TD Cowen Has Lowered Expectations for Artisan Partners Asset Management (NYSE:APAM) Stock Price

Key Points

• TD Cowen cut its price target for Artisan Partners Asset Management from $37 to $33 and maintained a “hold” rating, implying roughly 2.5% upside from the prior close.
• Analyst sentiment remains cautious: APAM has an average “Hold” rating and a consensus price target of $35.25, with ratings ranging from Buy to Sell.
• APAM shares fell to $32.19, near their 52-week low, despite the company exceeding quarterly earnings and revenue estimates; institutional investors own 86.45% of the stock.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) had its price objective reduced by research analysts at TD Cowen from $37.00 to $33.00 in a report issued on Monday, Benzinga reports. The firm currently has a "hold" rating on the asset manager's stock. TD Cowen's price target indicates a potential upside of 2.51% from the stock's previous close.

Several other research firms also recently issued reports on APAM. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Artisan Partners Asset Management in a research note on Tuesday, September 29th. The Goldman Sachs Group decreased 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 report on Friday, October 2nd. Royal Bank Of Canada lowered their price objective on shares of Artisan Partners Asset Management from $45.00 to $43.00 and set an "outperform" rating on the stock in a research note on Friday. Evercore set a $34.00 target price on shares of Artisan Partners Asset Management in a research report on Friday. Finally, Zacks Research upgraded shares of Artisan Partners Asset Management from a "strong sell" rating to a "hold" rating in a research report on Monday, September 14th. 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. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $35.25.

Artisan Partners Asset Management Price Performance

NYSE APAM traded down $1.27 during mid-day trading on Monday, hitting $32.19. The stock had a trading volume of 209,489 shares, compared to its average volume of 805,813. The company has a 50 day simple moving average of $39.51 and a 200 day simple moving average of $37.88. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 7.79 and a beta of 1.70. Artisan Partners Asset Management has a 52-week low of $31.78 and a 52-week high of $46.53. 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 posted its earnings results on Tuesday, July 28th. The asset manager reported $0.94 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.03. The company had revenue of $307.91 million for the quarter, compared to the consensus estimate of $301.32 million. Artisan Partners Asset Management had a return on equity of 73.11% and a net margin of 24.08%. Artisan Partners Asset Management's quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.83 earnings per share. Equities analysts forecast that Artisan Partners Asset Management will post 3.86 EPS for the current fiscal year.

Insider Activity at Artisan Partners Asset Management

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

Institutional Investors Weigh In On Artisan Partners Asset Management

Several hedge funds have recently modified their holdings of APAM. Louisiana State Employees Retirement System acquired a new position in Artisan Partners Asset Management during the first quarter worth approximately $1,135,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Artisan Partners Asset Management during the second quarter worth approximately $996,000. Dimensional Fund Advisors LP boosted its holdings in shares of Artisan Partners Asset Management by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,670,380 shares of the asset manager's stock valued at $60,782,000 after purchasing an additional 30,863 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Artisan Partners Asset Management by 39.8% in the 2nd quarter. Squarepoint Ops LLC now owns 66,967 shares of the asset manager's stock valued at $2,312,000 after purchasing an additional 19,069 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Artisan Partners Asset Management by 11.0% in the 1st 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. 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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