Evercore ISI Has Lowered Expectations for Artisan Partners Asset Management (NYSE:APAM) Stock Price

Key Points

• Evercore ISI lowered its target price for Artisan Partners Asset Management from $45.00 to $43.00, indicating a potential downside of 1.44% from the current stock price.
• Analysts have mixed ratings for Artisan Partners; Zacks downgraded the stock to "hold," while Royal Bank of Canada upgraded it to "outperform."
• Institutional investors hold 86.45% of Artisan Partners' stock, with significant increases in positions reported by Vaughan Nelson Investment Management and Punch & Associates Investment Management.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) had its target price decreased by Evercore ISI from $45.00 to $43.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "in-line" rating on the asset manager's stock. Evercore ISI's target price would suggest a potential downside of 1.44% from the stock's current price.

APAM has been the subject of several other reports. Zacks Research downgraded Artisan Partners Asset Management from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. TD Cowen reduced their target price on Artisan Partners Asset Management from $47.00 to $43.00 and set a "hold" rating for the company in a research note on Monday, September 15th. Royal Bank Of Canada raised their target price on Artisan Partners Asset Management from $50.00 to $51.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Artisan Partners Asset Management in a research report on Saturday, September 27th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $44.00.

Artisan Partners Asset Management Trading Down 0.4%

NYSE APAM traded down $0.19 on Thursday, reaching $43.63. The company had a trading volume of 63,688 shares, compared to its average volume of 546,262. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 11.61 and a beta of 1.72. Artisan Partners Asset Management has a fifty-two week low of $32.75 and a fifty-two week high of $49.54. The business has a 50 day moving average of $45.65 and a two-hundred day moving average of $42.83. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.97 and a quick ratio of 0.97.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in APAM. Vaughan Nelson Investment Management L.P. grew its position in shares of Artisan Partners Asset Management by 25.0% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,464,096 shares of the asset manager's stock valued at $109,233,000 after purchasing an additional 493,300 shares in the last quarter. Nuveen LLC purchased a new position in Artisan Partners Asset Management in the first quarter worth $17,671,000. Punch & Associates Investment Management Inc. grew its position in Artisan Partners Asset Management by 3,362.7% in the first quarter. Punch & Associates Investment Management Inc. now owns 437,067 shares of the asset manager's stock worth $17,089,000 after acquiring an additional 424,445 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Artisan Partners Asset Management by 6.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,940,562 shares of the asset manager's stock worth $114,976,000 after acquiring an additional 167,930 shares in the last quarter. Finally, Invesco Ltd. grew its position in Artisan Partners Asset Management by 36.0% in the first quarter. Invesco Ltd. now owns 621,491 shares of the asset manager's stock worth $24,300,000 after acquiring an additional 164,612 shares in the last quarter. 86.45% of the stock is currently owned by hedge funds and other 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.

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