TD Cowen Issues Positive Forecast for Artisan Partners Asset Management (NYSE:APAM) Stock Price

Artisan Partners Asset Management (NYSE:APAM) had its target price hoisted by TD Cowen from $41.00 to $43.00 in a research report released on Thursday morning, Benzinga reports. They currently have a hold rating on the asset manager’s stock.

Other equities analysts have also issued research reports about the company. StockNews.com raised Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $50.00 target price on shares of Artisan Partners Asset Management in a report on Monday, July 29th. Finally, The Goldman Sachs Group cut their price target on shares of Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating on the stock in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $44.17.

Artisan Partners Asset Management Trading Up 0.9 %

NYSE:APAM opened at $44.48 on Thursday. Artisan Partners Asset Management has a 52 week low of $33.90 and a 52 week high of $47.08. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average of $42.67 and a 200 day moving average of $42.26. The firm has a market capitalization of $3.57 billion, a P/E ratio of 12.39 and a beta of 1.79.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings results on Tuesday, October 29th. The asset manager reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Artisan Partners Asset Management had a return on equity of 71.51% and a net margin of 23.95%. The firm had revenue of $279.60 million for the quarter, compared to analysts’ expectations of $279.70 million. During the same period in the previous year, the firm posted $0.75 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, research analysts predict that Artisan Partners Asset Management will post 3.49 earnings per share for the current year.

Artisan Partners Asset Management Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 7.37%. The ex-dividend date of this dividend is Friday, November 15th. Artisan Partners Asset Management’s dividend payout ratio is currently 79.11%.

Institutional Trading of Artisan Partners Asset Management

Large investors have recently made changes to their positions in the stock. Matrix Trust Co bought a new position in Artisan Partners Asset Management in the third quarter valued at about $30,000. GAMMA Investing LLC increased its position in shares of Artisan Partners Asset Management by 81.5% during the 2nd quarter. GAMMA Investing LLC now owns 775 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 348 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of Artisan Partners Asset Management by 41.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,004 shares of the asset manager’s stock worth $43,000 after purchasing an additional 296 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Artisan Partners Asset Management by 735.9% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,212 shares of the asset manager’s stock worth $52,000 after buying an additional 1,067 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of Artisan Partners Asset Management in the second quarter worth approximately $63,000. 86.45% of the stock is currently owned by 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.