Artisan Partners Asset Management (NYSE:APAM) Stock Breaks Below 200 Day Moving Average - What's Next?

Key Points

• APAM fell below its 200-day moving average, trading as low as $37.90 against the $38.15 average and last changing hands at $38.11.
• Analyst sentiment is cautious: MarketBeat reports a consensus “Reduce” rating and a $34.75 average price target; recent firms issued sell ratings or lowered their targets.
• The company beat quarterly earnings and revenue estimates, while raising its quarterly dividend from $0.80 to $0.88 per share—an annualized $3.52, or a reported 9.2% yield.

Artisan Partners Asset Management Inc. (NYSE:APAM - Get Free Report) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $38.15 and traded as low as $37.90. Artisan Partners Asset Management shares last traded at $38.1120, with a volume of 994,308 shares.

Analyst Ratings Changes

A number of brokerages recently issued reports on APAM. Zacks Research lowered Artisan Partners Asset Management from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 13th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Artisan Partners Asset Management in a research note on Tuesday, September 29th. The Goldman Sachs Group reduced their price target on Artisan Partners Asset Management from $35.00 to $31.00 and set a "sell" rating for the company in a research report on Friday, October 2nd. TD Cowen decreased their price target on Artisan Partners Asset Management from $37.00 to $33.00 and set a "hold" rating for the company in a research note on Monday, October 12th. Finally, Evercore set a $33.00 price target on Artisan Partners Asset Management in a research note on Thursday, October 29th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $34.75.

Artisan Partners Asset Management Trading Down 1.0%

The business's 50 day moving average price is $36.17 and its two-hundred day moving average price is $38.15. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 9.01 and a beta of 1.74.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last announced its earnings results on Tuesday, October 27th. The asset manager reported $1.03 EPS for the quarter, topping the consensus estimate of $0.96 by $0.07. The firm had revenue of $312.52 million for the quarter, compared to analysts' expectations of $307.60 million. Artisan Partners Asset Management had a return on equity of 71.69% and a net margin of 24.54%. The firm's quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.02 earnings per share. Equities analysts forecast that Artisan Partners Asset Management Inc. will post 3.94 earnings per share for the current fiscal year.

Artisan Partners Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 16th will be given a dividend of $0.88 per share. This is a boost from Artisan Partners Asset Management's previous quarterly dividend of $0.80. The ex-dividend date is Monday, November 16th. This represents a $3.52 annualized dividend and a dividend yield of 9.2%. Artisan Partners Asset Management's payout ratio is 75.65%.

Insider Activity at Artisan Partners Asset Management

In other news, EVP Gregory Ramirez sold 7,000 shares of the business's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $42.59, for a total value of $298,130.00. Following the sale, the executive vice president owned 109,194 shares of the company's stock, valued at approximately $4,650,572.46. The trade was a 6.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 11.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in Artisan Partners Asset Management by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,670,380 shares of the asset manager's stock valued at $60,782,000 after acquiring an additional 30,863 shares during the last quarter. Wasatch Advisors LP grew its stake in shares of Artisan Partners Asset Management by 8.4% in the 2nd quarter. Wasatch Advisors LP now owns 1,704,243 shares of the asset manager's stock worth $58,848,000 after purchasing an additional 132,708 shares during the last quarter. Punch & Associates Investment Management Inc. grew its stake in shares of Artisan Partners Asset Management by 25.9% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 551,336 shares of the asset manager's stock worth $20,063,000 after purchasing an additional 113,491 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Artisan Partners Asset Management by 11.0% in the 1st quarter. Bank of America Corp DE now owns 343,520 shares of the asset manager's stock worth $12,501,000 after purchasing an additional 33,921 shares during the last quarter. Finally, Advisors Asset Management Inc. bought a new stake in shares of Artisan Partners Asset Management in the 3rd quarter worth approximately $9,151,000. 86.45% of the stock is owned by institutional investors and hedge funds.

About Artisan Partners Asset Management

Artisan Partners Asset Management is a global investment management firm that provides active investment strategies to institutional and individual investors. The firm manages portfolios through specialized investment teams, each with its own investment approach and research process. Its offerings include equity and fixed-income strategies spanning a range of styles, market sectors and geographies. These strategies are available through vehicles such as mutual funds and separate accounts, serving clients including institutions and financial intermediaries.

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.