Artisan Partners Asset Management Inc. (NYSE:APAM) Receives Consensus Recommendation of "Reduce" from Brokerages

Key Points

• Broker sentiment is weak: Artisan Partners Asset Management has a consensus analyst rating of "Reduce" from six brokerages, with two sell ratings, three holds, and one buy. The average 1-year price target is $39.25.
• Latest earnings missed estimates: The company reported $0.87 EPS versus expectations of $0.91, while revenue of $303 million was slightly below estimates. Revenue still rose 9.3% year over year.
• Dividend yield remains high: APAM announced a quarterly dividend of $0.77 per share, or $3.08 annually, implying an 8.1% yield. However, the payout ratio is above 100%, at 102.28%.

Artisan Partners Asset Management Inc. (NYSE:APAM - Get Free Report) has earned a consensus rating of "Reduce" from the six brokerages that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $39.25.

A number of brokerages have recently commented on APAM. TD Cowen reaffirmed a "hold" rating on shares of Artisan Partners Asset Management in a research report on Thursday, April 9th. Zacks Research lowered shares of Artisan Partners Asset Management from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 21st. Royal Bank Of Canada cut their price objective on shares of Artisan Partners Asset Management from $48.00 to $43.00 and set an "outperform" rating for the company in a research report on Thursday, April 30th. Evercore set a $37.00 price objective on shares of Artisan Partners Asset Management in a research report on Friday, April 10th. Finally, Weiss Ratings lowered shares of Artisan Partners Asset Management from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, March 20th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Foster Dykema Cabot & Partners LLC acquired a new position in Artisan Partners Asset Management in the third quarter worth about $27,000. Chilton Capital Management LLC acquired a new position in Artisan Partners Asset Management in the third quarter worth about $28,000. Community Bank N.A. acquired a new position in Artisan Partners Asset Management in the third quarter worth about $33,000. Eagle Bay Advisors LLC acquired a new position in Artisan Partners Asset Management in the fourth quarter worth about $32,000. Finally, Triumph Capital Management raised its position in Artisan Partners Asset Management by 112.5% in the fourth quarter. Triumph Capital Management now owns 850 shares of the asset manager's stock worth $35,000 after purchasing an additional 450 shares in the last quarter. Institutional investors and hedge funds own 86.45% of the company's stock.

Artisan Partners Asset Management Stock Down 0.1%

APAM stock opened at $37.99 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.82 and a quick ratio of 0.82. Artisan Partners Asset Management has a 52-week low of $34.99 and a 52-week high of $48.50. The company has a 50-day moving average of $37.23 and a two-hundred day moving average of $40.87. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of 9.62 and a beta of 1.68.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The asset manager reported $0.87 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.04). The company had revenue of $303.00 million for the quarter, compared to analyst estimates of $304.01 million. Artisan Partners Asset Management had a net margin of 23.49% and a return on equity of 72.99%. The firm's quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.83 EPS. As a group, equities research analysts anticipate that Artisan Partners Asset Management will post 3.93 EPS for the current year.

Artisan Partners Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 8.1%. Artisan Partners Asset Management's dividend payout ratio is currently 102.28%.

Artisan Partners Asset Management Company Profile

Artisan Partners Asset Management Inc is a global investment management firm that specializes in active, fundamental research-driven strategies across a range of equity, fixed income and alternative asset classes. Founded in 1994 by Andrew Ziegler, the company has built a reputation for its team-based approach to portfolio construction, emphasizing deep sector expertise and independent analysis. Its product lineup includes U.S. and international equity strategies, global emerging markets, as well as credit and multisector fixed income offerings.

Artisan Partners serves a diverse client base that spans institutional investors, intermediaries and high-net-worth individuals located in North America, Europe and Asia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.