Brokerages Set Artisan Partners Asset Management Inc. (NYSE:APAM) Target Price at $37.90

Shares of Artisan Partners Asset Management Inc. (NYSE:APAM - Get Free Report) have earned an average recommendation of "Hold" from the six analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $37.90.

A number of research analysts recently issued reports on APAM shares. TD Cowen lowered their target price on shares of Artisan Partners Asset Management from $46.00 to $35.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Cowen reaffirmed a "hold" rating on shares of Artisan Partners Asset Management in a report on Wednesday, May 14th. Wall Street Zen raised shares of Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Royal Bank Of Canada raised their price objective on shares of Artisan Partners Asset Management from $43.00 to $44.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Finally, TD Securities raised their price objective on shares of Artisan Partners Asset Management from $35.00 to $39.00 and gave the stock a "hold" rating in a report on Thursday, May 1st.

Insider Transactions at Artisan Partners Asset Management

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

Hedge Funds Weigh In On Artisan Partners Asset Management

Several large investors have recently modified their holdings of the stock. Voya Investment Management LLC grew its position in Artisan Partners Asset Management by 35.9% in the 1st quarter. Voya Investment Management LLC now owns 64,198 shares of the asset manager's stock valued at $2,510,000 after acquiring an additional 16,971 shares during the last quarter. Rhumbline Advisers grew its position in shares of Artisan Partners Asset Management by 1.0% during the 1st quarter. Rhumbline Advisers now owns 184,079 shares of the asset manager's stock worth $7,197,000 after buying an additional 1,779 shares in the last quarter. Strs Ohio bought a new position in shares of Artisan Partners Asset Management during the 1st quarter worth $888,000. Belpointe Asset Management LLC grew its position in shares of Artisan Partners Asset Management by 7.7% during the 1st quarter. Belpointe Asset Management LLC now owns 6,541 shares of the asset manager's stock worth $256,000 after buying an additional 466 shares in the last quarter. Finally, Intech Investment Management LLC grew its position in shares of Artisan Partners Asset Management by 46.8% during the 1st quarter. Intech Investment Management LLC now owns 30,184 shares of the asset manager's stock worth $1,180,000 after buying an additional 9,629 shares in the last quarter. Institutional investors own 86.45% of the company's stock.

Artisan Partners Asset Management Stock Up 0.1%

Shares of NYSE:APAM traded up $0.05 during midday trading on Friday, hitting $42.76. 548,499 shares of the company's stock traded hands, compared to its average volume of 503,287. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $3.45 billion, a PE ratio of 11.81 and a beta of 1.70. The firm's fifty day moving average price is $40.20 and its two-hundred day moving average price is $41.46. Artisan Partners Asset Management has a twelve month low of $32.75 and a twelve month high of $49.54.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last issued its earnings results on Tuesday, April 29th. The asset manager reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.07. The business had revenue of $277.10 million for the quarter, compared to analyst estimates of $281.15 million. Artisan Partners Asset Management had a net margin of 23.24% and a return on equity of 73.48%. The company's revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.76 EPS. On average, equities research analysts anticipate that Artisan Partners Asset Management will post 3.6 EPS for the current fiscal year.

Artisan Partners Asset Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 6.36%. The ex-dividend date was Friday, May 16th. Artisan Partners Asset Management's dividend payout ratio is 75.14%.

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.