Evercore ISI Issues Positive Forecast for Artisan Partners Asset Management (NYSE:APAM) Stock Price

Artisan Partners Asset Management (NYSE:APAM - Free Report) had its target price increased by Evercore ISI from $40.00 to $44.00 in a research note published on Thursday,Benzinga reports. Evercore ISI currently has an in-line rating on the asset manager's stock.

APAM has been the topic of a number of other reports. StockNews.com upgraded Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a research note on Tuesday. Royal Bank of Canada reiterated an "outperform" rating and issued a $50.00 target price on shares of Artisan Partners Asset Management in a research note on Monday, July 29th. TD Cowen raised their target price on Artisan Partners Asset Management from $41.00 to $43.00 and gave the company a "hold" rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group cut their target price on Artisan Partners Asset Management from $40.00 to $39.50 and set a "sell" rating on the stock in a research note on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $44.13.

Artisan Partners Asset Management Stock Performance

APAM traded down $0.83 during trading hours on Thursday, hitting $48.16. 498,579 shares of the stock were exchanged, compared to its average volume of 448,983. The stock has a 50-day simple moving average of $42.94 and a 200-day simple moving average of $42.35. Artisan Partners Asset Management has a 12 month low of $34.94 and a 12 month high of $49.30. The stock has a market cap of $3.87 billion, a price-to-earnings ratio of 13.65 and a beta of 1.79. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.68 and a quick ratio of 0.71.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last posted its earnings results on Tuesday, October 29th. The asset manager reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.02. The company had revenue of $279.60 million for the quarter, compared to analysts' expectations of $279.70 million. Artisan Partners Asset Management had a return on equity of 71.51% and a net margin of 23.95%. The firm's quarterly revenue was up 12.4% compared to the same quarter last year. During the same period last year, the business posted $0.75 earnings per share. Analysts anticipate 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 declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.82 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 6.81%. Artisan Partners Asset Management's dividend payout ratio (DPR) is 79.11%.

Hedge Funds Weigh In On Artisan Partners Asset Management

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