Artisan Partners Asset Management’s (APAM) Hold Rating Reiterated at TD Cowen

TD Cowen reiterated their hold rating on shares of Artisan Partners Asset Management (NYSE:APAM) in a research report sent to investors on Friday,Benzinga reports. The firm currently has a $37.00 price target on the asset manager’s stock.

Several other analysts have also recently commented on APAM. Zacks Research cut shares of Artisan Partners Asset Management from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Artisan Partners Asset Management in a report on Thursday, July 2nd. Royal Bank Of Canada lifted their price objective on Artisan Partners Asset Management from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, July 30th. Finally, Evercore set a $36.00 target price on Artisan Partners Asset Management in a research note on Friday, July 10th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $38.00.

Artisan Partners Asset Management Price Performance

Artisan Partners Asset Management stock opened at $38.06 on Friday. The stock has a market capitalization of $3.09 billion, a P/E ratio of 9.24 and a beta of 1.67. Artisan Partners Asset Management has a 12-month low of $33.96 and a 12-month high of $47.06. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.90 and a quick ratio of 0.90. The firm’s 50-day moving average is $40.59 and its two-hundred day moving average is $38.17.

Artisan Partners Asset Management (NYSE:APAM) last posted its quarterly earnings data on Tuesday, July 28th. The asset manager reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.03. The business had revenue of $307.91 million during the quarter, compared to analyst estimates of $301.32 million. Artisan Partners Asset Management had a net margin of 24.08% and a return on equity of 73.11%. The company’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.83 earnings per share. Equities analysts predict that Artisan Partners Asset Management will post 3.91 earnings per share for the current year.

Artisan Partners Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 8.4%. This is a boost from Artisan Partners Asset Management’s previous quarterly dividend of $0.77. The ex-dividend date was Monday, August 17th. Artisan Partners Asset Management’s payout ratio is currently 77.67%.

Insiders Place Their Bets

In related news, EVP Gregory Ramirez sold 7,000 shares of Artisan Partners Asset Management stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $42.59, for a total transaction of $298,130.00. Following the sale, the executive vice president owned 109,194 shares of the company’s stock, valued at $4,650,572.46. The trade was a 6.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 11.30% of the company’s stock.

Institutional Trading of Artisan Partners Asset Management

Several large investors have recently modified their holdings of the business. Engineers Gate Manager LP increased its position in shares of Artisan Partners Asset Management by 73.2% during the second quarter. Engineers Gate Manager LP now owns 14,200 shares of the asset manager’s stock worth $490,000 after acquiring an additional 6,000 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in Artisan Partners Asset Management by 39.8% in the second quarter. Squarepoint Ops LLC now owns 66,967 shares of the asset manager’s stock valued at $2,312,000 after purchasing an additional 19,069 shares during the last quarter. Allworth Financial LP boosted its holdings in Artisan Partners Asset Management by 19.4% in the second quarter. Allworth Financial LP now owns 3,691 shares of the asset manager’s stock valued at $127,000 after purchasing an additional 600 shares during the last quarter. Nykredit A S acquired a new stake in Artisan Partners Asset Management during the 2nd quarter valued at approximately $40,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Artisan Partners Asset Management during the 2nd quarter valued at approximately $996,000. 86.45% of the stock is currently owned by institutional investors and hedge funds.

Artisan Partners Asset Management Company Profile

Artisan Partners Asset Management Inc is a global investment management company headquartered in Milwaukee, Wisconsin. Through its subsidiaries and investment teams, the company provides actively managed investment strategies to institutional investors, financial intermediaries and private clients.

The firm offers a range of equity, fixed-income and alternative investment strategies, including U.S. and international equities, emerging-market investments, credit and other specialized portfolios.