Artisan Partners Asset Management (NYSE:APAM) Price Target Raised to $43.00 at TD Cowen

Artisan Partners Asset Management (NYSE:APAM) had its price objective hoisted by TD Cowen from $41.00 to $43.00 in a report published on Thursday, Benzinga reports. They currently have a hold rating on the asset manager’s stock.

Other equities research analysts have also recently issued reports about the company. The Goldman Sachs Group decreased their price target 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. StockNews.com upgraded 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 reiterated an “outperform” rating and set a $50.00 price objective on shares of Artisan Partners Asset Management in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $44.17.

Artisan Partners Asset Management Stock Up 0.9 %

APAM stock opened at $44.48 on Thursday. The business’s 50-day moving average price is $42.67 and its 200-day moving average price is $42.26. The stock has a market cap of $3.57 billion, a P/E ratio of 12.39 and a beta of 1.79. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.49. Artisan Partners Asset Management has a twelve month low of $33.90 and a twelve month high of $47.08.

Artisan Partners Asset Management (NYSE:APAM) last posted its quarterly earnings results on Tuesday, October 29th. The asset manager reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $279.60 million during the quarter, compared to analyst estimates of $279.70 million. Artisan Partners Asset Management had a net margin of 23.95% and a return on equity of 71.51%. The company’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. On average, equities research analysts forecast that Artisan Partners Asset Management will post 3.49 EPS for the current year.

Artisan Partners Asset Management Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 7.37%. The ex-dividend date of this dividend is Friday, November 15th. Artisan Partners Asset Management’s dividend payout ratio is presently 79.11%.

Institutional Trading of Artisan Partners Asset Management

Several hedge funds have recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Artisan Partners Asset Management by 2.5% in the second 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 increased its holdings in shares of Artisan Partners Asset Management by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,617,617 shares of the asset manager’s stock worth $66,757,000 after buying an additional 74,393 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of Artisan Partners Asset Management by 7.7% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,434,391 shares of the asset manager’s stock valued at $59,197,000 after buying an additional 102,421 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Artisan Partners Asset Management by 1.7% during the 2nd quarter. Victory Capital Management Inc. now owns 920,012 shares of the asset manager’s stock valued at $37,969,000 after buying an additional 15,446 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of 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 during the last quarter. 86.45% of the stock is owned by hedge funds and other institutional investors.

About Artisan Partners Asset Management

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.