Artisan Partners Asset Management (NYSE:APAM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.
According to Zacks, “Artisan Partners Asset Management Inc. is an independent investment management firm that provides a broad range of U.S., non-U.S. and global equity investment strategies. The Company’s manages investments primarily through mutual funds and separate accounts. Its clients include pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. pooled investment vehicles. Artisan Partners Asset Management Inc. is based in Milwaukee, WI United States. “
Several other research firms have also commented on APAM. ValuEngine lowered shares of Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $40.00 price target on shares of Artisan Partners Asset Management in a report on Friday, December 22nd. Royal Bank of Canada set a $41.00 price target on shares of Artisan Partners Asset Management and gave the company a “buy” rating in a report on Friday, December 15th. Finally, Bank of America decreased their price target on shares of Artisan Partners Asset Management from $38.00 to $36.00 and set an “underperform” rating for the company in a report on Thursday, February 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $37.33.
Artisan Partners Asset Management (NYSE:APAM) last posted its quarterly earnings results on Tuesday, February 6th. The asset manager reported $0.66 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.02). Artisan Partners Asset Management had a net margin of 6.23% and a return on equity of 119.11%. The business had revenue of $210.70 million during the quarter, compared to analyst estimates of $211.23 million. During the same period last year, the firm posted $0.53 earnings per share. The company’s quarterly revenue was up 16.1% on a year-over-year basis. analysts anticipate that Artisan Partners Asset Management will post 3.17 earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the business. New York State Teachers Retirement System acquired a new position in Artisan Partners Asset Management during the 3rd quarter valued at about $127,000. Ameritas Investment Partners Inc. acquired a new position in Artisan Partners Asset Management during the 2nd quarter valued at about $120,000. Ausdal Financial Partners Inc. acquired a new position in Artisan Partners Asset Management during the 4th quarter valued at about $205,000. Great West Life Assurance Co. Can boosted its stake in Artisan Partners Asset Management by 51.2% during the 3rd quarter. Great West Life Assurance Co. Can now owns 5,413 shares of the asset manager’s stock valued at $176,000 after purchasing an additional 1,832 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Artisan Partners Asset Management during the 4th quarter valued at about $225,000. 65.75% of the stock is owned by hedge funds and other institutional investors.
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Artisan Partners Asset Management Company Profile
Artisan Partners Asset Management Inc is an investment management company. The Company provides a range of the United States, non-United States and global investment strategies, each of which is managed by one of its investment teams. The Company provides investment management services to separate accounts, mutual funds and other pooled investment vehicles.
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