Zacks Investment Research upgraded shares of Artisan Partners Asset Management (NYSE:APAM) from a hold rating to a buy rating in a research note issued to investors on Tuesday. The brokerage currently has $39.00 target price on the asset manager’s stock.
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. “
A number of other equities research analysts have also issued reports on APAM. Royal Bank of Canada set a $46.00 price target on Artisan Partners Asset Management and gave the company a buy rating in a research report on Wednesday, February 7th. Bank of America reduced their price target on Artisan Partners Asset Management from $38.00 to $36.00 and set an underperform rating on the stock in a research report on Thursday, February 8th. ValuEngine lowered Artisan Partners Asset Management from a buy rating to a hold rating in a research report on Friday, December 1st. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $40.00 price target on shares of Artisan Partners Asset Management in a research report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.02). The company had revenue of $210.70 million during the quarter, compared to analyst estimates of $211.23 million. Artisan Partners Asset Management had a net margin of 6.23% and a return on equity of 119.11%. Artisan Partners Asset Management’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 EPS. analysts forecast that Artisan Partners Asset Management will post 3.17 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 7.19%. The ex-dividend date of this dividend is Tuesday, February 13th. Artisan Partners Asset Management’s dividend payout ratio is currently 315.79%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in APAM. Ameritas Investment Partners Inc. purchased a new position in shares of Artisan Partners Asset Management in the 2nd quarter valued at about $120,000. New York State Teachers Retirement System purchased a new position in shares of Artisan Partners Asset Management in the 3rd quarter valued at about $127,000. Great West Life Assurance Co. Can increased its holdings in shares of Artisan Partners Asset Management by 51.2% in 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 acquiring an additional 1,832 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Artisan Partners Asset Management in the 3rd quarter valued at about $192,000. Finally, Ausdal Financial Partners Inc. purchased a new position in shares of Artisan Partners Asset Management in the 4th quarter valued at about $205,000. Institutional investors and hedge funds own 65.75% of the company’s stock.
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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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