Zacks Investment Research downgraded shares of Artisan Partners Asset Management Inc. (NYSE:APAM) from a hold rating to a strong sell rating in a report released on Monday.

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 research analysts have also issued reports on APAM. Keefe, Bruyette & Woods lowered shares of Artisan Partners Asset Management from an outperform rating to a market perform rating and increased their target price for the stock from $32.00 to $33.00 in a research report on Wednesday, August 2nd. Royal Bank Of Canada set a $36.00 target price on shares of Artisan Partners Asset Management and gave the stock a buy rating in a research report on Tuesday, August 1st. BidaskClub lowered shares of Artisan Partners Asset Management from a buy rating to a hold rating in a research report on Tuesday, August 1st. TheStreet upgraded shares of Artisan Partners Asset Management from a c+ rating to a b- rating in a research report on Monday, July 17th. Finally, Jefferies Group LLC reiterated a hold rating and set a $32.00 price target on shares of Artisan Partners Asset Management in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $29.94.

Artisan Partners Asset Management (NYSE APAM) opened at 31.00 on Monday. Artisan Partners Asset Management has a 1-year low of $24.48 and a 1-year high of $33.85. The firm has a market capitalization of $1.54 billion, a P/E ratio of 18.29 and a beta of 1.76. The company has a 50-day moving average price of $30.42 and a 200 day moving average price of $29.41.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings results on Monday, July 31st. The asset manager reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.01). The company had revenue of $196.20 million during the quarter, compared to the consensus estimate of $194.25 million. Artisan Partners Asset Management had a net margin of 11.37% and a return on equity of 78.75%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 earnings per share. Analysts expect that Artisan Partners Asset Management will post $2.34 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This article was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this article on another publication, it was illegally stolen and republished in violation of US & international copyright & trademark legislation. The original version of this article can be viewed at https://www.thecerbatgem.com/2017/09/19/artisan-partners-asset-management-inc-apam-downgraded-by-zacks-investment-research-to-strong-sell.html.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Thursday, August 17th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 7.74%. The ex-dividend date was Tuesday, August 15th. Artisan Partners Asset Management’s dividend payout ratio (DPR) is presently 145.46%.

Hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP raised its position in Artisan Partners Asset Management by 3.5% in the second quarter. Quantbot Technologies LP now owns 3,591 shares of the asset manager’s stock worth $110,000 after acquiring an additional 120 shares during the period. Ameritas Investment Partners Inc. bought a new stake in shares of Artisan Partners Asset Management in the second quarter valued at approximately $120,000. Segantii Capital Management Ltd bought a new stake in shares of Artisan Partners Asset Management in the first quarter valued at approximately $135,000. Tower Research Capital LLC TRC bought a new stake in shares of Artisan Partners Asset Management in the first quarter valued at approximately $151,000. Finally, Utah Retirement Systems raised its position in shares of Artisan Partners Asset Management by 10.4% in the first quarter. Utah Retirement Systems now owns 7,400 shares of the asset manager’s stock valued at $205,000 after purchasing an additional 700 shares during the period. 99.82% of the stock is currently owned by institutional investors and hedge funds.

About Artisan Partners Asset Management

Artisan Partners Asset Management Inc is an investment management company. The Company provides a range of the United States, non-United States and global investment strategies, each of which is managed by one of its investment teams. The Company provides investment management services to separate accounts, mutual funds and other pooled investment vehicles.

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

Receive News & Stock Ratings for Artisan Partners Asset Management Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Artisan Partners Asset Management Inc. and related stocks with our FREE daily email newsletter.