Zacks Investment Research Downgrades Artisan Partners Asset Management Inc (APAM) to Hold
Artisan Partners Asset Management Inc (NYSE:APAM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
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 analysts also recently issued reports on APAM. Jefferies Group LLC set a $28.00 price objective on Artisan Partners Asset Management and gave the stock a “hold” rating in a research report on Tuesday, January 10th. Citigroup Inc raised their price objective on Artisan Partners Asset Management from $27.00 to $27.50 and gave the stock a “neutral” rating in a research report on Wednesday, January 25th. Sidoti started coverage on Artisan Partners Asset Management in a research report on Thursday, March 30th. They set a “neutral” rating and a $31.00 price objective for the company. Finally, Keefe, Bruyette & Woods raised Artisan Partners Asset Management from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $30.00 to $33.00 in a research report on Monday, May 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $28.56.
Artisan Partners Asset Management (NYSE:APAM) traded up 0.51% on Wednesday, reaching $29.55. 533,554 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $27.88 and a 200-day moving average price of $28.60. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 18.58 and a beta of 1.77. Artisan Partners Asset Management has a 52 week low of $24.48 and a 52 week high of $33.50.
Artisan Partners Asset Management (NYSE:APAM) last issued its earnings results on Thursday, April 27th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Artisan Partners Asset Management had a return on equity of 130.11% and a net margin of 10.13%. The business had revenue of $184.10 million during the quarter, compared to the consensus estimate of $182.36 million. During the same period last year, the company earned $0.51 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, analysts predict that Artisan Partners Asset Management will post $2.25 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 31st. Investors of record on Wednesday, May 17th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 8.12%. The ex-dividend date is Monday, May 15th. Artisan Partners Asset Management’s payout ratio is 153.85%.
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Hedge funds have recently modified their holdings of the company. Capital Fund Management S.A. acquired a new stake in shares of Artisan Partners Asset Management during the third quarter worth about $821,000. Wells Fargo & Company MN boosted its position in shares of Artisan Partners Asset Management by 65.5% in the third quarter. Wells Fargo & Company MN now owns 2,495,538 shares of the asset manager’s stock worth $67,879,000 after buying an additional 987,531 shares during the period. Sprott Inc. purchased a new position in shares of Artisan Partners Asset Management during the third quarter worth approximately $3,427,000. Greatmark Investment Partners Inc. boosted its position in shares of Artisan Partners Asset Management by 15.7% in the third quarter. Greatmark Investment Partners Inc. now owns 33,775 shares of the asset manager’s stock worth $919,000 after buying an additional 4,595 shares during the period. Finally, First Trust Advisors LP purchased a new position in shares of Artisan Partners Asset Management during the third quarter worth approximately $351,000. 57.13% of the stock is owned by hedge funds and other institutional investors.
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.
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