Artisan Partners Asset Management Inc. (NYSE:APAM) Receives $37.90 Consensus Target Price from Brokerages

Artisan Partners Asset Management Inc. (NYSE:APAM) has been assigned an average rating of “Hold” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $37.90.

Several brokerages have recently issued reports on APAM. TD Cowen lowered their price objective on shares of Artisan Partners Asset Management from $46.00 to $35.00 and set a “hold” rating for the company in a research note on Wednesday, April 9th. TD Securities boosted their price objective on shares of Artisan Partners Asset Management from $35.00 to $39.00 and gave the company a “hold” rating in a research note on Thursday, May 1st. Royal Bank of Canada boosted their price objective on shares of Artisan Partners Asset Management from $43.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, May 6th. Cowen reissued a “hold” rating on shares of Artisan Partners Asset Management in a research note on Wednesday, May 14th. Finally, Evercore ISI lowered their price objective on shares of Artisan Partners Asset Management from $33.00 to $32.00 and set an “in-line” rating for the company in a research note on Thursday, May 1st.

Insider Buying and Selling

In related news, EVP Samuel Bentson Sellers sold 6,801 shares of the company’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $44.24, for a total transaction of $300,876.24. Following the completion of the sale, the executive vice president now directly owns 40,529 shares of the company’s stock, valued at approximately $1,793,002.96. This represents a 14.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 12.53% of the stock is owned by corporate insiders.

Institutional Trading of Artisan Partners Asset Management

Institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can lifted its holdings in Artisan Partners Asset Management by 40.2% in the 4th quarter. Bank of Montreal Can now owns 15,646 shares of the asset manager’s stock worth $674,000 after buying an additional 4,485 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Artisan Partners Asset Management by 3.3% in the 4th quarter. Principal Financial Group Inc. now owns 341,336 shares of the asset manager’s stock worth $14,695,000 after buying an additional 10,802 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in Artisan Partners Asset Management in the 4th quarter worth $255,000. Jennison Associates LLC lifted its holdings in Artisan Partners Asset Management by 60.8% in the 4th quarter. Jennison Associates LLC now owns 42,759 shares of the asset manager’s stock worth $1,841,000 after buying an additional 16,166 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Artisan Partners Asset Management by 18.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,592 shares of the asset manager’s stock worth $2,225,000 after buying an additional 7,966 shares in the last quarter. 86.45% of the stock is owned by hedge funds and other institutional investors.

Artisan Partners Asset Management Trading Down 1.0%

Shares of APAM opened at $40.30 on Monday. The stock has a fifty day moving average of $38.74 and a two-hundred day moving average of $42.24. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.73 and a current ratio of 0.56. The company has a market capitalization of $3.24 billion, a PE ratio of 11.07 and a beta of 1.68. Artisan Partners Asset Management has a fifty-two week low of $32.75 and a fifty-two week high of $49.54.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings results on Tuesday, April 29th. The asset manager reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.07. The company had revenue of $277.10 million during the quarter, compared to the consensus estimate of $281.15 million. Artisan Partners Asset Management had a return on equity of 74.02% and a net margin of 23.36%. Artisan Partners Asset Management’s revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.76 EPS. As a group, analysts forecast that Artisan Partners Asset Management will post 3.6 EPS for the current year.

Artisan Partners Asset Management Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.72 dividend on an annualized basis and a yield of 6.75%. Artisan Partners Asset Management’s dividend payout ratio (DPR) is 75.14%.

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.