Artisan Partners Asset Management Inc. (NYSE:APAM) Given Consensus Rating of “Hold” by Analysts

Shares of Artisan Partners Asset Management Inc. (NYSE:APAM) have been given a consensus rating of “Hold” by the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $44.00.

Several analysts have commented on the stock. TD Cowen decreased their price target on shares of Artisan Partners Asset Management from $47.00 to $43.00 and set a “hold” rating on the stock in a research note on Monday, September 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Artisan Partners Asset Management in a research note on Tuesday, October 14th. Zacks Research cut shares of Artisan Partners Asset Management from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Royal Bank Of Canada upped their target price on shares of Artisan Partners Asset Management from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Finally, Evercore ISI decreased their target price on shares of Artisan Partners Asset Management from $45.00 to $43.00 and set an “in-line” rating on the stock in a research report on Thursday, October 9th.

Artisan Partners Asset Management Stock Down 1.5%

Shares of APAM stock opened at $43.49 on Thursday. The stock has a market cap of $3.51 billion, a P/E ratio of 11.88 and a beta of 1.72. Artisan Partners Asset Management has a 52 week low of $32.75 and a 52 week high of $49.54. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.48. The company’s fifty day simple moving average is $44.85 and its two-hundred day simple moving average is $43.52.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings results on Tuesday, October 28th. The asset manager reported $1.02 EPS for the quarter, topping the consensus estimate of $0.97 by $0.05. The business had revenue of $301.30 million for the quarter, compared to analysts’ expectations of $300.90 million. Artisan Partners Asset Management had a net margin of 22.90% and a return on equity of 73.41%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.92 EPS. Analysts predict that Artisan Partners Asset Management will post 3.6 EPS for the current fiscal year.

Artisan Partners Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a dividend of $0.88 per share. The ex-dividend date is Friday, November 14th. This represents a $3.52 annualized dividend and a dividend yield of 8.1%. This is a positive change from Artisan Partners Asset Management’s previous quarterly dividend of $0.73. Artisan Partners Asset Management’s dividend payout ratio is currently 77.66%.

Institutional Trading of Artisan Partners Asset Management

Hedge funds have recently made changes to their positions in the business. SVB Wealth LLC purchased a new stake in shares of Artisan Partners Asset Management during the 1st quarter valued at about $33,000. Carolina Wealth Advisors LLC purchased a new stake in shares of Artisan Partners Asset Management during the 3rd quarter valued at about $55,000. Atlantic Union Bankshares Corp purchased a new stake in shares of Artisan Partners Asset Management during the 2nd quarter valued at about $57,000. Farther Finance Advisors LLC raised its position in shares of Artisan Partners Asset Management by 24.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,282 shares of the asset manager’s stock valued at $57,000 after buying an additional 249 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of Artisan Partners Asset Management by 31.4% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,465 shares of the asset manager’s stock valued at $65,000 after buying an additional 350 shares in the last quarter. 86.45% of the stock is currently owned by hedge funds and other institutional investors.

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.