividend date is Tuesday, August 15th. Artisan Partners Asset Management’s dividend payout ratio is 145.46%.
A number of institutional investors have recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC boosted its position in Artisan Partners Asset Management by 6.8% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,511,957 shares of the asset manager’s stock worth $124,530,000 after buying an additional 287,052 shares in the last quarter. Vanguard Group Inc. boosted its position in Artisan Partners Asset Management by 21.7% in the first quarter. Vanguard Group Inc. now owns 3,767,507 shares of the asset manager’s stock worth $103,983,000 after buying an additional 671,858 shares in the last quarter. Wells Fargo & Company MN boosted its position in Artisan Partners Asset Management by 7.5% in the first quarter. Wells Fargo & Company MN now owns 2,075,106 shares of the asset manager’s stock worth $57,272,000 after buying an additional 144,029 shares in the last quarter. Neuberger Berman Group LLC boosted its position in Artisan Partners Asset Management by 18.7% in the first quarter. Neuberger Berman Group LLC now owns 2,068,589 shares of the asset manager’s stock worth $57,093,000 after buying an additional 325,530 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in Artisan Partners Asset Management by 0.9% in the first quarter. Fisher Asset Management LLC now owns 1,836,637 shares of the asset manager’s stock worth $50,691,000 after buying an additional 16,309 shares in the last quarter. Institutional investors and hedge funds own 97.15% of the company’s stock.
About Artisan Partners Asset Management
Artisan Partners Asset Management Inc is an investment management company. The Company provides a range of the United States, non-United States and global investment strategies, each of which is managed by one of its investment teams. The Company provides investment management services to separate accounts, mutual funds and other pooled investment vehicles.
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