Artisan Partners Asset Management Inc (NYSE:APAM) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note 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. “

Several other research firms also recently weighed in on APAM. Royal Bank Of Canada set a $36.00 target price on Artisan Partners Asset Management and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Keefe, Bruyette & Woods downgraded Artisan Partners Asset Management from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $32.00 to $33.00 in a research report on Wednesday, August 2nd. BidaskClub downgraded Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. TheStreet upgraded Artisan Partners Asset Management from a “c+” rating to a “b-” rating in a research report on Monday, July 17th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $32.00 target price on shares of Artisan Partners Asset Management in a research report on Friday, July 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $29.50.

Shares of Artisan Partners Asset Management (NYSE APAM) traded up 1.36% during mid-day trading on Wednesday, hitting $33.45. The company had a trading volume of 264,011 shares. The company has a market cap of $1.66 billion, a PE ratio of 19.73 and a beta of 1.77. The firm has a 50-day moving average of $30.68 and a 200-day moving average of $29.76. Artisan Partners Asset Management has a 12 month low of $24.48 and a 12 month high of $33.85.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings data on Monday, July 31st. The asset manager reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.01). Artisan Partners Asset Management had a net margin of 24.88% and a return on equity of 56.88%. The company had revenue of $196.20 million during the quarter, compared to analysts’ expectations of $194.25 million. During the same quarter in the prior year, the company earned $0.53 earnings per share. The firm’s revenue was up 8.5% compared to the same quarter last year. On average, analysts expect that Artisan Partners Asset Management will post $2.34 EPS for the current year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Artisan Partners Asset Management by 5.3% during the second quarter. Vanguard Group Inc. now owns 3,967,953 shares of the asset manager’s stock worth $121,816,000 after acquiring an additional 200,446 shares during the last quarter. Neuberger Berman Group LLC increased its stake in Artisan Partners Asset Management by 7.6% during the second quarter. Neuberger Berman Group LLC now owns 2,224,776 shares of the asset manager’s stock worth $68,301,000 after acquiring an additional 156,187 shares during the last quarter. Wells Fargo & Company MN increased its stake in Artisan Partners Asset Management by 2.0% during the second quarter. Wells Fargo & Company MN now owns 2,116,198 shares of the asset manager’s stock worth $64,967,000 after acquiring an additional 41,092 shares during the last quarter. Royce & Associates LP increased its stake in Artisan Partners Asset Management by 8.4% during the second quarter. Royce & Associates LP now owns 1,178,740 shares of the asset manager’s stock worth $36,187,000 after acquiring an additional 91,600 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Artisan Partners Asset Management by 9.9% during the second quarter. Goldman Sachs Group Inc. now owns 1,111,933 shares of the asset manager’s stock worth $34,137,000 after acquiring an additional 99,766 shares during the last quarter. Hedge funds and other institutional investors own 65.63% of the company’s stock.

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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Analyst Recommendations for Artisan Partners Asset Management (NYSE:APAM)

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