Artisan Partners Asset Management Inc. (NYSE:APAM) Receives $39.30 Average Price Target from Analysts

Key Points

• Artisan Partners Asset Management has received an average rating of "Hold" from six brokerages, with one sell, four hold, and one buy recommendation.
• The company recently reported a quarterly EPS of $0.83, exceeding estimates, with a revenue of $282.80 million, showing a 4.4% increase year-over-year.
• Artisan Partners is increasing its quarterly dividend to $0.73, resulting in a dividend yield of 6.3%, marking a rise from its previous quarterly dividend of $0.68.

Shares of Artisan Partners Asset Management Inc. (NYSE:APAM - Get Free Report) have been assigned a consensus recommendation of "Hold" from the six research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $39.30.

Several equities analysts have recently commented on APAM shares. Evercore ISI cut their price target on Artisan Partners Asset Management from $33.00 to $32.00 and set an "in-line" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen raised Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. TD Securities lifted their target price on Artisan Partners Asset Management from $35.00 to $39.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Cowen reaffirmed a "hold" rating on shares of Artisan Partners Asset Management in a report on Wednesday, May 14th. Finally, Royal Bank Of Canada boosted their price target on Artisan Partners Asset Management from $50.00 to $51.00 and gave the company an "outperform" rating in a report on Thursday, July 31st.

Insider Buying and Selling at Artisan Partners Asset Management

In other Artisan Partners Asset Management news, EVP Samuel Bentson Sellers sold 6,801 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $44.24, for a total value of $300,876.24. Following the completion of the sale, the executive vice president directly owned 40,529 shares of the company's stock, valued at $1,793,002.96. This trade represents a 14.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Charles J. Daley, Jr. sold 15,448 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $40.45, for a total value of $624,871.60. Following the completion of the sale, the chief financial officer directly owned 91,363 shares of the company's stock, valued at $3,695,633.35. This trade represents a 14.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.53% of the company's stock.

Institutional Trading of Artisan Partners Asset Management

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its holdings in Artisan Partners Asset Management by 24.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,282 shares of the asset manager's stock valued at $57,000 after acquiring an additional 249 shares during the period. Maryland State Retirement & Pension System boosted its holdings in Artisan Partners Asset Management by 1.2% during the 2nd quarter. Maryland State Retirement & Pension System now owns 20,698 shares of the asset manager's stock valued at $918,000 after acquiring an additional 251 shares during the period. Guinness Asset Management LTD boosted its holdings in Artisan Partners Asset Management by 2.4% during the 2nd quarter. Guinness Asset Management LTD now owns 10,917 shares of the asset manager's stock valued at $484,000 after acquiring an additional 253 shares during the period. Salvus Wealth Management LLC boosted its holdings in Artisan Partners Asset Management by 5.0% during the 2nd quarter. Salvus Wealth Management LLC now owns 5,554 shares of the asset manager's stock valued at $246,000 after acquiring an additional 263 shares during the period. Finally, Yousif Capital Management LLC boosted its holdings in Artisan Partners Asset Management by 1.0% during the 2nd quarter. Yousif Capital Management LLC now owns 26,077 shares of the asset manager's stock valued at $1,156,000 after acquiring an additional 265 shares during the period. 86.45% of the stock is owned by institutional investors and hedge funds.

Artisan Partners Asset Management Trading Up 1.3%

Shares of NYSE:APAM traded up $0.61 on Friday, hitting $46.71. 535,894 shares of the company's stock were exchanged, compared to its average volume of 585,706. Artisan Partners Asset Management has a 12 month low of $32.75 and a 12 month high of $49.54. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 12.42 and a beta of 1.69. The business's 50 day simple moving average is $44.59 and its two-hundred day simple moving average is $41.96. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.97 and a quick ratio of 0.97.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last released its earnings results on Tuesday, July 29th. The asset manager reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.01. Artisan Partners Asset Management had a return on equity of 71.72% and a net margin of 23.87%. The business had revenue of $282.80 million during the quarter, compared to the consensus estimate of $269.00 million. During the same period last year, the company earned $0.82 earnings per share. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. Analysts anticipate that Artisan Partners Asset Management will post 3.6 EPS for the current fiscal year.

Artisan Partners Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.73 per share. This is a boost from Artisan Partners Asset Management's previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.92 annualized dividend and a yield of 6.3%. Artisan Partners Asset Management's dividend payout ratio is presently 77.66%.

Artisan Partners Asset Management Company Profile

Artisan Partners Asset Management Inc is publicly owned investment manager. It provides its services to pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. funds, as well as mutual funds, non-U.S. funds and collective trusts.