Artisan Partners Asset Management (NYSE:APAM) Hits New 52-Week Low on Analyst Downgrade

Artisan Partners Asset Management Inc. (NYSE:APAM) shares reached a new 52-week low on Monday after TD Cowen lowered their price target on the stock from $37.00 to $33.00. TD Cowen currently has a hold rating on the stock. Artisan Partners Asset Management traded as low as $32.61 and last traded at $32.1280, with a volume of 31,313 shares trading hands. The stock had previously closed at $33.46.

Several other brokerages have also issued reports on APAM. Weiss Ratings restated a “hold (c)” rating on shares of Artisan Partners Asset Management in a research note on Tuesday, September 29th. Zacks Research upgraded Artisan Partners Asset Management from a “strong sell” rating to a “hold” rating in a research note on Monday, September 14th. Royal Bank Of Canada reduced their price objective on Artisan Partners Asset Management from $45.00 to $43.00 and set an “outperform” rating for the company in a report on Friday, October 9th. Evercore set a $34.00 target price on Artisan Partners Asset Management in a research report on Friday. Finally, The Goldman Sachs Group lowered their target price on Artisan Partners Asset Management from $35.00 to $31.00 and set a “sell” rating on the stock in a research note on Friday, October 2nd. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Artisan Partners Asset Management currently has a consensus rating of “Hold” and a consensus target price of $35.25.

Insider Buying and Selling

In other Artisan Partners Asset Management news, EVP Gregory Ramirez sold 7,000 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $42.59, for a total transaction of $298,130.00. Following the completion of the transaction, the executive vice president owned 109,194 shares in the company, valued at $4,650,572.46. This trade represents a 6.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 11.30% of the stock is currently owned by company insiders.

Institutional Trading of Artisan Partners Asset Management

Several hedge funds and other institutional investors have recently modified their holdings of the business. WealthCollab LLC lifted its position in Artisan Partners Asset Management by 21.9% in the 1st quarter. WealthCollab LLC now owns 2,072 shares of the asset manager’s stock valued at $75,000 after acquiring an additional 372 shares in the last quarter. Aviance Capital Partners LLC increased its holdings in shares of Artisan Partners Asset Management by 1.2% in the 1st quarter. Aviance Capital Partners LLC now owns 33,564 shares of the asset manager’s stock worth $1,221,000 after purchasing an additional 405 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Artisan Partners Asset Management by 20.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,148 shares of the asset manager’s stock worth $114,000 after purchasing an additional 545 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Artisan Partners Asset Management by 51.0% in the 2nd quarter. Versant Capital Management Inc now owns 1,658 shares of the asset manager’s stock worth $57,000 after purchasing an additional 560 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC increased its holdings in shares of Artisan Partners Asset Management by 7.0% in the 1st quarter. MeadowBrook Investment Advisors LLC now owns 9,206 shares of the asset manager’s stock worth $335,000 after purchasing an additional 600 shares in the last quarter. Institutional investors own 86.45% of the company’s stock.

Artisan Partners Asset Management Stock Down 3.7%

The company has a 50 day moving average price of $39.08 and a two-hundred day moving average price of $37.82. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market cap of $2.53 billion, a PE ratio of 7.58 and a beta of 1.70.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings results on Tuesday, July 28th. The asset manager reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.03. Artisan Partners Asset Management had a return on equity of 73.11% and a net margin of 24.08%. The firm had revenue of $307.91 million for the quarter, compared to the consensus estimate of $301.32 million. During the same period in the prior year, the company posted $0.83 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. Analysts expect that Artisan Partners Asset Management Inc. will post 3.86 EPS for the current year.

Artisan Partners Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were given a $0.80 dividend. This is a positive change from Artisan Partners Asset Management’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.20 dividend on an annualized basis and a yield of 10.2%. Artisan Partners Asset Management’s payout ratio is presently 77.67%.

About Artisan Partners Asset Management

Artisan Partners Asset Management, Inc (NYSE: APAM) is a global investment management firm that provides active investment strategies to institutional investors, financial intermediaries and private clients. The company operates through affiliated investment teams with distinct approaches, investment philosophies and areas of expertise.

Artisan Partners offers a range of equity, fixed-income and alternative investment strategies. Its products and services include separately managed accounts, mutual funds, collective investment trusts and other investment vehicles designed for institutions, wealth managers and individual investors.