Royal Bank Of Canada Issues Positive Forecast for Artisan Partners Asset Management (NYSE:APAM) Stock Price

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) had its price objective boosted by equities research analysts at Royal Bank Of Canada from $44.00 to $50.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the asset manager's stock. Royal Bank Of Canada's price target suggests a potential upside of 5.73% from the stock's previous close.

Several other research analysts have also recently commented on APAM. Evercore ISI lowered their target price on shares of Artisan Partners Asset Management from $33.00 to $32.00 and set an "in-line" rating on the stock in a report on Thursday, May 1st. Cowen reaffirmed a "hold" rating on shares of Artisan Partners Asset Management in a report on Wednesday, May 14th. TD Cowen lowered their target price on shares of Artisan Partners Asset Management from $46.00 to $35.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. TD Securities raised their target price on shares of Artisan Partners Asset Management from $35.00 to $39.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Finally, Wall Street Zen raised shares of Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $39.10.

Artisan Partners Asset Management Trading Up 1.4%

Shares of APAM stock opened at $47.29 on Thursday. The firm has a 50 day moving average price of $42.47 and a two-hundred day moving average price of $41.46. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $3.81 billion, a PE ratio of 13.06 and a beta of 1.70. Artisan Partners Asset Management has a 12-month low of $32.75 and a 12-month high of $49.54.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The asset manager reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. The firm had revenue of $277.10 million during the quarter, compared to the consensus estimate of $281.15 million. Artisan Partners Asset Management had a net margin of 23.24% and a return on equity of 73.48%. The business's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the business posted $0.76 earnings per share. As a group, analysts predict that Artisan Partners Asset Management will post 3.6 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Samuel Bentson Sellers sold 6,801 shares of Artisan Partners Asset Management stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $44.24, for a total value of $300,876.24. Following the transaction, the executive vice president directly owned 40,529 shares of the company's stock, valued at $1,793,002.96. This trade represents a 14.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Charles J. Daley, Jr. sold 15,448 shares of Artisan Partners Asset Management stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $40.45, for a total transaction of $624,871.60. Following the completion of the transaction, the chief financial officer directly owned 91,363 shares in the company, valued at $3,695,633.35. This trade represents a 14.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 12.53% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in APAM. Bank of Montreal Can grew its stake in shares of Artisan Partners Asset Management by 40.2% during the fourth quarter. Bank of Montreal Can now owns 15,646 shares of the asset manager's stock worth $674,000 after buying an additional 4,485 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Artisan Partners Asset Management by 12.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,100 shares of the asset manager's stock worth $2,234,000 after buying an additional 6,508 shares during the last quarter. First Citizens Bank & Trust Co. bought a new stake in shares of Artisan Partners Asset Management during the first quarter worth $275,000. Drake & Associates LLC grew its stake in shares of Artisan Partners Asset Management by 31.0% during the first quarter. Drake & Associates LLC now owns 40,174 shares of the asset manager's stock worth $1,571,000 after buying an additional 9,518 shares during the last quarter. Finally, Squarepoint Ops LLC grew its stake in shares of Artisan Partners Asset Management by 80.2% during the fourth quarter. Squarepoint Ops LLC now owns 19,397 shares of the asset manager's stock worth $835,000 after buying an additional 8,633 shares during the last quarter. 86.45% of the stock is owned by institutional investors.

Artisan Partners Asset Management Company Profile

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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