Zacks: Brokerages Anticipate Artisan Partners Asset Management Inc (APAM) Will Post Quarterly Sales of $210.85 Million

Equities research analysts predict that Artisan Partners Asset Management Inc (NYSE:APAM) will announce $210.85 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Artisan Partners Asset Management’s earnings, with the highest sales estimate coming in at $211.50 million and the lowest estimate coming in at $210.20 million. Artisan Partners Asset Management posted sales of $181.50 million in the same quarter last year, which would indicate a positive year over year growth rate of 16.2%. The business is scheduled to report its next quarterly earnings report on Monday, February 5th.

On average, analysts expect that Artisan Partners Asset Management will report full-year sales of $210.85 million for the current financial year, with estimates ranging from $795.10 million to $796.40 million. For the next year, analysts forecast that the business will post sales of $875.20 million per share, with estimates ranging from $862.20 million to $888.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Artisan Partners Asset Management.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings data on Tuesday, October 31st. The asset manager reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.02. Artisan Partners Asset Management had a return on equity of 95.09% and a net margin of 12.58%. The firm had revenue of $204.60 million during the quarter, compared to the consensus estimate of $204.53 million. During the same quarter in the previous year, the company posted $0.56 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year.

APAM has been the subject of a number of analyst reports. ValuEngine lowered Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $40.00 target price on shares of Artisan Partners Asset Management in a report on Friday, December 22nd. Royal Bank of Canada set a $41.00 target price on Artisan Partners Asset Management and gave the stock a “buy” rating in a report on Friday, December 15th. BidaskClub lowered Artisan Partners Asset Management from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 28th. Finally, Zacks Investment Research upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Tuesday, October 10th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $34.92.

Shares of Artisan Partners Asset Management (NYSE APAM) opened at $40.15 on Thursday. The company has a market capitalization of $2,932.04, a price-to-earnings ratio of 21.70, a PEG ratio of 0.92 and a beta of 1.83. Artisan Partners Asset Management has a 52 week low of $26.30 and a 52 week high of $40.65. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.40 and a quick ratio of 0.40.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its position in Artisan Partners Asset Management by 0.5% during the third quarter. Wells Fargo & Company MN now owns 2,125,952 shares of the asset manager’s stock worth $69,306,000 after buying an additional 9,754 shares during the last quarter. Sterling Capital Management LLC increased its position in Artisan Partners Asset Management by 12.5% during the third quarter. Sterling Capital Management LLC now owns 78,831 shares of the asset manager’s stock worth $2,570,000 after buying an additional 8,790 shares during the last quarter. AHL Partners LLP increased its position in Artisan Partners Asset Management by 102.3% during the second quarter. AHL Partners LLP now owns 226,766 shares of the asset manager’s stock worth $6,962,000 after buying an additional 114,696 shares during the last quarter. Royal Bank of Canada increased its position in Artisan Partners Asset Management by 13.8% during the second quarter. Royal Bank of Canada now owns 30,669 shares of the asset manager’s stock worth $940,000 after buying an additional 3,718 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Artisan Partners Asset Management by 1,613.0% during the second quarter. The Manufacturers Life Insurance Company now owns 34,997 shares of the asset manager’s stock worth $1,075,000 after buying an additional 32,954 shares during the last quarter. Institutional investors and hedge funds own 63.47% of the company’s stock.

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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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