Artisan Partners Asset Management Inc. (NYSE:APAM) Receives $43.67 Average Price Target from Analysts

Posted by on Dec 26th, 2020 // Comments off

Artisan Partners Asset Management Inc. (NYSE:APAM) has been given a consensus rating of “Buy” by the eight research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $43.67.

Several research analysts have weighed in on APAM shares. Keefe, Bruyette & Woods downgraded Artisan Partners Asset Management from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $45.00 to $48.00 in a research note on Monday, October 19th. ValuEngine lowered Artisan Partners Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, October 28th. Finally, Zacks Investment Research upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Friday, October 9th.

In other Artisan Partners Asset Management news, EVP Jason A. Gottlieb sold 10,000 shares of the business’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $41.55, for a total transaction of $415,500.00. Following the transaction, the executive vice president now owns 81,828 shares of the company’s stock, valued at $3,399,953.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 24.44% of the company’s stock.

A number of institutional investors have recently bought and sold shares of APAM. Handelsbanken Fonder AB purchased a new position in Artisan Partners Asset Management in the 2nd quarter valued at approximately $287,000. California Public Employees Retirement System increased its position in Artisan Partners Asset Management by 4.0% during the third quarter. California Public Employees Retirement System now owns 126,926 shares of the asset manager’s stock worth $4,949,000 after buying an additional 4,935 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Artisan Partners Asset Management by 32.8% during the second quarter. Bank of America Corp DE now owns 259,352 shares of the asset manager’s stock worth $8,429,000 after purchasing an additional 64,002 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Artisan Partners Asset Management by 7.7% during the second quarter. California State Teachers Retirement System now owns 81,959 shares of the asset manager’s stock worth $2,664,000 after purchasing an additional 5,894 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Artisan Partners Asset Management by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 778,012 shares of the asset manager’s stock valued at $25,285,000 after acquiring an additional 2,915 shares during the last quarter. 62.11% of the stock is owned by institutional investors.

Artisan Partners Asset Management stock traded up $0.21 during mid-day trading on Monday, reaching $49.89. The stock had a trading volume of 103,626 shares, compared to its average volume of 379,449. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 0.81 and a beta of 1.90. The company has a 50-day moving average price of $46.80 and a two-hundred day moving average price of $39.59. Artisan Partners Asset Management has a one year low of $17.69 and a one year high of $50.87. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.62 and a quick ratio of 0.62.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings results on Tuesday, October 27th. The asset manager reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.03. The firm had revenue of $232.70 million during the quarter, compared to analyst estimates of $231.55 million. Artisan Partners Asset Management had a net margin of 21.73% and a return on equity of 179.65%. On average, equities research analysts anticipate that Artisan Partners Asset Management will post 3.19 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 30th. Stockholders of record on Monday, November 16th were paid a $0.83 dividend. The ex-dividend date was Friday, November 13th. This is a positive change from Artisan Partners Asset Management’s previous quarterly dividend of $0.67. This represents a $3.32 dividend on an annualized basis and a dividend yield of 6.65%. Artisan Partners Asset Management’s payout ratio is currently 124.34%.

About Artisan Partners Asset Management

Artisan Partners Asset Management Inc is publicly owned investment manager. It provides its services to pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. funds, as well as mutual funds, non-U.S. funds and collective trusts.

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Analyst Recommendations for Artisan Partners Asset Management (NYSE:APAM)

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