Artisan Partners Asset Management (NYSE:APAM) Earns “Hold” Rating from TD Cowen

Artisan Partners Asset Management (NYSE:APAM)‘s stock had its “hold” rating reaffirmed by TD Cowen in a note issued to investors on Friday, Benzinga reports. They currently have a $37.00 price objective on the asset manager’s stock. TD Cowen’s target price suggests a potential downside of 2.28% from the stock’s previous close.

A number of other equities research analysts have also weighed in on APAM. Royal Bank Of Canada boosted their price objective on shares of Artisan Partners Asset Management from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Evercore set a $36.00 price target on Artisan Partners Asset Management in a research report on Friday, July 10th. Zacks Research downgraded Artisan Partners Asset Management from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Artisan Partners Asset Management in a report on Thursday, July 2nd. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Artisan Partners Asset Management currently has a consensus rating of “Reduce” and an average price target of $38.00.

Artisan Partners Asset Management Stock Down 4.6%

Shares of APAM stock traded down $1.84 during trading hours on Friday, reaching $37.86. 285,420 shares of the company’s stock were exchanged, compared to its average volume of 761,550. Artisan Partners Asset Management has a 1 year low of $33.96 and a 1 year high of $47.06. The stock has a market cap of $3.07 billion, a PE ratio of 9.20 and a beta of 1.67. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.41. The stock’s fifty day moving average price is $40.54 and its two-hundred day moving average price is $38.19.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings data on Tuesday, July 28th. The asset manager reported $0.94 EPS for the quarter, beating the consensus estimate of $0.91 by $0.03. The firm had revenue of $307.91 million during 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%. Artisan Partners Asset Management’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the firm posted $0.83 EPS. Research analysts predict that Artisan Partners Asset Management will post 3.91 EPS for the current year.

Insider Buying and Selling

In other Artisan Partners Asset Management news, EVP Gregory Ramirez sold 7,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $42.59, for a total value of $298,130.00. Following the sale, the executive vice president directly owned 109,194 shares of the company’s stock, valued at approximately $4,650,572.46. This represents a 6.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 11.30% of the company’s stock.

Hedge Funds Weigh In On Artisan Partners Asset Management

A number of institutional investors have recently modified their holdings of APAM. Trust Co. of Vermont purchased a new stake in shares of Artisan Partners Asset Management in the second quarter worth about $28,000. Triumph Capital Management boosted its position in Artisan Partners Asset Management by 112.5% in the 4th quarter. Triumph Capital Management now owns 850 shares of the asset manager’s stock worth $35,000 after purchasing an additional 450 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in Artisan Partners Asset Management in the 4th quarter worth approximately $37,000. Nykredit A S acquired a new stake in shares of Artisan Partners Asset Management during the 2nd quarter worth approximately $40,000. Finally, IFP Advisors Inc grew its stake in shares of Artisan Partners Asset Management by 45.8% during the 3rd quarter. IFP Advisors Inc now owns 955 shares of the asset manager’s stock worth $41,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors 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.