Jefferies Group Weighs in on Artisan Partners Asset Management Inc.’s FY2017 Earnings (APAM)
Artisan Partners Asset Management Inc. (NYSE:APAM) – Stock analysts at Jefferies Group lifted their FY2017 earnings estimates for Artisan Partners Asset Management in a research report issued on Tuesday. Jefferies Group analyst S. Thind now forecasts that the asset manager will post earnings per share of $2.42 for the year, up from their previous forecast of $2.37. Jefferies Group has a “Hold” rating and a $32.00 price objective on the stock. Jefferies Group also issued estimates for Artisan Partners Asset Management’s Q4 2017 earnings at $0.67 EPS, Q1 2018 earnings at $0.63 EPS, Q2 2018 earnings at $0.68 EPS, Q3 2018 earnings at $0.73 EPS, Q4 2018 earnings at $0.76 EPS, FY2018 earnings at $2.80 EPS and FY2019 earnings at $3.18 EPS.
Several other equities research analysts also recently issued reports on the company. BidaskClub downgraded Artisan Partners Asset Management from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 28th. 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 Wednesday, October 18th. Zacks Investment Research raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Tuesday, October 10th. Sidoti raised shares of Artisan Partners Asset Management from a “neutral” rating to a “buy” rating in a report on Friday, August 4th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods cut shares of Artisan Partners Asset Management from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $32.00 to $33.00 in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $31.93.
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Artisan Partners Asset Management (APAM) traded down $0.35 during trading hours on Friday, hitting $36.65. The company’s stock had a trading volume of 392,595 shares, compared to its average volume of 403,657. The stock has a market capitalization of $2,770.00, a P/E ratio of 17.97, a P/E/G ratio of 1.57 and a beta of 1.77. Artisan Partners Asset Management has a 12-month low of $26.30 and a 12-month high of $37.55. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.27.
Artisan Partners Asset Management (NYSE:APAM) last posted its earnings results on Tuesday, October 31st. The asset manager reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.02. The firm had revenue of $204.60 million for the quarter, compared to the consensus estimate of $204.53 million. Artisan Partners Asset Management had a return on equity of 95.09% and a net margin of 12.58%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.56 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th will be issued a $0.60 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $2.40 annualized dividend and a dividend yield of 6.55%. Artisan Partners Asset Management’s payout ratio is currently 129.03%.
Several institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP increased its stake in Artisan Partners Asset Management by 3.5% in the second quarter. Quantbot Technologies LP now owns 3,591 shares of the asset manager’s stock valued at $110,000 after acquiring an additional 120 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in Artisan Partners Asset Management in the second quarter valued at $120,000. New York State Teachers Retirement System bought a new position in Artisan Partners Asset Management in the third quarter valued at $127,000. Great West Life Assurance Co. Can increased its stake in Artisan Partners Asset Management by 51.2% in the third quarter. Great West Life Assurance Co. Can now owns 5,413 shares of the asset manager’s stock valued at $176,000 after acquiring an additional 1,832 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Artisan Partners Asset Management in the third quarter valued at $192,000. 64.58% of the stock is currently owned by hedge funds and other institutional investors.
Artisan Partners Asset Management Company Profile
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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