Royal Bank Of Canada Has Lowered Expectations for Artisan Partners Asset Management (NYSE:APAM) Stock Price

Key Points

• Royal Bank of Canada lowered Artisan Partners Asset Management’s price target from $43 to $42 while maintaining an “outperform” rating, implying roughly 13.2% upside from the reported $37.10 share price.
• Analyst sentiment remains mixed to negative: MarketBeat shows an average “Reduce” rating and a consensus price target of $34.75, with ratings split among one Buy, two Holds, and two Sells.
• Artisan Partners exceeded quarterly expectations, reporting $1.03 in earnings per share versus the $0.96 consensus and $312.52 million in revenue; revenue rose 3.7% year over year.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) had its price objective lowered by analysts at Royal Bank Of Canada from $43.00 to $42.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an "outperform" rating on the asset manager's stock. Royal Bank Of Canada's price objective would indicate a potential upside of 13.21% from the stock's current price.

A number of other brokerages also recently weighed in on APAM. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Artisan Partners Asset Management in a research note on Tuesday, September 29th. Evercore set a $33.00 target price on Artisan Partners Asset Management in a research note on Thursday. TD Cowen lowered their price target on 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. The Goldman Sachs Group reduced their price target on shares of Artisan Partners Asset Management from $35.00 to $31.00 and set a "sell" rating for the company in a research note on Friday, October 2nd. Finally, Zacks Research lowered shares of Artisan Partners Asset Management from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 13th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $34.75.

Artisan Partners Asset Management Price Performance

Shares of NYSE APAM traded up $0.71 during trading hours on Friday, reaching $37.10. 146,329 shares of the stock traded hands, compared to its average volume of 834,035. The company has a market capitalization of $3.01 billion, a P/E ratio of 8.76 and a beta of 1.70. The company's 50-day simple moving average is $36.93 and its two-hundred day simple moving average is $38.39. The company has a quick ratio of 0.90, a current ratio of 0.86 and a debt-to-equity ratio of 0.39. Artisan Partners Asset Management has a 52-week low of $30.86 and a 52-week high of $46.53.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last posted its earnings results on Tuesday, October 27th. The asset manager reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.07. The company had revenue of $312.52 million during the quarter, compared to analyst estimates of $307.60 million. Artisan Partners Asset Management had a net margin of 24.54% and a return on equity of 71.69%. Artisan Partners Asset Management's revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.02 earnings per share. Equities research analysts forecast that Artisan Partners Asset Management will post 3.79 EPS for the current year.

Insider Buying and Selling at Artisan Partners Asset Management

In other Artisan Partners Asset Management news, EVP Gregory Ramirez sold 7,000 shares of the 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 sale, the executive vice president owned 109,194 shares in the company, valued at approximately $4,650,572.46. This represents a 6.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 11.30% of the company's stock.

Institutional Trading of Artisan Partners Asset Management

Hedge funds have recently bought and sold shares of the stock. Louisiana State Employees Retirement System purchased a new stake in Artisan Partners Asset Management during the 1st quarter valued at approximately $1,135,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Artisan Partners Asset Management in the second quarter valued at approximately $996,000. Dimensional Fund Advisors LP raised its holdings in shares of Artisan Partners Asset Management by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,670,380 shares of the asset manager's stock worth $60,782,000 after acquiring an additional 30,863 shares during the last quarter. Squarepoint Ops LLC grew its holdings in shares of Artisan Partners Asset Management by 39.8% during the second quarter. Squarepoint Ops LLC now owns 66,967 shares of the asset manager's stock worth $2,312,000 after buying an additional 19,069 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Artisan Partners Asset Management by 11.0% in the first quarter. Bank of America Corp DE now owns 343,520 shares of the asset manager's stock valued at $12,501,000 after purchasing an additional 33,921 shares during the last quarter. Hedge funds and other institutional investors own 86.45% of the company's stock.

Artisan Partners Asset Management Company Profile

Artisan Partners Asset Management Inc is an investment management company that provides actively managed investment strategies to institutional and intermediary clients, as well as certain private wealth investors. The company operates through Artisan Partners, L.P. and related entities, offering investment expertise across equity, fixed-income and alternative asset classes.

Its products and services include strategies focused on U.S. and international equities, emerging markets, non-U.S.

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