Artisan Partners Asset Management (NYSE:APAM) Issues Quarterly Earnings Results

Artisan Partners Asset Management (NYSE:APAM) issued its earnings results on Tuesday. The asset manager reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03, FiscalAI reports. The business had revenue of $307.90 million during the quarter, compared to the consensus estimate of $301.32 million. Artisan Partners Asset Management had a return on equity of 72.99% and a net margin of 23.49%.

Artisan Partners Asset Management Price Performance

Shares of APAM stock traded up $0.57 during midday trading on Tuesday, reaching $40.86. 1,150,354 shares of the company traded hands, compared to its average volume of 755,176. The firm’s 50 day simple moving average is $36.74 and its two-hundred day simple moving average is $38.61. The firm has a market cap of $3.29 billion, a PE ratio of 10.34 and a beta of 1.68. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.82 and a quick ratio of 0.82. Artisan Partners Asset Management has a 1-year low of $33.96 and a 1-year high of $48.46.

Hedge Funds Weigh In On Artisan Partners Asset Management

Several hedge funds have recently bought and sold shares of APAM. Channing Capital Management LLC boosted its position in Artisan Partners Asset Management by 14.6% during the fourth 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 in the last quarter. Qube Research & Technologies Ltd grew its holdings in Artisan Partners Asset Management by 202.9% in the third quarter. Qube Research & Technologies Ltd now owns 348,615 shares of the asset manager’s stock valued at $15,130,000 after purchasing an additional 233,523 shares during the last quarter. Public Sector Pension Investment Board increased its position in shares of Artisan Partners Asset Management by 71.1% in the fourth quarter. Public Sector Pension Investment Board now owns 535,298 shares of the asset manager’s stock valued at $21,808,000 after buying an additional 222,532 shares in the last quarter. Federated Hermes Inc. increased its position in shares of 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 buying an additional 209,524 shares in the last quarter. Finally, Wasatch Advisors LP increased its position in shares of Artisan Partners Asset Management by 15.0% in the third quarter. Wasatch Advisors LP now owns 1,573,381 shares of the asset manager’s stock valued at $68,285,000 after buying an additional 205,380 shares in the last quarter. 86.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on APAM shares. The Goldman Sachs Group decreased their price target on Artisan Partners Asset Management from $39.00 to $34.00 and set a “sell” rating on the stock in a research note on Tuesday, April 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Artisan Partners Asset Management in a research report on Thursday, July 2nd. TD Cowen reissued a “hold” rating on shares of Artisan Partners Asset Management in a report on Thursday, April 9th. Zacks Research lowered shares of Artisan Partners Asset Management from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 22nd. Finally, Royal Bank Of Canada upped their price target on shares of Artisan Partners Asset Management from $43.00 to $44.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $39.25.

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.