Artisan Partners Asset Management (NYSE:APAM) Given New $42.00 Price Target at Royal Bank Of Canada

Artisan Partners Asset Management (NYSE:APAM) had its price target reduced by research analysts at Royal Bank Of Canada from $43.00 to $42.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the asset manager’s stock. Royal Bank Of Canada‘s price target points to a potential upside of 13.21% from the stock’s current price.

APAM has been the subject of several other research reports. The Goldman Sachs Group dropped their target price on shares of Artisan Partners Asset Management from $35.00 to $31.00 and set a “sell” rating for the company in a research report on Friday, October 2nd. Evercore set a $33.00 price objective on shares of Artisan Partners Asset Management in a research note on Thursday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Artisan Partners Asset Management in a research report on Tuesday, September 29th. Zacks Research downgraded shares of Artisan Partners Asset Management from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 13th. Finally, TD Cowen dropped their target price on Artisan Partners Asset Management from $37.00 to $33.00 and set a “hold” rating for the company in a research report on Monday, October 12th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Artisan Partners Asset Management has a consensus rating of “Reduce” and an average price target of $34.75.

Artisan Partners Asset Management Price Performance

NYSE:APAM traded up $0.71 during midday trading on Friday, hitting $37.10. 146,329 shares of the stock were exchanged, compared to its average volume of 834,035. The company has a current ratio of 0.86, a quick ratio of 0.90 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 8.76 and a beta of 1.70. The business has a 50-day moving average price of $36.93 and a two-hundred day moving average price of $38.39. Artisan Partners Asset Management has a one year low of $30.86 and a one year high of $46.53.

Artisan Partners Asset Management (NYSE:APAM) last issued its earnings results on Tuesday, October 27th. The asset manager reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.07. The firm had revenue of $312.52 million for the quarter, compared to the consensus estimate of $307.60 million. Artisan Partners Asset Management had a return on equity of 71.69% and a net margin of 24.54%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.02 earnings per share. Sell-side analysts predict that Artisan Partners Asset Management will post 3.79 EPS for the current year.

Insider Buying and Selling at Artisan Partners Asset Management

In related news, EVP Gregory Ramirez sold 7,000 shares of the company’s stock in a transaction dated 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 owned 109,194 shares in the company, valued at $4,650,572.46. This represents a 6.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 11.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Artisan Partners Asset Management

Several institutional investors and hedge funds have recently added to or reduced their stakes in APAM. Mirae Asset Global Investments Co. Ltd. bought a new stake in Artisan Partners Asset Management during the third quarter worth $2,444,000. Prosperitas Financial LLC lifted its position in shares of Artisan Partners Asset Management by 9.6% during the third quarter. Prosperitas Financial LLC now owns 8,979 shares of the asset manager’s stock worth $324,000 after acquiring an additional 786 shares in the last quarter. Park Avenue Securities LLC bought a new stake in shares of Artisan Partners Asset Management during the third quarter valued at about $212,000. Provident Investment Management Inc. boosted its stake in Artisan Partners Asset Management by 17.6% during the third quarter. Provident Investment Management Inc. now owns 28,085 shares of the asset manager’s stock valued at $1,014,000 after buying an additional 4,210 shares during the period. Finally, Carolina Wealth Advisors LLC grew its stake in Artisan Partners Asset Management by 1.8% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 57,579 shares of the asset manager’s stock worth $2,080,000 after buying an additional 1,002 shares in the last quarter. 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 an investment management company that provides actively managed investment strategies to institutional and intermediary clients, as well as certain private wealth investors. The company operates through Artisan Partners, L.P. and related entities, offering investment expertise across equity, fixed-income and alternative asset classes.

Its products and services include strategies focused on U.S. and international equities, emerging markets, non-U.S.