Artisan Partners Asset Management Inc. (NYSE:APAM) Receives $37.90 Average Price Target from Brokerages

Shares of Artisan Partners Asset Management Inc. (NYSE:APAM) have received an average recommendation of “Hold” from the six analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $37.90.

Several research analysts recently commented on APAM shares. Cowen restated a “hold” rating on shares of Artisan Partners Asset Management in a report on Wednesday, May 14th. TD Securities raised their price target on shares of Artisan Partners Asset Management from $35.00 to $39.00 and gave the company a “hold” rating in a report on Thursday, May 1st. TD Cowen dropped their price objective on shares of Artisan Partners Asset Management from $46.00 to $35.00 and set a “hold” rating on the stock in a research note on Wednesday, April 9th. Royal Bank Of Canada lifted their price objective on shares of Artisan Partners Asset Management from $43.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, May 6th. Finally, Evercore ISI dropped their price objective on shares of Artisan Partners Asset Management from $33.00 to $32.00 and set an “in-line” rating on the stock in a research note on Thursday, May 1st.

Artisan Partners Asset Management Stock Performance

NYSE:APAM opened at $42.60 on Friday. The company’s 50-day moving average price is $40.06 and its 200-day moving average price is $41.50. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.51. The company has a market cap of $3.44 billion, a P/E ratio of 11.77 and a beta of 1.70. Artisan Partners Asset Management has a twelve month low of $32.75 and a twelve month high of $49.54.

Artisan Partners Asset Management (NYSE:APAM) last posted its quarterly earnings results on Tuesday, April 29th. The asset manager reported $0.83 EPS for the quarter, topping the consensus estimate of $0.76 by $0.07. Artisan Partners Asset Management had a net margin of 23.24% and a return on equity of 73.48%. The company had revenue of $277.10 million during the quarter, compared to analysts’ expectations of $281.15 million. During the same quarter in the previous year, the business posted $0.76 EPS. The firm’s revenue was up 4.8% on a year-over-year basis. On average, sell-side analysts forecast that Artisan Partners Asset Management will post 3.6 earnings per share for the current fiscal year.

Artisan Partners Asset Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 6.38%. The ex-dividend date was Friday, May 16th. Artisan Partners Asset Management’s payout ratio is 75.14%.

Insiders Place Their Bets

In related news, EVP Samuel Bentson Sellers sold 6,801 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $44.24, for a total value of $300,876.24. Following the transaction, the executive vice president now directly owns 40,529 shares in the company, valued at approximately $1,793,002.96. This represents a 14.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Charles J. Daley, Jr. sold 15,448 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $40.45, for a total value of $624,871.60. Following the completion of the sale, the chief financial officer now owns 91,363 shares in the company, valued at approximately $3,695,633.35. The trade was a 14.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.53% of the company’s stock.

Institutional Investors Weigh In On Artisan Partners Asset Management

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Artisan Partners Asset Management by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 8,097,132 shares of the asset manager’s stock worth $348,582,000 after acquiring an additional 78,979 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Artisan Partners Asset Management by 6.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,940,562 shares of the asset manager’s stock worth $114,976,000 after buying an additional 167,930 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in Artisan Partners Asset Management by 24.0% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,970,796 shares of the asset manager’s stock worth $77,057,000 after purchasing an additional 381,210 shares during the period. Geode Capital Management LLC lifted its position in Artisan Partners Asset Management by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 1,813,598 shares of the asset manager’s stock worth $78,092,000 after buying an additional 38,284 shares in the last quarter. Finally, Channing Capital Management LLC raised its holdings in shares of Artisan Partners Asset Management by 14.5% during the 4th quarter. Channing Capital Management LLC now owns 1,770,526 shares of the asset manager’s stock valued at $76,221,000 after purchasing an additional 224,455 shares in the last quarter. Institutional investors and hedge funds own 86.45% of the company’s stock.

About Artisan Partners Asset Management

Artisan Partners Asset Management Inc is publicly owned investment manager. It provides its services to pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. funds, as well as mutual funds, non-U.S. funds and collective trusts.