Artisan Partners Asset Management (NYSE:APAM) Given New $43.00 Price Target at TD Cowen

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 equities research analysts at TD Cowen from $47.00 to $43.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "hold" rating on the asset manager's stock. TD Cowen's price target indicates a potential downside of 6.12% from the company's current price.

Several other research analysts have also issued reports on APAM. Royal Bank Of Canada increased their price target 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. Evercore ISI boosted their target price on shares of Artisan Partners Asset Management from $43.00 to $45.00 and gave the company an "in-line" rating in a research note on Friday, September 5th. Zacks Research downgraded shares of Artisan Partners Asset Management from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Finally, Wall Street Zen upgraded shares of Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Artisan Partners Asset Management has a consensus rating of "Hold" and an average target price of $43.50.

Artisan Partners Asset Management Stock Performance

Shares of NYSE:APAM traded down $0.54 during trading on Monday, reaching $45.81. The stock had a trading volume of 59,890 shares, compared to its average volume of 560,526. The stock has a fifty day simple moving average of $46.44 and a two-hundred day simple moving average of $42.43. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 12.18 and a beta of 1.71. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.48. Artisan Partners Asset Management has a 52 week low of $32.75 and a 52 week high of $49.54.

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

Institutional Trading of Artisan Partners Asset Management

Institutional investors and hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Artisan Partners Asset Management by 12.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,100 shares of the asset manager's stock valued at $2,234,000 after acquiring an additional 6,508 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new position in shares of Artisan Partners Asset Management in the 1st quarter valued at approximately $275,000. Drake & Associates LLC grew its position in shares of Artisan Partners Asset Management by 31.0% in the 1st quarter. Drake & Associates LLC now owns 40,174 shares of the asset manager's stock valued at $1,571,000 after purchasing an additional 9,518 shares during the period. Squarepoint Ops LLC grew its position in shares of Artisan Partners Asset Management by 80.2% in the 4th quarter. Squarepoint Ops LLC now owns 19,397 shares of the asset manager's stock valued at $835,000 after purchasing an additional 8,633 shares during the period. Finally, Twelve Points Wealth Management LLC grew its position in shares of Artisan Partners Asset Management by 7.6% in the 1st quarter. Twelve Points Wealth Management LLC now owns 77,190 shares of the asset manager's stock valued at $3,018,000 after purchasing an additional 5,478 shares during the period. 86.45% of the stock is owned by institutional investors.

About Artisan Partners Asset Management

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.