Artisan Partners Asset Management (NYSE:APAM) Price Target Raised to $45.00

Artisan Partners Asset Management (NYSE:APAM) had its price target boosted by Royal Bank Of Canada from $44.00 to $45.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an outperform rating on the asset manager’s stock.

APAM has been the subject of a number of other reports. Evercore set a $36.00 target price on Artisan Partners Asset Management in a research report on Friday, July 10th. The Goldman Sachs Group cut their price target on Artisan Partners Asset Management from $39.00 to $34.00 and set a “sell” rating on the stock in a report on Tuesday, April 7th. Zacks Research cut Artisan Partners Asset Management from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 22nd. Wall Street Zen downgraded Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Artisan Partners Asset Management in a research report on Thursday, July 2nd. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $38.00.

Artisan Partners Asset Management Trading Down 0.9%

APAM opened at $39.29 on Thursday. Artisan Partners Asset Management has a 1-year low of $33.96 and a 1-year high of $48.46. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.41. The company has a market cap of $3.17 billion, a P/E ratio of 9.54 and a beta of 1.68. The company has a fifty day moving average price of $36.99 and a two-hundred day moving average price of $38.55.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings data on Tuesday, July 28th. The asset manager reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.03. The firm had revenue of $307.91 million for the quarter, compared to analyst estimates of $301.32 million. Artisan Partners Asset Management had a net margin of 24.08% and a return on equity of 73.11%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.83 earnings per share. Analysts predict that Artisan Partners Asset Management will post 3.91 EPS for the current fiscal year.

Artisan Partners Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be issued a $0.80 dividend. The ex-dividend date is Monday, August 17th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 8.1%. This is a boost from Artisan Partners Asset Management’s previous quarterly dividend of $0.77. Artisan Partners Asset Management’s dividend payout ratio (DPR) is currently 74.76%.

Hedge Funds Weigh In On Artisan Partners Asset Management

Hedge funds have recently added to or reduced their stakes in the stock. Vaughan Nelson Investment Management L.P. boosted its stake in Artisan Partners Asset Management by 12.6% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 2,587,946 shares of the asset manager’s stock valued at $94,175,000 after acquiring an additional 289,105 shares during the last quarter. Channing Capital Management LLC increased its stake in shares of Artisan Partners Asset Management by 14.6% during the 4th quarter. Channing Capital Management LLC now owns 1,967,732 shares of the asset manager’s stock worth $80,165,000 after purchasing an additional 250,475 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Artisan Partners Asset Management by 202.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 348,615 shares of the asset manager’s stock worth $15,130,000 after purchasing an additional 233,523 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Artisan Partners Asset Management by 71.1% in the 4th quarter. Public Sector Pension Investment Board now owns 535,298 shares of the asset manager’s stock worth $21,808,000 after purchasing an additional 222,532 shares during the period. Finally, Federated Hermes Inc. lifted its stake in Artisan Partners Asset Management by 44.6% in the fourth quarter. Federated Hermes Inc. now owns 678,894 shares of the asset manager’s stock valued at $27,658,000 after purchasing an additional 209,524 shares during the last quarter. Institutional investors and hedge funds own 86.45% of the company’s stock.

Artisan Partners Asset Management Company Profile

Artisan Partners Asset Management Inc is a global investment management firm that specializes in active, fundamental research-driven strategies across a range of equity, fixed income and alternative asset classes. Founded in 1994 by Andrew Ziegler, the company has built a reputation for its team-based approach to portfolio construction, emphasizing deep sector expertise and independent analysis. Its product lineup includes U.S. and international equity strategies, global emerging markets, as well as credit and multisector fixed income offerings.

Artisan Partners serves a diverse client base that spans institutional investors, intermediaries and high-net-worth individuals located in North America, Europe and Asia.