TD Cowen Issues Positive Forecast for Artisan Partners Asset Management (NYSE:APAM) Stock Price

Artisan Partners Asset Management (NYSE:APAM - Free Report) had its price objective boosted by TD Cowen from $41.00 to $43.00 in a research note issued to investors on Thursday, Benzinga reports. TD Cowen currently has a hold rating on the asset manager's stock.

A number of other research analysts have also commented on the company. The Goldman Sachs Group decreased their price objective on Artisan Partners Asset Management from $40.00 to $39.50 and set a "sell" rating on the stock in a research report on Thursday, October 3rd. StockNews.com raised shares of Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $50.00 price objective on shares of Artisan Partners Asset Management in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Artisan Partners Asset Management has a consensus rating of "Hold" and a consensus price target of $44.17.

Artisan Partners Asset Management Price Performance

Shares of Artisan Partners Asset Management stock traded down $1.08 during mid-day trading on Thursday, reaching $44.11. 575,266 shares of the stock were exchanged, compared to its average volume of 446,191. Artisan Partners Asset Management has a fifty-two week low of $32.32 and a fifty-two week high of $47.08. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 12.29 and a beta of 1.79. The firm has a 50-day simple moving average of $42.56 and a 200 day simple moving average of $42.24. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.54.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last released 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. Artisan Partners Asset Management had a return on equity of 71.76% and a net margin of 22.75%. The business had revenue of $279.60 million for the quarter, compared to analyst estimates of $279.70 million. During the same period in the prior year, the company earned $0.75 EPS. Artisan Partners Asset Management's revenue for the quarter was up 12.4% on a year-over-year basis. On average, sell-side analysts predict that Artisan Partners Asset Management will post 3.36 EPS for the current fiscal year.

Artisan Partners Asset Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 7.44%. The ex-dividend date is Friday, November 15th. Artisan Partners Asset Management's dividend payout ratio is currently 91.36%.

Institutional Investors Weigh In On Artisan Partners Asset Management

Several hedge funds have recently bought and sold shares of APAM. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of 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 valued at $273,494,000 after purchasing an additional 160,297 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Artisan Partners Asset Management by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,617,617 shares of the asset manager's stock valued at $66,757,000 after buying an additional 74,393 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in shares of Artisan Partners Asset Management by 7.7% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,434,391 shares of the asset manager's stock worth $59,197,000 after acquiring an additional 102,421 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Artisan Partners Asset Management by 1.7% during the second quarter. Victory Capital Management Inc. now owns 920,012 shares of the asset manager's stock worth $37,969,000 after acquiring an additional 15,446 shares during the period. Finally, Raymond James & Associates lifted its position in Artisan Partners Asset Management by 8.0% in the 3rd quarter. Raymond James & Associates now owns 453,638 shares of the asset manager's stock valued at $19,652,000 after acquiring an additional 33,618 shares in the last quarter. 86.45% of the stock is currently 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.