Jefferies Group Reiterates “Hold” Rating for Artisan Partners Asset Management Inc. (APAM)
Artisan Partners Asset Management Inc. (NYSE:APAM)‘s stock had its “hold” rating restated by equities researchers at Jefferies Group in a research note issued to investors on Monday. They currently have a $29.00 price objective on the stock. Jefferies Group’s price objective would suggest a potential upside of 5.03% from the stock’s previous close.
APAM has been the topic of several other reports. Credit Suisse Group AG cut shares of Artisan Partners Asset Management from an “outperform” rating to a “neutral” rating and set a $26.00 price target on the stock. in a report on Thursday, July 14th. Citigroup Inc. reaffirmed a “hold” rating on shares of Artisan Partners Asset Management in a report on Thursday, June 30th. Bank of America Corp. cut shares of Artisan Partners Asset Management from a “neutral” rating to an “underperform” rating in a report on Tuesday, June 28th. Zacks Investment Research cut shares of Artisan Partners Asset Management from a “hold” rating to a “sell” rating in a report on Tuesday, June 28th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Artisan Partners Asset Management from $30.00 to $28.00 and set a “market perform” rating on the stock in a report on Wednesday, July 27th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $29.10.
Artisan Partners Asset Management (NYSE:APAM) traded down 0.645% during mid-day trading on Monday, reaching $27.432. 36,078 shares of the company were exchanged. Artisan Partners Asset Management has a 12 month low of $23.65 and a 12 month high of $40.62. The company’s 50 day moving average price is $27.07 and its 200-day moving average price is $29.32. The stock has a market capitalization of $1.15 billion, a P/E ratio of 16.656 and a beta of 1.70.
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Artisan Partners Asset Management (NYSE:APAM) last posted its quarterly earnings results on Monday, July 25th. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by $0.04. The company earned $180.80 million during the quarter, compared to analyst estimates of $181.65 million. Artisan Partners Asset Management had a net margin of 9.80% and a return on equity of 141.04%. The company’s revenue was down 14.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.74 earnings per share. On average, equities analysts expect that Artisan Partners Asset Management will post $2.14 earnings per share for the current fiscal year.
In other news, Director Stephanie Dimarco acquired 1,078 shares of the company’s stock in a transaction that occurred on Wednesday, November 30th. The shares were acquired at an average price of $38.95 per share, with a total value of $41,988.10. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 40.29% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in APAM. Denver Investment Advisors LLC purchased a new stake in Artisan Partners Asset Management during the second quarter worth $15,533,000. Schroder Investment Management Group boosted its stake in Artisan Partners Asset Management by 867.6% in the second quarter. Schroder Investment Management Group now owns 562,039 shares of the company’s stock worth $15,557,000 after buying an additional 503,951 shares during the period. Fuller & Thaler Asset Management Inc. boosted its stake in Artisan Partners Asset Management by 19.8% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,939,899 shares of the company’s stock worth $53,696,000 after buying an additional 321,202 shares during the period. Neuberger Berman Group LLC boosted its stake in Artisan Partners Asset Management by 25.2% in the second quarter. Neuberger Berman Group LLC now owns 1,400,077 shares of the company’s stock worth $38,754,000 after buying an additional 281,444 shares during the period. Finally, Global X Management Co. LLC purchased a new stake in Artisan Partners Asset Management during the second quarter worth $6,959,000. 55.90% 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 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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