Artisan Partners Asset Management (NYSE:APAM) Rating Increased to Buy at StockNews.com

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a report issued on Tuesday.

Separately, Royal Bank of Canada decreased their target price on Artisan Partners Asset Management from $53.00 to $51.00 and set an "outperform" rating on the stock in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Artisan Partners Asset Management currently has a consensus rating of "Hold" and a consensus target price of $44.38.

Artisan Partners Asset Management Price Performance

Shares of NYSE:APAM traded down $0.18 on Tuesday, reaching $40.24. 368,501 shares of the company were exchanged, compared to its average volume of 415,853. The company has a current ratio of 0.56, a quick ratio of 0.73 and a debt-to-equity ratio of 0.47. Artisan Partners Asset Management has a 1-year low of $37.89 and a 1-year high of $49.54. The company has a 50-day moving average of $42.72 and a 200-day moving average of $43.90. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 11.06 and a beta of 1.83.

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Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last issued its earnings results on Tuesday, February 4th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.08. Artisan Partners Asset Management had a net margin of 23.36% and a return on equity of 74.02%. Equities analysts forecast that Artisan Partners Asset Management will post 3.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Artisan Partners Asset Management

Several hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new stake in Artisan Partners Asset Management during the 4th quarter worth about $20,607,000. Wasatch Advisors LP grew its holdings in shares of Artisan Partners Asset Management by 25.3% during the third quarter. Wasatch Advisors LP now owns 1,812,080 shares of the asset manager's stock worth $78,499,000 after buying an additional 365,434 shares in the last quarter. Channing Capital Management LLC raised its position in shares of 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 valued at $76,221,000 after buying an additional 224,455 shares during the last quarter. Millennium Management LLC lifted its stake in shares of 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 during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Artisan Partners Asset Management by 6.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,643,915 shares of the asset manager's stock worth $114,534,000 after acquiring an additional 154,536 shares during the last quarter. Hedge funds and other institutional investors own 86.45% of the company's stock.

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.