Artisan Partners Asset Management Inc. (NYSE:APAM) Receives Average Rating of "Hold" from Brokerages

Shares of Artisan Partners Asset Management Inc. (NYSE:APAM - Get Free Report) have been assigned an average recommendation of "Hold" from the four research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $44.13.

APAM has been the subject of several recent research reports. TD Cowen boosted their target price on shares of Artisan Partners Asset Management from $41.00 to $43.00 and gave the stock a "hold" rating in a research report on Thursday, October 31st. Royal Bank of Canada reissued an "outperform" rating and set a $50.00 target price on shares of Artisan Partners Asset Management in a research report on Monday, July 29th. StockNews.com raised shares of Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a research report on Tuesday. Evercore ISI boosted their target price on shares of Artisan Partners Asset Management from $40.00 to $44.00 and gave the stock an "in-line" rating in a research report on Thursday. Finally, The Goldman Sachs Group reduced their price objective on shares of Artisan Partners Asset Management from $40.00 to $39.50 and set a "sell" rating for the company in a research report on Thursday, October 3rd.

Artisan Partners Asset Management Stock Down 1.7 %

NYSE:APAM traded down $0.83 during trading hours on Thursday, reaching $48.16. The company had a trading volume of 498,585 shares, compared to its average volume of 448,983. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.49. The firm has a market cap of $3.87 billion, a price-to-earnings ratio of 13.65 and a beta of 1.79. The business's 50-day simple moving average is $42.94 and its two-hundred day simple moving average is $42.35. Artisan Partners Asset Management has a twelve month low of $34.94 and a twelve month high of $49.30.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The asset manager reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. The business had revenue of $279.60 million during the quarter, compared to analysts' expectations of $279.70 million. Artisan Partners Asset Management had a net margin of 23.95% and a return on equity of 71.51%. The business's quarterly revenue was up 12.4% on a year-over-year basis. During the same period last year, the company posted $0.75 earnings per share. On average, equities analysts expect that Artisan Partners Asset Management will post 3.49 earnings per share for the current year.

Artisan Partners Asset Management Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 6.81%. The ex-dividend date is Friday, November 15th. Artisan Partners Asset Management's payout ratio is 79.11%.

Institutional Trading of Artisan Partners Asset Management

A number of institutional investors have recently modified their holdings of the business. Millennium Management LLC bought a new stake in Artisan Partners Asset Management during the 2nd quarter worth approximately $10,685,000. Jupiter Asset Management Ltd. bought a new stake in Artisan Partners Asset Management during the 1st quarter worth approximately $9,907,000. Victory Capital Management Inc. increased its holdings in Artisan Partners Asset Management by 22.0% during the 3rd quarter. Victory Capital Management Inc. now owns 1,122,086 shares of the asset manager's stock worth $48,609,000 after acquiring an additional 202,074 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Artisan Partners Asset Management by 2.5% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,626,937 shares of the asset manager's stock worth $273,494,000 after acquiring an additional 160,297 shares during the period. Finally, Edgestream Partners L.P. bought a new stake in Artisan Partners Asset Management during the 1st quarter worth approximately $7,287,000. 86.45% of the stock is currently owned by hedge funds and other institutional investors.

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.