Artisan Partners Asset Management Inc. (NYSE:APAM) Receives $39.10 Average Target Price from Brokerages

Artisan Partners Asset Management Inc. (NYSE:APAM - Get Free Report) has earned a consensus rating of "Hold" from the six research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $39.10.

A number of equities analysts have recently issued reports on APAM shares. Wall Street Zen upgraded Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Cowen restated a "hold" rating on shares of Artisan Partners Asset Management in a research note on Wednesday, May 14th. TD Securities raised their price target on Artisan Partners Asset Management from $35.00 to $39.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. TD Cowen dropped their price target on 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. Finally, Evercore ISI dropped 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.

Artisan Partners Asset Management Stock Up 0.5%

APAM traded up $0.23 during trading on Tuesday, hitting $45.64. 62,833 shares of the company's stock traded hands, compared to its average volume of 504,195. The company's 50 day simple moving average is $43.05 and its two-hundred day simple moving average is $41.52. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.51. 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 $3.68 billion, a price-to-earnings ratio of 12.59 and a beta of 1.70.

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

Artisan Partners Asset Management Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a $0.68 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.72 dividend on an annualized basis and a yield of 5.96%. Artisan Partners Asset Management's dividend payout ratio is currently 75.14%.

Insiders Place Their Bets

In related 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 transaction, the executive vice president directly owned 40,529 shares of the company's stock, valued at approximately $1,793,002.96. This trade represents a 14.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Charles J. Daley, Jr. sold 15,448 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $40.45, for a total value of $624,871.60. Following the sale, the chief financial officer directly owned 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. 12.53% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Artisan Partners Asset Management

Institutional investors and hedge funds have recently bought and sold shares of the business. Bessemer Group Inc. raised its holdings in Artisan Partners Asset Management by 208.6% during the fourth quarter. Bessemer Group Inc. now owns 574 shares of the asset manager's stock valued at $25,000 after acquiring an additional 388 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Artisan Partners Asset Management by 110.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 628 shares of the asset manager's stock valued at $27,000 after acquiring an additional 330 shares during the period. SVB Wealth LLC bought a new stake in Artisan Partners Asset Management during the first quarter valued at about $33,000. Farther Finance Advisors LLC raised its holdings in Artisan Partners Asset Management by 24.1% during the second 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. Finally, Continuum Advisory LLC bought a new stake in Artisan Partners Asset Management during the first quarter valued at about $63,000. 86.45% of the stock is owned by institutional investors.

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.