Artisan Partners Asset Management Inc. (NYSE:APAM – Get Rating)'s stock price reached a new 52-week low on Wednesday . The stock traded as low as $31.98 and last traded at $32.33, with a volume of 19926 shares changing hands. The stock had previously closed at $32.62.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group reduced their price objective on shares of Artisan Partners Asset Management from $33.50 to $30.00 and set a "neutral" rating for the company in a research report on Thursday, July 14th. Evercore ISI raised their price objective on shares of Artisan Partners Asset Management to $35.00 in a research report on Tuesday, August 9th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Artisan Partners Asset Management from $36.00 to $38.00 and gave the company a "market perform" rating in a research note on Tuesday, June 28th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $39.50.
Get Artisan Partners Asset Management alerts:Artisan Partners Asset Management Stock Down 1.0 %
The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $2.55 billion, a PE ratio of 7.86 and a beta of 1.73. The business's 50 day simple moving average is $36.14 and its 200 day simple moving average is $36.51.
Artisan Partners Asset Management (NYSE:APAM – Get Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The asset manager reported $0.79 EPS for the quarter, missing analysts' consensus estimates of $0.84 by ($0.05). Artisan Partners Asset Management had a net margin of 24.10% and a return on equity of 131.59%. The firm had revenue of $251.40 million for the quarter, compared to analysts' expectations of $264.51 million. During the same period in the prior year, the company posted $1.28 earnings per share. As a group, analysts forecast that Artisan Partners Asset Management Inc. will post 3.17 EPS for the current year.Artisan Partners Asset Management Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 17th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 7.50%. The ex-dividend date of this dividend was Tuesday, August 16th. Artisan Partners Asset Management's dividend payout ratio (DPR) is 58.97%.
Institutional Trading of Artisan Partners Asset Management
A number of hedge funds have recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Artisan Partners Asset Management by 80.2% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,804,537 shares of the asset manager's stock worth $242,037,000 after purchasing an additional 3,028,362 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Artisan Partners Asset Management by 2.7% in the first quarter. Vanguard Group Inc. now owns 6,206,714 shares of the asset manager's stock worth $244,235,000 after purchasing an additional 166,010 shares in the last quarter. BlackRock Inc. lifted its position in shares of Artisan Partners Asset Management by 1.1% in the first quarter. BlackRock Inc. now owns 5,092,524 shares of the asset manager's stock worth $200,390,000 after purchasing an additional 57,485 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Artisan Partners Asset Management by 16.1% in the first quarter. Fisher Asset Management LLC now owns 1,609,132 shares of the asset manager's stock worth $63,319,000 after purchasing an additional 223,267 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Artisan Partners Asset Management by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,139,372 shares of the asset manager's stock worth $54,279,000 after purchasing an additional 6,899 shares in the last quarter. 80.86% of the stock is owned by hedge funds and other institutional investors.
Artisan Partners Asset Management Company Profile
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Artisan Partners Asset Management Inc is publicly owned investment manager. It provides its services to pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. funds, as well as mutual funds, non-U.S. funds and collective trusts.
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