Artisan Partners Asset Management (NYSE:APAM) Stock Falls 5.4% - Should You Sell?

Key Points

• APAM shares fell 5.4% to about $38.05, while trading volume was 88% below its average.
• Analysts’ consensus rating is “Reduce,” with an average price target of $34.75; ratings include one Buy, three Holds, and two Sells.
• The company beat quarterly earnings and revenue estimates, and raised its quarterly dividend from $0.80 to $0.88, equivalent to a stated annualized yield of 9.1%.

Artisan Partners Asset Management Inc. (NYSE:APAM - Get Free Report)'s share price dropped 5.4% during trading on Wednesday. The company traded as low as $38.10 and last traded at $38.0460. Approximately 99,649 shares traded hands during trading, a decline of 88% from the average daily volume of 855,196 shares. The stock had previously closed at $40.21.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on APAM. Weiss Ratings reissued a "hold (c)" rating on shares of Artisan Partners Asset Management in a research note on Tuesday, September 29th. Evercore set a $33.00 price target on shares of Artisan Partners Asset Management in a research note on Thursday, October 29th. TD Cowen lowered their price target on shares of Artisan Partners Asset Management from $37.00 to $33.00 and set a "hold" rating for the company in a report on Monday, October 12th. Royal Bank Of Canada cut their price objective on shares of Artisan Partners Asset Management from $43.00 to $42.00 and set an "outperform" rating for the company in a research report on Friday, October 30th. Finally, Zacks Research downgraded shares of Artisan Partners Asset Management from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 13th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $34.75.

Artisan Partners Asset Management Stock Performance

The firm has a market cap of $3.15 billion, a PE ratio of 9.16 and a beta of 1.74. The stock has a 50-day moving average price of $36.30 and a 200 day moving average price of $38.20. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.96 and a quick ratio of 0.96.

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

Artisan Partners Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 16th will be given a $0.88 dividend. This is a boost from Artisan Partners Asset Management's previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 9.1%. The ex-dividend date of this dividend is Monday, November 16th. Artisan Partners Asset Management's dividend payout ratio is 75.65%.

Insider Transactions at Artisan Partners Asset Management

In related news, EVP Gregory Ramirez sold 7,000 shares of the business's stock in a transaction that occurred on 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 sale, the executive vice president directly owned 109,194 shares in the company, valued at approximately $4,650,572.46. The trade was a 6.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 11.30% of the company's stock.

Hedge Funds Weigh In On Artisan Partners Asset Management

A number of hedge funds have recently made changes to their positions in the stock. Edgestream Partners L.P. acquired a new stake in shares of Artisan Partners Asset Management during the 3rd quarter worth $213,000. Intech Investment Management LLC boosted its holdings in Artisan Partners Asset Management by 14.1% in the third quarter. Intech Investment Management LLC now owns 15,659 shares of the asset manager's stock valued at $566,000 after acquiring an additional 1,941 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Artisan Partners Asset Management by 4.2% in the third quarter. Russell Investments Group Ltd. now owns 40,553 shares of the asset manager's stock valued at $1,466,000 after acquiring an additional 1,650 shares during the last quarter. Maryland State Retirement & Pension System grew its position in Artisan Partners Asset Management by 54.0% during the third quarter. Maryland State Retirement & Pension System now owns 16,008 shares of the asset manager's stock valued at $578,000 after acquiring an additional 5,611 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in Artisan Partners Asset Management by 9.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 13,275 shares of the asset manager's stock valued at $481,000 after acquiring an additional 1,194 shares during the period. Institutional investors and hedge funds own 86.45% of the company's stock.

Artisan Partners Asset Management Company Profile

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.

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