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Artisan Partners Asset Management's (APAM) "Buy (B-)" Rating Reiterated at Weiss Ratings

Artisan Partners Asset Management logo with Finance background

Key Points

  • Weiss Ratings has reaffirmed a "buy (B-)" rating for Artisan Partners Asset Management (APAM), indicating confidence in the firm's stock performance.
  • Artisan Partners' stock price recently traded up to $44.21, with an average target price set at $44.00, reflecting a mix of ratings from various analysts.
  • The asset manager reported a 4.4% increase in quarterly revenue year-over-year, with earnings per share of $0.83, surpassing expectations.
  • Five stocks to consider instead of Artisan Partners Asset Management.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report)'s stock had its "buy (b-)" rating reaffirmed by investment analysts at Weiss Ratings in a note issued to investors on Tuesday,Weiss Ratings reports.

Several other research analysts have also recently commented on the company. Evercore ISI lowered their target price on Artisan Partners Asset Management from $45.00 to $43.00 and set an "in-line" rating for the company in a research note on Thursday, October 9th. Zacks Research downgraded Artisan Partners Asset Management from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Royal Bank Of Canada boosted their target price on Artisan Partners Asset Management from $50.00 to $51.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, TD Cowen dropped their target price on Artisan Partners Asset Management from $47.00 to $43.00 and set a "hold" rating on the stock in a research report on Monday, September 15th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $44.00.

View Our Latest Report on APAM

Artisan Partners Asset Management Trading Up 1.9%

APAM stock traded up $0.81 during midday trading on Tuesday, hitting $44.21. 76,217 shares of the company's stock were exchanged, compared to its average volume of 544,067. The business has a 50-day simple moving average of $45.51 and a two-hundred day simple moving average of $42.92. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $3.57 billion, a PE ratio of 11.73 and a beta of 1.72. Artisan Partners Asset Management has a 1-year low of $32.75 and a 1-year high of $49.54.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last posted its earnings results on Tuesday, July 29th. The asset manager reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.01. Artisan Partners Asset Management had a return on equity of 71.72% and a net margin of 23.87%.The company had revenue of $282.80 million during the quarter, compared to analysts' expectations of $269.00 million. During the same quarter last year, the firm earned $0.82 earnings per share. The firm's quarterly revenue was up 4.4% compared to the same quarter last year. On average, sell-side analysts predict that Artisan Partners Asset Management will post 3.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. SVB Wealth LLC purchased a new position in shares of Artisan Partners Asset Management in the 1st quarter worth $33,000. Carolina Wealth Advisors LLC acquired a new stake in Artisan Partners Asset Management in the 3rd quarter valued at $55,000. Atlantic Union Bankshares Corp acquired a new stake in Artisan Partners Asset Management in the 2nd quarter valued at $57,000. Farther Finance Advisors LLC increased its holdings in 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 valued at $57,000 after purchasing an additional 249 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Artisan Partners Asset Management by 31.4% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,465 shares of the asset manager's stock valued at $65,000 after purchasing an additional 350 shares in the last quarter. 86.45% of the stock is owned by hedge funds and other institutional investors.

About Artisan Partners Asset Management

(Get Free Report)

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.

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Analyst Recommendations for Artisan Partners Asset Management (NYSE:APAM)

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