Artisan Partners Asset Management (NYSE:APAM) Hits New 1-Year High – Here’s What Happened

Artisan Partners Asset Management Inc. (NYSE:APAM)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $46.75 and last traded at $46.58, with a volume of 39833 shares. The stock had previously closed at $46.29.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. StockNews.com downgraded shares of Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $50.00 price objective on shares of Artisan Partners Asset Management in a report on Monday, July 29th. 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 report on Thursday, October 3rd. Finally, TD Cowen upped their target price on Artisan Partners Asset Management from $38.00 to $39.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $42.83.

Artisan Partners Asset Management Stock Up 1.3 %

The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a 50 day moving average price of $41.94 and a 200-day moving average price of $42.31. The stock has a market capitalization of $3.77 billion, a P/E ratio of 14.30 and a beta of 1.79.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings results on Tuesday, July 23rd. The asset manager reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). Artisan Partners Asset Management had a return on equity of 71.76% and a net margin of 22.75%. The company had revenue of $270.80 million during the quarter, compared to analysts’ expectations of $274.70 million. During the same period last year, the firm earned $0.71 earnings per share. Artisan Partners Asset Management’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, research analysts expect that Artisan Partners Asset Management Inc. will post 3.36 EPS for the current fiscal year.

Artisan Partners Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a dividend of $0.71 per share. This is a positive change from Artisan Partners Asset Management’s previous quarterly dividend of $0.61. This represents a $2.84 dividend on an annualized basis and a yield of 6.06%. The ex-dividend date of this dividend was Friday, August 16th. Artisan Partners Asset Management’s dividend payout ratio is currently 86.59%.

Institutional Trading of Artisan Partners Asset Management

Institutional investors have recently modified their holdings of the company. Vaughan Nelson Investment Management L.P. increased its position in Artisan Partners Asset Management by 42.5% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,331,970 shares of the asset manager’s stock valued at $60,965,000 after purchasing an additional 397,424 shares during the period. Millennium Management LLC bought a new position in Artisan Partners Asset Management in the second quarter worth about $10,685,000. Jupiter Asset Management Ltd. purchased a new stake in Artisan Partners Asset Management in the first quarter worth about $9,907,000. Kayne Anderson Rudnick Investment Management LLC boosted its position 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 valued at $273,494,000 after acquiring an additional 160,297 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new position in shares of 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.