TD Cowen Lowers Artisan Partners Asset Management (NYSE:APAM) Price Target to $43.00

Key Points

• TD Cowen has lowered its price target for Artisan Partners Asset Management from $47.00 to $43.00, indicating a potential downside of 6.12% from the current price, while maintaining a "hold" rating.
• Despite the downgrade from TD Cowen, other analysts have differing views, with Royal Bank Of Canada raising its target from $50.00 to $51.00 and Zacks Research downgrading to a "hold" rating.
• The stock has recently traded at $45.81, and Artisan Partners reported a quarterly EPS of $0.83, slightly above analysts' expectations of $0.82, with a net margin of 23.87% and revenue of $282.80 million.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) had its target price reduced by stock analysts at TD Cowen from $47.00 to $43.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "hold" rating on the asset manager's stock. TD Cowen's price objective would indicate a potential downside of 5.44% from the stock's previous close.

APAM has been the subject of a number of other reports. Evercore ISI boosted their price target on shares of Artisan Partners Asset Management from $43.00 to $45.00 and gave the company an "in-line" rating in a research report on Friday, September 5th. Wall Street Zen upgraded shares of Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Zacks Research lowered shares of Artisan Partners Asset Management from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Finally, Royal Bank Of Canada upped their target price on shares of Artisan Partners Asset Management from $50.00 to $51.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $43.50.

Artisan Partners Asset Management Stock Performance

APAM stock traded down $0.30 during midday trading on Monday, reaching $45.47. 200,860 shares of the company's stock traded hands, compared to its average volume of 558,024. The company has a 50-day moving average price of $46.29 and a two-hundred day moving average price of $42.52. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 0.97. Artisan Partners Asset Management has a 52 week low of $32.75 and a 52 week high of $49.54. The firm has a market capitalization of $3.67 billion, a PE ratio of 12.10 and a beta of 1.71.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The asset manager reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.01. The firm had revenue of $282.80 million during the quarter, compared to analyst estimates of $269.00 million. Artisan Partners Asset Management had a net margin of 23.87% and a return on equity of 71.72%. The business's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.82 EPS. As a group, equities analysts anticipate that Artisan Partners Asset Management will post 3.6 EPS for the current year.

Institutional Trading of Artisan Partners Asset Management

Several institutional investors have recently added to or reduced their stakes in the business. WealthCollab LLC grew its stake in shares of Artisan Partners Asset Management by 17.0% in the 2nd quarter. WealthCollab LLC now owns 1,700 shares of the asset manager's stock worth $75,000 after buying an additional 247 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Artisan Partners Asset Management by 24.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,282 shares of the asset manager's stock worth $57,000 after buying an additional 249 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in shares of Artisan Partners Asset Management by 1.2% in the 2nd quarter. Maryland State Retirement & Pension System now owns 20,698 shares of the asset manager's stock worth $918,000 after buying an additional 251 shares in the last quarter. Guinness Asset Management LTD grew its stake in shares of Artisan Partners Asset Management by 2.4% in the 2nd quarter. Guinness Asset Management LTD now owns 10,917 shares of the asset manager's stock worth $484,000 after buying an additional 253 shares in the last quarter. Finally, Salvus Wealth Management LLC grew its stake in shares of Artisan Partners Asset Management by 5.0% in the 2nd quarter. Salvus Wealth Management LLC now owns 5,554 shares of the asset manager's stock worth $246,000 after buying an additional 263 shares in the last quarter. 86.45% of the stock is currently owned by hedge funds and other 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.