Artisan Partners Asset Management (NYSE:APAM) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Artisan Partners Asset Management from “strong sell” to “hold.” The broader analyst consensus is also “hold,” with an average price target of $38.00.
• APAM opened at $36.67, with a market capitalization of approximately $2.97 billion and a 52-week trading range of $33.96 to $46.53.
• The asset manager exceeded quarterly expectations, reporting $0.94 in earnings per share and $307.91 million in revenue, while revenue increased 8.9% year over year.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Monday, Zacks reports.

Several other brokerages have also issued reports on APAM. Royal Bank Of Canada lifted their price target on Artisan Partners Asset Management from $44.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, July 30th. Evercore set a $36.00 price objective on Artisan Partners Asset Management in a research report on Friday, July 10th. TD Cowen reaffirmed a "hold" rating and issued a $37.00 price objective on shares of Artisan Partners Asset Management in a research note on Friday, September 11th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Artisan Partners Asset Management in a research report on Thursday, July 2nd. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $38.00.

Artisan Partners Asset Management Stock Performance

NYSE APAM opened at $36.67 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 8.90 and a beta of 1.67. The firm's 50 day simple moving average is $40.63 and its 200 day simple moving average is $38.12. Artisan Partners Asset Management has a 1 year low of $33.96 and a 1 year high of $46.53.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last announced its quarterly earnings data 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 net margin of 24.08% and a return on equity of 73.11%. The business had revenue of $307.91 million during the quarter, compared to the consensus estimate of $301.32 million. During the same period in the previous year, the business earned $0.83 earnings per share. The company's revenue was up 8.9% on a year-over-year basis. As a group, research analysts expect that Artisan Partners Asset Management will post 3.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Artisan Partners Asset Management news, EVP Gregory Ramirez sold 7,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $4,650,572.46. This trade represents a 6.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 11.30% of the company's stock.

Hedge Funds Weigh In On Artisan Partners Asset Management

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. WINTON GROUP Ltd increased its stake in shares of Artisan Partners Asset Management by 0.9% during the fourth quarter. WINTON GROUP Ltd now owns 29,793 shares of the asset manager's stock valued at $1,214,000 after buying an additional 269 shares during the period. ProShare Advisors LLC lifted its stake in Artisan Partners Asset Management by 2.8% in the fourth quarter. ProShare Advisors LLC now owns 12,266 shares of the asset manager's stock worth $500,000 after acquiring an additional 331 shares during the period. WealthCollab LLC lifted its stake in Artisan Partners Asset Management by 21.9% in the first quarter. WealthCollab LLC now owns 2,072 shares of the asset manager's stock worth $75,000 after acquiring an additional 372 shares during the period. Aviance Capital Partners LLC boosted its holdings in Artisan Partners Asset Management by 1.2% in the first quarter. Aviance Capital Partners LLC now owns 33,564 shares of the asset manager's stock valued at $1,221,000 after acquiring an additional 405 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Artisan Partners Asset Management by 12.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,948 shares of the asset manager's stock valued at $202,000 after acquiring an additional 544 shares in the last quarter. 86.45% of the stock is currently owned by institutional investors and hedge funds.

About Artisan Partners Asset Management

Artisan Partners Asset Management Inc is a global investment management company headquartered in Milwaukee, Wisconsin. Through its subsidiaries and investment teams, the company provides actively managed investment strategies to institutional investors, financial intermediaries and private clients.

The firm offers a range of equity, fixed-income and alternative investment strategies, including U.S. and international equities, emerging-market investments, credit and other specialized portfolios.

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