Brokerages Set Artisan Partners Asset Management Inc. (NYSE:APAM) Price Target at $37.90

Shares of Artisan Partners Asset Management Inc. (NYSE:APAM) have been assigned a consensus recommendation of “Hold” from the six research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $37.90.

Several equities research analysts have commented on APAM shares. TD Cowen decreased their target price on shares of Artisan Partners Asset Management from $46.00 to $35.00 and set a “hold” rating on the stock in a research report on Wednesday, April 9th. Wall Street Zen raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a report on Tuesday, May 20th. TD Securities upped their price target on Artisan Partners Asset Management from $35.00 to $39.00 and gave the stock a “hold” rating in a report on Thursday, May 1st. Evercore ISI reduced their price objective on Artisan Partners Asset Management from $33.00 to $32.00 and set an “in-line” rating for the company in a report on Thursday, May 1st. Finally, Royal Bank Of Canada boosted their target price on Artisan Partners Asset Management from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 6th.

Insider Activity

In other Artisan Partners Asset Management news, CFO Charles J. Daley, Jr. sold 15,448 shares of Artisan Partners Asset Management stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $40.45, for a total value of $624,871.60. Following the completion of the sale, the chief financial officer now owns 91,363 shares in the company, valued at $3,695,633.35. The trade was a 14.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Samuel Bentson Sellers sold 6,801 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $44.24, for a total transaction of $300,876.24. Following the transaction, the executive vice president now owns 40,529 shares in the company, valued at approximately $1,793,002.96. The trade was a 14.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 12.53% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its holdings in shares of Artisan Partners Asset Management by 82.7% during the 4th quarter. Larson Financial Group LLC now owns 581 shares of the asset manager’s stock worth $25,000 after purchasing an additional 263 shares during the period. Bessemer Group Inc. lifted its position in Artisan Partners Asset Management by 208.6% during the fourth quarter. Bessemer Group Inc. now owns 574 shares of the asset manager’s stock valued at $25,000 after buying an additional 388 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Artisan Partners Asset Management by 110.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 628 shares of the asset manager’s stock worth $27,000 after buying an additional 330 shares during the period. SVB Wealth LLC purchased a new position in shares of Artisan Partners Asset Management in the 1st quarter valued at $33,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Artisan Partners Asset Management by 166.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,027 shares of the asset manager’s stock valued at $44,000 after acquiring an additional 642 shares in the last quarter. Institutional investors and hedge funds own 86.45% of the company’s stock.

Artisan Partners Asset Management Trading Up 1.9%

Shares of Artisan Partners Asset Management stock opened at $43.63 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.51. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 12.05 and a beta of 1.70. Artisan Partners Asset Management has a 52-week low of $32.75 and a 52-week high of $49.54. The company’s 50-day simple moving average is $40.36 and its 200-day simple moving average is $41.48.

Artisan Partners Asset Management (NYSE:APAM) last issued its earnings results on Tuesday, April 29th. The asset manager reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. Artisan Partners Asset Management had a return on equity of 73.48% and a net margin of 23.24%. The business had revenue of $277.10 million during the quarter, compared to the consensus estimate of $281.15 million. During the same period in the prior year, the business posted $0.76 EPS. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, equities research analysts anticipate that Artisan Partners Asset Management will post 3.6 earnings per share for the current year.

Artisan Partners Asset Management Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 6.23%. The ex-dividend date was Friday, May 16th. Artisan Partners Asset Management’s payout ratio is 75.14%.

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.