Zacks Investment Research upgraded shares of Artisan Partners Asset Management Inc. (NYSE:APAM) from a hold rating to a buy rating in a research report released on Thursday. Zacks Investment Research currently has $31.00 price target on the stock.

According to Zacks, “Artisan Partners Asset Management Inc. is an independent investment management firm that provides a broad range of U.S., non-U.S. and global equity investment strategies. The Company’s manages investments primarily through mutual funds and separate accounts. Its clients include pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. pooled investment vehicles. Artisan Partners Asset Management Inc. is based in Milwaukee, WI United States. “

A number of other equities research analysts have also weighed in on the stock. Bank of America Corp. lowered shares of Artisan Partners Asset Management from a neutral rating to an underperform rating in a research note on Tuesday, June 28th. Citigroup Inc. reiterated a hold rating on shares of Artisan Partners Asset Management in a research note on Thursday, June 30th. Credit Suisse Group AG lowered shares of Artisan Partners Asset Management from an outperform rating to a neutral rating and set a $26.00 target price for the company. in a research note on Thursday, July 14th. Royal Bank Of Canada lowered shares of Artisan Partners Asset Management from an outperform rating to a sector perform rating and decreased their target price for the company from $38.00 to $31.00 in a research note on Monday, July 25th. Finally, RBC Capital Markets lowered shares of Artisan Partners Asset Management from an outperform rating to a sector perform rating and decreased their target price for the company from $38.00 to $31.00 in a research note on Monday, July 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $29.00.

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

Artisan Partners Asset Management (NYSE:APAM) traded up 0.73% during midday trading on Thursday, reaching $27.72. The company had a trading volume of 58,009 shares. Artisan Partners Asset Management has a 52 week low of $23.65 and a 52 week high of $40.62. The firm has a 50-day moving average price of $27.03 and a 200-day moving average price of $29.33. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 16.83 and a beta of 1.70.

Artisan Partners Asset Management (NYSE:APAM) last announced its earnings results on Monday, July 25th. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by $0.04. The company had revenue of $180.80 million for the quarter, compared to analysts’ expectations of $181.65 million. Artisan Partners Asset Management had a net margin of 9.80% and a return on equity of 141.04%. Artisan Partners Asset Management’s quarterly revenue was down 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.74 earnings per share. Analysts expect that Artisan Partners Asset Management will post $2.14 EPS for the current fiscal year.

In other Artisan Partners Asset Management news, Director Stephanie Dimarco purchased 1,078 shares of the stock in a transaction that occurred on Wednesday, November 30th. The stock was purchased at an average price of $38.95 per share, with a total value of $41,988.10. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 40.29% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the company. UBS Group AG increased its stake in shares of Artisan Partners Asset Management by 73.9% in the first quarter. UBS Group AG now owns 76,669 shares of the company’s stock valued at $2,365,000 after buying an additional 32,578 shares during the last quarter. BlackRock Inc. raised its position in shares of Artisan Partners Asset Management by 345.4% in the first quarter. BlackRock Inc. now owns 4,980 shares of the company’s stock worth $154,000 after buying an additional 3,862 shares during the period. Teachers Advisors Inc. raised its position in shares of Artisan Partners Asset Management by 68.1% in the first quarter. Teachers Advisors Inc. now owns 44,276 shares of the company’s stock worth $1,365,000 after buying an additional 17,935 shares during the period. Credit Agricole S A bought a new position in shares of Artisan Partners Asset Management during the first quarter worth approximately $321,000. Finally, GSA Capital Partners LLP bought a new position in shares of Artisan Partners Asset Management during the second quarter worth approximately $812,000. 55.86% of the stock is owned by institutional investors and hedge funds.

About Artisan Partners Asset Management

Artisan Partners Asset Management Inc is an investment management firm focused on providing investment strategies to clients around the global. The Company’s operations are conducted through Artisan Partners Holdings LP and its subsidiaries. It operates in the investment management industry. The Company provides investment management services to separate accounts and mutual funds, and other pooled investment vehicles.

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