Artisan Partners Asset Management (NYSE:APAM) Given “Hold” Rating at TD Cowen

Artisan Partners Asset Management (NYSE:APAM)‘s stock had its “hold” rating restated by research analysts at TD Cowen in a research note issued on Friday, Benzinga reports. They presently have a $37.00 price objective on the asset manager’s stock. TD Cowen’s target price would suggest a potential downside of 2.28% from the stock’s current price.

Several other research analysts also recently commented on the stock. Royal Bank Of Canada raised their price target on shares of Artisan Partners Asset Management from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Weiss Ratings restated a “hold (c)” rating on shares of Artisan Partners Asset Management in a research note on Thursday, July 2nd. Evercore set a $36.00 target price on shares of Artisan Partners Asset Management in a research report on Friday, July 10th. Finally, Zacks Research downgraded shares of Artisan Partners Asset Management from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $38.00.

Artisan Partners Asset Management Trading Down 4.6%

Shares of APAM traded down $1.84 during midday trading on Friday, hitting $37.86. The stock had a trading volume of 285,420 shares, compared to its average volume of 761,550. Artisan Partners Asset Management has a 1 year low of $33.96 and a 1 year high of $47.06. The firm has a market cap of $3.07 billion, a PE ratio of 9.20 and a beta of 1.67. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.90 and a quick ratio of 0.90. The stock’s 50 day moving average is $40.54 and its 200 day moving average is $38.19.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings results on Tuesday, July 28th. The asset manager reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.03. The firm had revenue of $307.91 million for the quarter, compared to the consensus estimate of $301.32 million. Artisan Partners Asset Management had a return on equity of 73.11% and a net margin of 24.08%.The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.83 earnings per share. As a group, analysts forecast that Artisan Partners Asset Management will post 3.91 EPS for the current fiscal year.

Insider Activity at Artisan Partners Asset Management

In related news, EVP Gregory Ramirez sold 7,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $42.59, for a total transaction of $298,130.00. Following the completion of the sale, the executive vice president directly owned 109,194 shares in the company, valued at $4,650,572.46. This represents a 6.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 11.30% of the company’s stock.

Institutional Trading of Artisan Partners Asset Management

Several hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Artisan Partners Asset Management by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,048,225 shares of the asset manager’s stock worth $124,185,000 after acquiring an additional 54,667 shares in the last quarter. State Street Corp boosted its stake in Artisan Partners Asset Management by 0.4% in the second quarter. State Street Corp now owns 2,769,107 shares of the asset manager’s stock valued at $122,755,000 after acquiring an additional 12,356 shares in the last quarter. California State Teachers Retirement System grew its holdings in Artisan Partners Asset Management by 3,122.7% in the second quarter. California State Teachers Retirement System now owns 2,732,601 shares of the asset manager’s stock worth $94,357,000 after purchasing an additional 2,647,808 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Artisan Partners Asset Management by 12.6% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 2,587,946 shares of the asset manager’s stock worth $94,175,000 after purchasing an additional 289,105 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of Artisan Partners Asset Management by 1.5% during the fourth quarter. Morgan Stanley now owns 2,022,630 shares of the asset manager’s stock worth $82,402,000 after purchasing an additional 30,515 shares in the last quarter. 86.45% of the stock is owned by hedge funds and other institutional investors.

About Artisan Partners Asset Management

Artisan Partners Asset Management Inc is a global investment management firm that specializes in active, fundamental research-driven strategies across a range of equity, fixed income and alternative asset classes. Founded in 1994 by Andrew Ziegler, the company has built a reputation for its team-based approach to portfolio construction, emphasizing deep sector expertise and independent analysis. Its product lineup includes U.S. and international equity strategies, global emerging markets, as well as credit and multisector fixed income offerings.

Artisan Partners serves a diverse client base that spans institutional investors, intermediaries and high-net-worth individuals located in North America, Europe and Asia.