Artisan Partners Asset Management (NYSE:APAM) Hits New 52-Week High – Should You Buy?

Artisan Partners Asset Management Inc. (NYSE:APAM)’s share price reached a new 52-week high on Friday . The stock traded as high as $46.75 and last traded at $46.58, with a volume of 39833 shares traded. The stock had previously closed at $46.29.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on APAM shares. The Goldman Sachs Group reduced their price objective on shares of Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating for the company in a research report on Thursday, October 3rd. TD Cowen increased their price target on Artisan Partners Asset Management from $38.00 to $39.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $50.00 price objective on shares of Artisan Partners Asset Management in a research report on Monday, July 29th. Finally, StockNews.com lowered Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Artisan Partners Asset Management has an average rating of “Hold” and a consensus target price of $42.83.

Artisan Partners Asset Management Stock Up 1.3 %

The firm has a market capitalization of $3.77 billion, a PE ratio of 14.30 and a beta of 1.79. The stock has a 50-day simple moving average of $41.94 and a 200-day simple moving average of $42.31. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.54.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings data on Tuesday, July 23rd. The asset manager reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.05). The firm had revenue of $270.80 million during the quarter, compared to analysts’ expectations of $274.70 million. Artisan Partners Asset Management had a return on equity of 71.76% and a net margin of 22.75%. The company’s revenue was up 11.5% compared to the same quarter last year. During the same period last year, the business posted $0.71 EPS. Analysts forecast that Artisan Partners Asset Management Inc. will post 3.36 EPS for the current year.

Artisan Partners Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a dividend of $0.71 per share. This is a boost from Artisan Partners Asset Management’s previous quarterly dividend of $0.61. This represents a $2.84 dividend on an annualized basis and a dividend yield of 6.06%. The ex-dividend date was Friday, August 16th. Artisan Partners Asset Management’s dividend payout ratio is presently 86.59%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Mather Group LLC. purchased a new stake in shares of Artisan Partners Asset Management in the first quarter worth about $26,000. Matrix Trust Co purchased a new stake in Artisan Partners Asset Management in the 3rd quarter worth approximately $30,000. MCF Advisors LLC bought a new position in Artisan Partners Asset Management in the 1st quarter valued at $31,000. GAMMA Investing LLC grew 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 in the last quarter. Finally, Hexagon Capital Partners LLC increased its holdings in shares of Artisan Partners Asset Management by 41.8% in the third 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. 86.45% of the stock is currently owned by hedge funds and other institutional investors.

Artisan Partners Asset Management Company Profile

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.