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 - Free Report) had its price objective upped by Royal Bank Of Canada from $50.00 to $51.00 in a research note released on Thursday,Benzinga reports. The firm currently has an outperform rating on the asset manager's stock.

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

Artisan Partners Asset Management Price Performance

APAM stock traded up $1.00 during midday trading on Thursday, hitting $45.84. The company's stock had a trading volume of 29,972 shares, compared to its average volume of 583,220. Artisan Partners Asset Management has a 12 month low of $32.75 and a 12 month high of $49.54. The company has a quick ratio of 0.87, a current ratio of 0.70 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 12.17 and a beta of 1.69. The company has a 50 day moving average of $44.04 and a two-hundred day moving average of $41.87.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The asset manager reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.01. Artisan Partners Asset Management had a return on equity of 71.72% and a net margin of 23.87%. The business had revenue of $282.80 million during the quarter, compared to the consensus estimate of $269.00 million. During the same period in the prior year, the company posted $0.82 EPS. The firm's revenue for the quarter was up 4.4% compared to the same quarter last year. On average, analysts expect that Artisan Partners Asset Management will post 3.6 EPS for the current year.

Artisan Partners Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 6.4%. The ex-dividend date is Friday, August 15th. This is a boost from Artisan Partners Asset Management's previous quarterly dividend of $0.68. Artisan Partners Asset Management's payout ratio is currently 72.34%.

Insider Buying and Selling at Artisan Partners Asset Management

In related news, CFO Charles J. Daley, Jr. sold 15,448 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $40.45, for a total transaction of $624,871.60. Following the sale, the chief financial officer owned 91,363 shares in the company, valued at approximately $3,695,633.35. This represents a 14.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Samuel Bentson Sellers sold 6,801 shares of the stock in a transaction 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 sale, the executive vice president owned 40,529 shares in the company, valued at $1,793,002.96. The trade was a 14.37% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 12.53% of the company's stock.

Institutional Trading of Artisan Partners Asset Management

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. raised its holdings in Artisan Partners Asset Management by 208.6% during the 4th quarter. Bessemer Group Inc. now owns 574 shares of the asset manager's stock valued at $25,000 after buying an additional 388 shares during the period. SVB Wealth LLC purchased a new stake in Artisan Partners Asset Management during the 1st quarter valued at $33,000. Farther Finance Advisors LLC raised its holdings in Artisan Partners Asset Management by 24.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,282 shares of the asset manager's stock valued at $57,000 after buying an additional 249 shares during the period. Continuum Advisory LLC purchased a new stake in Artisan Partners Asset Management in the first quarter worth $63,000. Finally, Legend Financial Advisors Inc. purchased a new stake in Artisan Partners Asset Management in the second quarter worth $75,000. Hedge funds and other 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.