Artisan Partners Asset Management (NYSE:APAM) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Artisan Partners Asset Management to “strong sell” from “hold,” contributing to a consensus “Reduce” rating and an average analyst price target of $35.25.
• APAM shares opened at $31.65, near their 52-week low of $30.86 and below their 50-day and 200-day moving averages. Analysts have recently reduced price targets, including Goldman Sachs, TD Cowen and RBC.
• The company’s latest quarterly results exceeded expectations, with $0.94 in EPS and $307.91 million in revenue; revenue increased 8.9% year over year and analysts expect full-year EPS of $3.86.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Tuesday, Zacks reports.

Other research analysts also recently issued research reports about the company. Royal Bank Of Canada dropped their price target on Artisan Partners Asset Management from $45.00 to $43.00 and set an "outperform" rating for the company in a research note on Friday, October 9th. Evercore set a $34.00 price objective on shares of Artisan Partners Asset Management in a research note on Friday, October 9th. The Goldman Sachs Group decreased their target price 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. TD Cowen decreased their target price on shares of Artisan Partners Asset Management from $37.00 to $33.00 and set a "hold" rating on the stock in a report on Monday. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Artisan Partners Asset Management in a research report on Tuesday, September 29th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and an average target price of $35.25.

Artisan Partners Asset Management Price Performance

Shares of NYSE APAM opened at $31.65 on Tuesday. The business has a fifty day moving average price of $38.86 and a two-hundred day moving average price of $37.79. The stock has a market capitalization of $2.57 billion, a PE ratio of 7.68 and a beta of 1.70. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.90 and a quick ratio of 0.90. Artisan Partners Asset Management has a fifty-two week low of $30.86 and a fifty-two week high of $46.53.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last released its earnings results on Tuesday, July 28th. The asset manager reported $0.94 earnings per share (EPS) for the quarter, topping 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 company had revenue of $307.91 million for the quarter, compared to analyst estimates of $301.32 million. During the same period in the prior year, the firm posted $0.83 EPS. Artisan Partners Asset Management's quarterly revenue was up 8.9% on a year-over-year basis. As a group, equities analysts predict that Artisan Partners Asset Management will post 3.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Artisan Partners Asset Management

In other news, EVP Gregory Ramirez sold 7,000 shares of Artisan Partners Asset Management 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 in the company, valued at approximately $4,650,572.46. This trade represents a 6.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.30% of the company's stock.

Institutional Trading of Artisan Partners Asset Management

Several institutional investors and hedge funds have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. grew its position in Artisan Partners Asset Management by 8.2% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 10,349 shares of the asset manager's stock worth $374,000 after acquiring an additional 781 shares during the last quarter. Salvus Wealth Management LLC increased its holdings in Artisan Partners Asset Management by 29.1% in the 3rd quarter. Salvus Wealth Management LLC now owns 12,454 shares of the asset manager's stock worth $450,000 after purchasing an additional 2,804 shares in the last quarter. Farther Finance Advisors LLC raised its position in Artisan Partners Asset Management by 20.9% in the third quarter. Farther Finance Advisors LLC now owns 3,148 shares of the asset manager's stock valued at $114,000 after purchasing an additional 545 shares during the last quarter. QRG Capital Management Inc. raised its position in Artisan Partners Asset Management by 11.0% in the second quarter. QRG Capital Management Inc. now owns 33,499 shares of the asset manager's stock valued at $1,157,000 after purchasing an additional 3,319 shares during the last quarter. Finally, Engineers Gate Manager LP raised its position in Artisan Partners Asset Management by 73.2% in the second quarter. Engineers Gate Manager LP now owns 14,200 shares of the asset manager's stock valued at $490,000 after purchasing an additional 6,000 shares during the last quarter. 86.45% of the stock is currently owned by institutional investors.

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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