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

Key Points

• Royal Bank Of Canada has raised its price target for Artisan Partners Asset Management from $50.00 to $51.00, indicating a potential upside of 12.43% from the current stock price.
• Artisan Partners recently reported earnings of $0.83 per share, surpassing analysts' expectations, with a revenue of $282.80 million for the quarter.
• The stock currently holds an average rating of "Hold" with a price target of $39.30 from various analysts, reflecting mixed sentiments in the market.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) had its price target lifted by Royal Bank Of Canada from $50.00 to $51.00 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 objective indicates a potential upside of 12.43% from the stock's current price.

Several other equities research analysts have also issued reports on the company. Evercore ISI dropped their price objective on Artisan Partners Asset Management from $33.00 to $32.00 and set an "in-line" rating for the company in a research note on Thursday, May 1st. Cowen reissued a "hold" rating on shares of Artisan Partners Asset Management in a research note on Wednesday, May 14th. TD Securities lifted their price objective on Artisan Partners Asset Management from $35.00 to $39.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. TD Cowen dropped their price objective on Artisan Partners Asset Management from $46.00 to $35.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Finally, Wall Street Zen raised Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $39.30.

Artisan Partners Asset Management Stock Performance

Shares of NYSE APAM traded up $0.73 during mid-day trading on Thursday, hitting $45.36. The company had a trading volume of 325,781 shares, compared to its average volume of 582,770. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 12.08 and a beta of 1.70. Artisan Partners Asset Management has a 1 year low of $32.75 and a 1 year high of $49.54. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.51. The stock's 50-day moving average price is $43.82 and its 200-day moving average price is $41.80.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The asset manager reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.01. The company had revenue of $282.80 million during the quarter, compared to analysts' expectations of $269.00 million. Artisan Partners Asset Management had a return on equity of 72.25% and a net margin of 23.87%. The firm's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 earnings per share. On average, sell-side analysts forecast that Artisan Partners Asset Management will post 3.6 earnings per share for the current year.

Insider Activity

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

Institutional Investors Weigh In On Artisan Partners Asset Management

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. grew its stake in shares of Artisan Partners Asset Management by 208.6% in the 4th quarter. Bessemer Group Inc. now owns 574 shares of the asset manager's stock worth $25,000 after buying an additional 388 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of Artisan Partners Asset Management in the 1st quarter worth approximately $33,000. Farther Finance Advisors LLC grew its stake in shares of Artisan Partners Asset Management by 24.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,282 shares of the asset manager's stock worth $57,000 after buying an additional 249 shares during the last quarter. Continuum Advisory LLC purchased a new stake in shares of Artisan Partners Asset Management in the 1st quarter worth approximately $63,000. Finally, Legend Financial Advisors Inc. purchased a new stake in shares of Artisan Partners Asset Management in the 2nd quarter worth approximately $75,000. Institutional investors own 86.45% of the company's stock.

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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