Artisan Partners Asset Management Inc. (NYSE:APAM) Stock Has Average Price Target of $34.75

Artisan Partners Asset Management Inc. (NYSE:APAM) has been given a consensus recommendation of “Reduce” by the six ratings firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $34.75.

APAM has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Artisan Partners Asset Management in a research note on Tuesday, September 29th. Zacks Research downgraded Artisan Partners Asset Management from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 13th. Royal Bank Of Canada dropped their target price on shares of Artisan Partners Asset Management from $43.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, October 30th. Evercore set a $33.00 price target on Artisan Partners Asset Management in a research report on Thursday, October 29th. Finally, TD Cowen lowered their price target on Artisan Partners Asset Management from $37.00 to $33.00 and set a “hold” rating for the company in a report on Monday, October 12th.

Artisan Partners Asset Management Trading Down 1.5%

Shares of Artisan Partners Asset Management stock opened at $39.18 on Monday. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 9.26 and a beta of 1.74. The business has a fifty day simple moving average of $36.42 and a 200-day simple moving average of $38.24. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.39. Artisan Partners Asset Management has a fifty-two week low of $30.86 and a fifty-two week high of $46.53.

Artisan Partners Asset Management (NYSE:APAM) last posted its quarterly earnings results on Tuesday, October 27th. The asset manager reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.07. Artisan Partners Asset Management had a return on equity of 71.69% and a net margin of 24.54%. The business had revenue of $312.52 million during the quarter, compared to the consensus estimate of $307.60 million. During the same quarter in the previous year, the firm earned $1.02 earnings per share. Artisan Partners Asset Management’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities analysts forecast that Artisan Partners Asset Management will post 3.94 EPS for the current fiscal year.

Artisan Partners Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 16th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 9.0%. This is an increase from Artisan Partners Asset Management’s previous quarterly dividend of $0.80. The ex-dividend date is Monday, November 16th. Artisan Partners Asset Management’s dividend payout ratio is 75.65%.

Insider Activity at Artisan Partners Asset Management

In other Artisan Partners Asset Management news, EVP Gregory Ramirez sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $42.59, for a total value 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. This trade represents a 6.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 11.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Artisan Partners Asset Management

Several institutional investors have recently bought and sold shares of the company. Trust Co. of Vermont purchased a new position in Artisan Partners Asset Management in the second quarter valued at $28,000. Nykredit A S bought a new stake in Artisan Partners Asset Management in the second quarter valued at about $40,000. Highland Investment Advisors LLC bought a new position in shares of Artisan Partners Asset Management during the second quarter worth approximately $51,000. Public Employees Retirement System of Ohio acquired a new position in shares of Artisan Partners Asset Management in the 2nd quarter valued at about $52,000. Finally, Versant Capital Management Inc raised its holdings in Artisan Partners Asset Management by 51.0% during the 2nd quarter. Versant Capital Management Inc now owns 1,658 shares of the asset manager’s stock valued at $57,000 after acquiring an additional 560 shares during the period. 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 an investment management company that provides actively managed investment strategies to institutional and intermediary clients, as well as certain private wealth investors. The company operates through Artisan Partners, L.P. and related entities, offering investment expertise across equity, fixed-income and alternative asset classes.

Its products and services include strategies focused on U.S. and international equities, emerging markets, non-U.S.