Evercore ISI Has Lowered Expectations for Artisan Partners Asset Management (NYSE:APAM) Stock Price

Artisan Partners Asset Management (NYSE:APAM) had its price objective decreased by analysts at Evercore ISI from $45.00 to $43.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “in-line” rating on the asset manager’s stock. Evercore ISI’s price target indicates a potential upside of 1.56% from the company’s current price.

Other equities research analysts also recently issued reports about 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 for the company in a research note on Monday, September 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Artisan Partners Asset Management in a research note on Saturday, September 27th. Zacks Research downgraded shares of Artisan Partners Asset Management from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Finally, Royal Bank Of Canada lifted their price target on shares of Artisan Partners Asset Management from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $44.00.

Artisan Partners Asset Management Price Performance

Shares of NYSE APAM opened at $42.34 on Thursday. Artisan Partners Asset Management has a twelve month low of $32.75 and a twelve month high of $49.54. The firm has a fifty day simple moving average of $45.57 and a 200 day simple moving average of $42.86. The company has a market capitalization of $3.42 billion, a PE ratio of 11.26 and a beta of 1.72. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.48.

Artisan Partners Asset Management (NYSE:APAM) last announced its earnings results on Tuesday, July 29th. The asset manager reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. Artisan Partners Asset Management had a net margin of 23.87% and a return on equity of 71.72%. The business had revenue of $282.80 million during the quarter, compared to the consensus estimate of $269.00 million. During the same quarter last year, the firm earned $0.82 earnings per share. Artisan Partners Asset Management’s quarterly revenue was up 4.4% on a year-over-year basis. On average, sell-side analysts forecast that Artisan Partners Asset Management will post 3.6 EPS for the current year.

Institutional Investors Weigh In On Artisan Partners Asset Management

Several hedge funds and other institutional investors have recently made changes to their positions in the business. SVB Wealth LLC purchased a new position in Artisan Partners Asset Management during the first quarter worth about $33,000. Carolina Wealth Advisors LLC purchased a new position in Artisan Partners Asset Management during the third quarter worth about $55,000. Atlantic Union Bankshares Corp purchased a new position in Artisan Partners Asset Management during the second quarter worth about $57,000. Farther Finance Advisors LLC boosted its holdings in Artisan Partners Asset Management by 24.1% during the second quarter. Farther Finance Advisors LLC now owns 1,282 shares of the asset manager’s stock worth $57,000 after purchasing an additional 249 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in Artisan Partners Asset Management by 31.4% during the second quarter. Smartleaf Asset Management LLC now owns 1,465 shares of the asset manager’s stock worth $65,000 after purchasing an additional 350 shares during the last quarter. 86.45% of the stock is 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.