Artisan Partners Asset Management (NYSE:APAM) Downgraded to Hold Rating by Zacks Research

Artisan Partners Asset Management (NYSE:APAM) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Several other analysts have also recently issued reports on APAM. Cowen reiterated a “hold” rating on shares of Artisan Partners Asset Management in a research report on Wednesday. Evercore ISI increased their price objective on shares of Artisan Partners Asset Management from $43.00 to $44.00 and gave the company an “in-line” rating in a report on Thursday, October 30th. TD Cowen lowered their target price on shares of Artisan Partners Asset Management from $47.00 to $43.00 and set a “hold” rating on the stock in a report on Monday, September 15th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Artisan Partners Asset Management in a research report on Monday, December 1st. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Artisan Partners Asset Management currently has an average rating of “Hold” and an average price target of $44.25.

Artisan Partners Asset Management Stock Down 1.4%

Shares of APAM stock opened at $41.05 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.02 and a quick ratio of 1.02. Artisan Partners Asset Management has a one year low of $32.75 and a one year high of $49.09. The company’s fifty day moving average price is $42.97 and its 200-day moving average price is $44.23. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 11.22 and a beta of 1.77.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings results on Tuesday, October 28th. The asset manager reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.05. The business had revenue of $301.29 million during the quarter, compared to analyst estimates of $300.90 million. Artisan Partners Asset Management had a return on equity of 72.15% and a net margin of 22.90%.Artisan Partners Asset Management’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.92 EPS. Sell-side analysts expect that Artisan Partners Asset Management will post 3.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Artisan Partners Asset Management

Several large investors have recently bought and sold shares of the business. WealthCollab LLC lifted its holdings in shares of Artisan Partners Asset Management by 17.0% in the 2nd quarter. WealthCollab LLC now owns 1,700 shares of the asset manager’s stock valued at $75,000 after buying an additional 247 shares during the period. Farther Finance Advisors LLC raised its position in Artisan Partners Asset Management by 24.1% during the second quarter. Farther Finance Advisors LLC now owns 1,282 shares of the asset manager’s stock valued at $57,000 after acquiring an additional 249 shares in the last quarter. Maryland State Retirement & Pension System raised its position in Artisan Partners Asset Management by 1.2% during the second quarter. Maryland State Retirement & Pension System now owns 20,698 shares of the asset manager’s stock valued at $918,000 after acquiring an additional 251 shares in the last quarter. Guinness Asset Management LTD lifted its holdings in Artisan Partners Asset Management by 2.4% in the second quarter. Guinness Asset Management LTD now owns 10,917 shares of the asset manager’s stock valued at $484,000 after acquiring an additional 253 shares during the period. Finally, Belpointe Asset Management LLC lifted its holdings in Artisan Partners Asset Management by 4.3% in the third quarter. Belpointe Asset Management LLC now owns 6,210 shares of the asset manager’s stock valued at $270,000 after acquiring an additional 255 shares during the period. 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.