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

Key Points

• Zacks Research upgraded Artisan Partners Asset Management from “strong sell” to “hold.” Analyst consensus is also “hold,” with an average price target of $34.75.
• The asset manager reported quarterly EPS of $1.03, topping the $0.96 consensus estimate, while revenue of $312.52 million also beat expectations and rose 3.7% year over year.
• Analysts’ views remain mixed: Royal Bank of Canada kept an “outperform” rating, while Goldman Sachs rated the stock “sell”; their price targets include $42 and $31, respectively.

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

A number of other research analysts have also recently weighed in on the company. Evercore set a $33.00 price target on Artisan Partners Asset Management in a research report on Thursday, October 29th. Royal Bank Of Canada decreased their price objective on shares of Artisan Partners Asset Management from $43.00 to $42.00 and set an "outperform" rating on the stock in a research report on Friday, October 30th. The Goldman Sachs Group lowered their price objective on shares of Artisan Partners Asset Management from $35.00 to $31.00 and set a "sell" rating on the stock in a research note on Friday, October 2nd. Weiss Ratings restated a "hold (c)" rating on shares of Artisan Partners Asset Management in a report on Tuesday, September 29th. Finally, TD Cowen cut their target price on shares of Artisan Partners Asset Management from $37.00 to $33.00 and set a "hold" rating for the company in a research report on Monday, October 12th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $34.75.

Artisan Partners Asset Management Price Performance

Shares of NYSE:APAM opened at $38.11 on Wednesday. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 9.01 and a beta of 1.74. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.96 and a quick ratio of 0.96. The business's 50 day simple moving average is $36.17 and its 200-day simple moving average is $38.15. Artisan Partners Asset Management has a 12 month low of $30.86 and a 12 month high of $46.53.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last released its quarterly earnings data on Tuesday, October 27th. The asset manager reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.07. The firm had revenue of $312.52 million during the quarter, compared to the consensus estimate of $307.60 million. Artisan Partners Asset Management had a return on equity of 71.69% and a net margin of 24.54%. Artisan Partners Asset Management's quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the business posted $1.02 EPS. As a group, equities analysts forecast that Artisan Partners Asset Management will post 3.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Gregory Ramirez sold 7,000 shares of the business'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 completion of the transaction, the executive vice president directly owned 109,194 shares of the company's stock, valued at $4,650,572.46. The trade was a 6.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 11.30% of the company's stock.

Institutional Trading of Artisan Partners Asset Management

Large investors have recently made changes to their positions in the stock. Isthmus Partners LLC raised its stake in Artisan Partners Asset Management by 0.3% in the 3rd quarter. Isthmus Partners LLC now owns 95,118 shares of the asset manager's stock valued at $3,436,000 after purchasing an additional 326 shares during the last quarter. WealthCollab LLC boosted its stake in shares of Artisan Partners Asset Management by 21.9% during the 1st quarter. WealthCollab LLC now owns 2,072 shares of the asset manager's stock worth $75,000 after purchasing an additional 372 shares during the last quarter. Aviance Capital Partners LLC grew its holdings in shares of Artisan Partners Asset Management by 1.2% during the first quarter. Aviance Capital Partners LLC now owns 33,564 shares of the asset manager's stock worth $1,221,000 after buying an additional 405 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Artisan Partners Asset Management by 20.9% during the third quarter. Farther Finance Advisors LLC now owns 3,148 shares of the asset manager's stock worth $114,000 after buying an additional 545 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Artisan Partners Asset Management by 51.0% during the second quarter. Versant Capital Management Inc now owns 1,658 shares of the asset manager's stock worth $57,000 after buying an additional 560 shares in the last quarter. Institutional investors and hedge funds own 86.45% of the company's stock.

Artisan Partners Asset Management Company Profile

Artisan Partners Asset Management is a global investment management firm that provides active investment strategies to institutional and individual investors. The firm manages portfolios through specialized investment teams, each with its own investment approach and research process. Its offerings include equity and fixed-income strategies spanning a range of styles, market sectors and geographies. These strategies are available through vehicles such as mutual funds and separate accounts, serving clients including institutions and financial intermediaries.

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