Artisan Partners Asset Management (NYSE:APAM) Raised to Hold at Zacks Research

Artisan Partners Asset Management (NYSE:APAM) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other brokerages also recently weighed in on APAM. Evercore set a $37.00 target price on Artisan Partners Asset Management in a research note on Friday, April 10th. Weiss Ratings downgraded Artisan Partners Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 20th. The Goldman Sachs Group lowered their price objective on shares of Artisan Partners Asset Management from $39.00 to $34.00 and set a “sell” rating on the stock in a research note on Tuesday, April 7th. TD Cowen reaffirmed a “hold” rating on shares of Artisan Partners Asset Management in a research report on Thursday, April 9th. Finally, Royal Bank Of Canada cut their target price on shares of Artisan Partners Asset Management from $48.00 to $43.00 and set an “outperform” rating for the company in a research note on Thursday, April 30th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $39.25.

Artisan Partners Asset Management Price Performance

NYSE APAM opened at $37.09 on Wednesday. Artisan Partners Asset Management has a 1 year low of $34.99 and a 1 year high of $48.50. The company has a fifty day simple moving average of $36.79 and a 200 day simple moving average of $40.39. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The company has a market cap of $2.99 billion, a P/E ratio of 9.39 and a beta of 1.68.

Artisan Partners Asset Management (NYSE:APAM) last announced its earnings results on Tuesday, April 28th. The asset manager reported $0.87 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.04). Artisan Partners Asset Management had a return on equity of 72.99% and a net margin of 23.49%.The firm had revenue of $303.01 million during the quarter, compared to the consensus estimate of $304.01 million. During the same quarter last year, the business earned $0.83 EPS. The business’s revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts predict that Artisan Partners Asset Management will post 3.93 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Bank of America Corp DE raised its position in Artisan Partners Asset Management by 11.0% in the first quarter. Bank of America Corp DE now owns 343,520 shares of the asset manager’s stock worth $12,501,000 after purchasing an additional 33,921 shares in the last quarter. Edgestream Partners L.P. lifted its holdings in shares of Artisan Partners Asset Management by 101.7% during the first quarter. Edgestream Partners L.P. now owns 218,013 shares of the asset manager’s stock valued at $7,933,000 after acquiring an additional 109,926 shares during the period. Smith Group Asset Management LLC lifted its holdings in shares of Artisan Partners Asset Management by 9.5% during the first quarter. Smith Group Asset Management LLC now owns 13,436 shares of the asset manager’s stock valued at $489,000 after acquiring an additional 1,168 shares during the period. Amundi boosted its stake in shares of Artisan Partners Asset Management by 6.0% in the 1st quarter. Amundi now owns 16,030 shares of the asset manager’s stock valued at $583,000 after purchasing an additional 909 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Artisan Partners Asset Management by 25.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,036 shares of the asset manager’s stock worth $183,000 after purchasing an additional 1,037 shares during the last quarter. 86.45% of the stock is currently owned by institutional investors and hedge funds.

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.