Artisan Partners Asset Management (NYSE:APAM) Given New $43.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada lowered Artisan Partners Asset Management’s price target from $45 to $43 while maintaining an “outperform” rating, implying 28.31% upside from the prior close.
• Analyst sentiment remains mixed: the stock has a consensus “hold” rating and a $36.75 average target, with ratings ranging from buy to sell.
• Artisan Partners reported quarterly EPS of $0.94, beating estimates of $0.91, while revenue rose 8.9% year over year to $307.91 million.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) had its price target decreased by stock analysts at Royal Bank Of Canada from $45.00 to $43.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an "outperform" rating on the asset manager's stock. Royal Bank Of Canada's target price would indicate a potential upside of 28.31% from the company's previous close.

Several other equities analysts also recently weighed in on the stock. The Goldman Sachs Group cut their price target on shares of Artisan Partners Asset Management from $35.00 to $31.00 and set a "sell" rating on the stock in a report on Friday, October 2nd. Zacks Research raised Artisan Partners Asset Management from a "strong sell" rating to a "hold" rating in a report on Monday, September 14th. TD Cowen reissued a "hold" rating and issued a $37.00 price target on shares of Artisan Partners Asset Management in a report on Friday, September 11th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Artisan Partners Asset Management in a report on Tuesday, September 29th. Finally, Evercore set a $36.00 price objective on Artisan Partners Asset Management in a report on Friday, July 10th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $36.75.

Artisan Partners Asset Management Trading Down 0.4%

Shares of NYSE APAM opened at $33.51 on Friday. Artisan Partners Asset Management has a twelve month low of $33.02 and a twelve month high of $46.53. The firm has a market cap of $2.72 billion, a PE ratio of 8.15 and a beta of 1.70. The business has a fifty day simple moving average of $39.62 and a two-hundred day simple moving average of $37.90. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.41.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The asset manager reported $0.94 EPS for the quarter, beating the consensus estimate of $0.91 by $0.03. Artisan Partners Asset Management had a return on equity of 73.11% and a net margin of 24.08%.The firm had revenue of $307.91 million for the quarter, compared to analyst estimates of $301.32 million. During the same quarter last year, the firm posted $0.83 earnings per share. The business's revenue for the quarter was up 8.9% on a year-over-year basis. Analysts expect that Artisan Partners Asset Management will post 3.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Gregory Ramirez sold 7,000 shares of the company's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $42.59, for a total value of $298,130.00. Following the transaction, the executive vice president owned 109,194 shares of the company's stock, valued at $4,650,572.46. This represents a 6.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.30% of the stock is owned by corporate insiders.

Institutional Trading of Artisan Partners Asset Management

Hedge funds and other institutional investors have recently modified their holdings of the business. Trust Co. of Vermont purchased a new position in shares of Artisan Partners Asset Management during the second quarter worth $28,000. Nykredit A S acquired a new stake in shares of Artisan Partners Asset Management during the second quarter worth about $40,000. Highland Investment Advisors LLC purchased a new position in shares of Artisan Partners Asset Management in the second quarter valued at approximately $51,000. Public Employees Retirement System of Ohio purchased a new position in shares of Artisan Partners Asset Management in the second quarter valued at approximately $52,000. Finally, SHP Wealth Management acquired a new position in shares of Artisan Partners Asset Management in the fourth quarter valued at approximately $64,000. 86.45% of the stock is owned by institutional investors and hedge funds.

About Artisan Partners Asset Management

Artisan Partners Asset Management, Inc NYSE: APAM is a global investment management firm that provides active investment strategies to institutional investors, financial intermediaries and private clients. The company operates through affiliated investment teams with distinct approaches, investment philosophies and areas of expertise.

Artisan Partners offers a range of equity, fixed-income and alternative investment strategies. Its products and services include separately managed accounts, mutual funds, collective investment trusts and other investment vehicles designed for institutions, wealth managers and individual investors.

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