Evercore ISI Has Lowered Expectations for Artisan Partners Asset Management (NYSE:APAM) Stock Price

Artisan Partners Asset Management (NYSE:APAM - Free Report) had its target price reduced by Evercore ISI from $40.00 to $33.00 in a report released on Friday morning,Benzinga reports. They currently have an in-line rating on the asset manager's stock.

Several other research analysts have also recently weighed in on APAM. StockNews.com cut shares of Artisan Partners Asset Management from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Royal Bank of Canada dropped their target price on Artisan Partners Asset Management from $53.00 to $51.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Finally, TD Cowen cut their price target on Artisan Partners Asset Management from $46.00 to $35.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $39.63.

Artisan Partners Asset Management Price Performance

Shares of NYSE:APAM traded down $0.67 during midday trading on Friday, reaching $34.81. The company's stock had a trading volume of 225,933 shares, compared to its average volume of 460,011. The business's fifty day simple moving average is $40.39 and its 200-day simple moving average is $43.36. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.56 and a quick ratio of 0.73. Artisan Partners Asset Management has a fifty-two week low of $32.75 and a fifty-two week high of $49.54. The company has a market capitalization of $2.79 billion, a P/E ratio of 9.56 and a beta of 1.80.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The asset manager reported $1.05 EPS for the quarter, topping 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%. As a group, equities research analysts expect that Artisan Partners Asset Management will post 3.6 EPS for the current fiscal year.

Artisan Partners Asset Management Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.75%. The ex-dividend date was Friday, February 14th. Artisan Partners Asset Management's dividend payout ratio (DPR) is currently 92.31%.

Institutional Investors Weigh In On Artisan Partners Asset Management

A number of institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in Artisan Partners Asset Management by 4.9% during the third quarter. Geode Capital Management LLC now owns 1,775,314 shares of the asset manager's stock worth $76,920,000 after buying an additional 82,868 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Artisan Partners Asset Management by 3.3% during the 4th quarter. Principal Financial Group Inc. now owns 341,336 shares of the asset manager's stock worth $14,695,000 after acquiring an additional 10,802 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in Artisan Partners Asset Management during the fourth quarter valued at approximately $255,000. Jennison Associates LLC raised its holdings in Artisan Partners Asset Management by 60.8% in the fourth quarter. Jennison Associates LLC now owns 42,759 shares of the asset manager's stock worth $1,841,000 after purchasing an additional 16,166 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Artisan Partners Asset Management by 18.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,592 shares of the asset manager's stock worth $2,225,000 after purchasing an additional 7,966 shares in the last quarter. 86.45% of the stock is owned by institutional investors and hedge funds.

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.