Artisan Partners Asset Management (NYSE:APAM) Lowered to Strong Sell Rating by Zacks Research

Zacks Research cut shares of Artisan Partners Asset Management (NYSE:APAM) from a hold rating to a strong sell rating in a research note released on Wednesday morning,Zacks.com reports.

Several other research firms also recently issued reports on APAM. Wall Street Zen downgraded shares of Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Artisan Partners Asset Management in a research note on Thursday, July 2nd. The Goldman Sachs Group dropped their target price on shares of Artisan Partners Asset Management from $39.00 to $34.00 and set a “sell” rating on the stock in a research report on Tuesday, April 7th. Evercore set a $36.00 price target on shares of Artisan Partners Asset Management in a research note on Friday, July 10th. Finally, Royal Bank Of Canada raised their price target on shares of Artisan Partners Asset Management from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Thursday. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $39.25.

Artisan Partners Asset Management Stock Down 1.2%

Artisan Partners Asset Management stock opened at $38.53 on Wednesday. The business has a fifty day moving average price of $36.61 and a 200-day moving average price of $38.65. Artisan Partners Asset Management has a 1-year low of $33.96 and a 1-year high of $48.46. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 9.75 and a beta of 1.68. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.82 and a quick ratio of 0.82.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings results on Tuesday, April 28th. The asset manager reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.04). The business had revenue of $303.01 million during the quarter, compared to analysts’ expectations of $304.01 million. Artisan Partners Asset Management had a net margin of 23.49% and a return on equity of 72.99%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 earnings per share. Equities research analysts forecast that Artisan Partners Asset Management will post 3.89 EPS for the current fiscal year.

Artisan Partners Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a $0.77 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 8.0%. Artisan Partners Asset Management’s dividend payout ratio is currently 77.97%.

Institutional Investors Weigh In On Artisan Partners Asset Management

A number of institutional investors and hedge funds have recently modified their holdings of the company. Eagle Bay Advisors LLC acquired a new position in Artisan Partners Asset Management in the 4th quarter worth approximately $32,000. Triumph Capital Management lifted its stake in Artisan Partners Asset Management by 112.5% during the 4th quarter. Triumph Capital Management now owns 850 shares of the asset manager’s stock valued at $35,000 after acquiring an additional 450 shares during the period. Garton & Associates Financial Advisors LLC acquired a new stake in Artisan Partners Asset Management during the 4th quarter valued at approximately $37,000. IFP Advisors Inc boosted its holdings in shares of Artisan Partners Asset Management by 45.8% in the 3rd quarter. IFP Advisors Inc now owns 955 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 300 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Artisan Partners Asset Management in the 4th quarter valued at $51,000. Institutional investors and hedge funds own 86.45% of the company’s stock.

About Artisan Partners Asset Management

Artisan Partners Asset Management Inc is a global investment management firm that specializes in active, fundamental research-driven strategies across a range of equity, fixed income and alternative asset classes. Founded in 1994 by Andrew Ziegler, the company has built a reputation for its team-based approach to portfolio construction, emphasizing deep sector expertise and independent analysis. Its product lineup includes U.S. and international equity strategies, global emerging markets, as well as credit and multisector fixed income offerings.

Artisan Partners serves a diverse client base that spans institutional investors, intermediaries and high-net-worth individuals located in North America, Europe and Asia.