Evercore ISI Forecasts Strong Price Appreciation for Artisan Partners Asset Management (NYSE:APAM) Stock

Artisan Partners Asset Management (NYSE:APAM) had its target price boosted by Evercore ISI from $40.00 to $44.00 in a report published on Thursday,Benzinga reports. They currently have an in-line rating on the asset manager’s stock.

APAM has been the subject of a number of other research reports. StockNews.com raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. TD Cowen lifted their price target on shares of Artisan Partners Asset Management from $41.00 to $43.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. 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. 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 for the company in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $44.13.

Artisan Partners Asset Management Trading Down 0.4 %

APAM opened at $47.96 on Thursday. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 13.36 and a beta of 1.79. The company’s 50 day simple moving average is $43.21 and its two-hundred day simple moving average is $42.42. Artisan Partners Asset Management has a 1-year low of $35.44 and a 1-year high of $49.30. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.73 and a quick ratio of 0.71.

Artisan Partners Asset Management (NYSE:APAM) last posted its quarterly earnings results on Tuesday, October 29th. The asset manager reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $279.60 million during the quarter, compared to analysts’ expectations of $279.70 million. Artisan Partners Asset Management had a return on equity of 71.50% and a net margin of 23.95%. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.75 earnings per share. Analysts expect that Artisan Partners Asset Management will post 3.49 EPS for the current fiscal year.

Artisan Partners Asset Management Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 6.84%. The ex-dividend date is Friday, November 15th. Artisan Partners Asset Management’s payout ratio is 79.11%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its stake in Artisan Partners Asset Management by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,898 shares of the asset manager’s stock worth $270,000 after acquiring an additional 498 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Artisan Partners Asset Management by 35.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,553 shares of the asset manager’s stock worth $2,314,000 after purchasing an additional 13,328 shares in the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of Artisan Partners Asset Management by 1.5% in the first quarter. Texas Permanent School Fund Corp now owns 60,038 shares of the asset manager’s stock valued at $2,748,000 after purchasing an additional 890 shares during the period. SG Americas Securities LLC acquired a new position in shares of Artisan Partners Asset Management in the first quarter valued at approximately $222,000. Finally, ClariVest Asset Management LLC increased its stake in Artisan Partners Asset Management by 57.7% during the 1st quarter. ClariVest Asset Management LLC now owns 31,559 shares of the asset manager’s stock worth $1,444,000 after buying an additional 11,544 shares during the period. 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.