Artisan Partners Asset Management (NYSE:APAM) Stock Gets Price Target Cut from Royal Bank Of Canada

Artisan Partners Asset Management (NYSE:APAM) had its target price decreased by Royal Bank Of Canada from $45.00 to $43.00 in a report released on Friday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the asset manager’s stock.

APAM has been the subject of a number of other reports. Evercore set a $36.00 price objective on Artisan Partners Asset Management in a research note on Friday, July 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Artisan Partners Asset Management in a research note on Tuesday, September 29th. TD Cowen reissued a “hold” rating and issued a $37.00 target price on shares of Artisan Partners Asset Management in a research note on Friday, September 11th. The Goldman Sachs Group reduced their target price on Artisan Partners Asset Management from $35.00 to $31.00 and set a “sell” rating on the stock in a report on Friday, October 2nd. Finally, Zacks Research upgraded Artisan Partners Asset Management from a “strong sell” rating to a “hold” rating in a report on Monday, September 14th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $36.25.

Artisan Partners Asset Management Price Performance

APAM opened at $33.48 on Friday. The company has a fifty day moving average price of $39.51 and a two-hundred day moving average price of $37.88. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.90 and a current ratio of 0.90. Artisan Partners Asset Management has a 52 week low of $33.02 and a 52 week high of $46.53. The firm has a market capitalization of $2.71 billion, a PE ratio of 8.13 and a beta of 1.70.

Artisan Partners Asset Management (NYSE:APAM) last issued its earnings results on Tuesday, July 28th. The asset manager reported $0.94 EPS for the quarter, beating the consensus estimate of $0.91 by $0.03. The company had revenue of $307.91 million during the quarter, compared to analysts’ expectations of $301.32 million. Artisan Partners Asset Management had a net margin of 24.08% and a return on equity of 73.11%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 EPS. As a group, analysts anticipate that Artisan Partners Asset Management will post 3.86 earnings per share for the current year.

Artisan Partners Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were paid a $0.80 dividend. The ex-dividend date of this dividend was Monday, August 17th. This is a boost from Artisan Partners Asset Management’s previous quarterly dividend of $0.77. This represents a $3.20 annualized dividend and a yield of 9.6%. Artisan Partners Asset Management’s payout ratio is currently 77.67%.

Insiders Place Their Bets

In other Artisan Partners Asset Management news, EVP Gregory Ramirez sold 7,000 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $42.59, for a total value of $298,130.00. Following the sale, the executive vice president directly owned 109,194 shares in the company, valued at approximately $4,650,572.46. This trade represents a 6.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 11.30% of the company’s stock.

Hedge Funds Weigh In On Artisan Partners Asset Management

Several institutional investors and hedge funds have recently made changes to their positions in APAM. Farther Finance Advisors LLC raised its stake in Artisan Partners Asset Management by 20.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,148 shares of the asset manager’s stock worth $114,000 after buying an additional 545 shares during the period. QRG Capital Management Inc. lifted its holdings in Artisan Partners Asset Management by 11.0% during the second quarter. QRG Capital Management Inc. now owns 33,499 shares of the asset manager’s stock worth $1,157,000 after acquiring an additional 3,319 shares in the last quarter. Engineers Gate Manager LP lifted its holdings in Artisan Partners Asset Management by 73.2% during the second quarter. Engineers Gate Manager LP now owns 14,200 shares of the asset manager’s stock worth $490,000 after acquiring an additional 6,000 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in Artisan Partners Asset Management by 39.8% during the second quarter. Squarepoint Ops LLC now owns 66,967 shares of the asset manager’s stock worth $2,312,000 after acquiring an additional 19,069 shares in the last quarter. Finally, Allworth Financial LP grew its stake in Artisan Partners Asset Management by 19.4% in the second quarter. Allworth Financial LP now owns 3,691 shares of the asset manager’s stock valued at $127,000 after acquiring an additional 600 shares during the period. Institutional investors and hedge funds own 86.45% of the company’s stock.

About Artisan Partners Asset Management

Artisan Partners Asset Management, Inc (NYSE: APAM) is a global investment management firm that provides active investment strategies to institutional investors, financial intermediaries and private clients. The company operates through affiliated investment teams with distinct approaches, investment philosophies and areas of expertise.

Artisan Partners offers a range of equity, fixed-income and alternative investment strategies. Its products and services include separately managed accounts, mutual funds, collective investment trusts and other investment vehicles designed for institutions, wealth managers and individual investors.