Artisan Partners Asset Management (NYSE:APAM) Reaches New 12-Month Low - Time to Sell?

Key Points

• Artisan Partners Asset Management shares hit a new 52-week low, trading near $33.80 and below both their 50-day and 200-day moving averages.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating and an average price target of $37.25, modestly above the current price.
• The company reported better-than-expected quarterly earnings and revenue, while raising its quarterly dividend to $0.80 per share, resulting in an annualized yield of approximately 9.4%.

Shares of Artisan Partners Asset Management Inc. (NYSE:APAM - Get Free Report) reached a new 52-week low during trading on Monday. The company traded as low as $33.80 and last traded at $33.7340, with a volume of 157565 shares. The stock had previously closed at $34.88.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Evercore set a $36.00 target price on shares of Artisan Partners Asset Management in a report on Friday, July 10th. Weiss Ratings reissued a "hold (c)" rating on shares of Artisan Partners Asset Management in a research report on Tuesday, September 29th. Royal Bank Of Canada upped their price target on shares of Artisan Partners Asset Management from $44.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, July 30th. TD Cowen reaffirmed a "hold" rating and set a $37.00 target price on shares of Artisan Partners Asset Management in a report on Friday, September 11th. Finally, Zacks Research raised shares of Artisan Partners Asset Management from a "strong sell" rating to a "hold" rating in a report on Monday, September 14th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $37.25.

Artisan Partners Asset Management Price Performance

The company's 50-day simple moving average is $40.11 and its 200 day simple moving average is $37.95. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market cap of $2.77 billion, a PE ratio of 8.28 and a beta of 1.70.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The asset manager reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.03. The business had revenue of $307.91 million during the quarter, compared to analysts' expectations of $301.32 million. Artisan Partners Asset Management had a return on equity of 73.11% and a net margin of 24.08%.The business's quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 EPS. On average, sell-side analysts predict that Artisan Partners Asset Management Inc. will post 3.91 earnings per share for the current fiscal year.

Artisan Partners Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 17th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 9.4%. This is a boost from Artisan Partners Asset Management's previous quarterly dividend of $0.77. The ex-dividend date was Monday, August 17th. Artisan Partners Asset Management's dividend payout ratio (DPR) is currently 77.67%.

Insider Activity

In other Artisan Partners Asset Management news, EVP Gregory Ramirez sold 7,000 shares of the company's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $42.59, for a total value of $298,130.00. Following the completion of the transaction, the executive vice president directly owned 109,194 shares of the company's stock, valued at $4,650,572.46. This represents a 6.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 11.30% of the company's stock.

Institutional Trading of Artisan Partners Asset Management

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Trust Co. of Vermont purchased a new position in Artisan Partners Asset Management in the second quarter valued at about $28,000. Nykredit A S acquired a new position in shares of Artisan Partners Asset Management in the 2nd quarter valued at approximately $40,000. Highland Investment Advisors LLC purchased a new position in shares of Artisan Partners Asset Management during the 2nd quarter valued at approximately $51,000. Public Employees Retirement System of Ohio purchased a new position in shares of Artisan Partners Asset Management during the 2nd quarter valued at approximately $52,000. Finally, Versant Capital Management Inc grew its position in shares of Artisan Partners Asset Management by 51.0% during the second quarter. Versant Capital Management Inc now owns 1,658 shares of the asset manager's stock worth $57,000 after buying an additional 560 shares in the last quarter. 86.45% of the stock is owned by hedge funds and other institutional investors.

About Artisan Partners Asset Management

Artisan Partners Asset Management, Inc NYSE: APAM is a global investment management firm that provides active investment strategies to institutional investors, financial intermediaries and private clients. The company operates through affiliated investment teams with distinct approaches, investment philosophies and areas of expertise.

Artisan Partners offers a range of equity, fixed-income and alternative investment strategies. Its products and services include separately managed accounts, mutual funds, collective investment trusts and other investment vehicles designed for institutions, wealth managers and individual investors.

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.