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Artisan Partners Asset Management (NYSE:APAM) Hits New 12-Month Low at $31.23

Financial News Live ·  Sep 22, 2022 08:01

Artisan Partners Asset Management Inc. (NYSE:APAM – Get Rating) shares hit a new 52-week low on Tuesday . The stock traded as low as $31.23 and last traded at $31.42, with a volume of 10204 shares. The stock had previously closed at $32.30.

Analysts Set New Price Targets

APAM has been the topic of several research reports. The Goldman Sachs Group lowered their price target on shares of Artisan Partners Asset Management from $33.50 to $30.00 and set a "neutral" rating on the stock in a research report on Thursday, July 14th. Keefe, Bruyette & Woods increased their price target on shares of Artisan Partners Asset Management from $36.00 to $38.00 and gave the company a "market perform" rating in a research report on Tuesday, June 28th. Finally, Evercore ISI increased their price target on shares of Artisan Partners Asset Management to $35.00 in a research report on Tuesday, August 9th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $39.50.

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Artisan Partners Asset Management Stock Performance

The stock's 50-day moving average is $35.79 and its 200-day moving average is $36.35. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 7.68 and a beta of 1.73. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.58 and a quick ratio of 0.58.

Artisan Partners Asset Management (NYSE:APAM – Get Rating) last announced its earnings results on Tuesday, August 2nd. The asset manager reported $0.79 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.84 by ($0.05). The firm had revenue of $251.40 million for the quarter, compared to analyst estimates of $264.51 million. Artisan Partners Asset Management had a return on equity of 131.59% and a net margin of 24.10%. During the same quarter last year, the business posted $1.28 EPS. Analysts anticipate that Artisan Partners Asset Management Inc. will post 3.17 EPS for the current fiscal year.

Artisan Partners Asset Management Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 17th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 7.68%. The ex-dividend date was Tuesday, August 16th. Artisan Partners Asset Management's dividend payout ratio is currently 58.97%.

Hedge Funds Weigh In On Artisan Partners Asset Management

A number of large investors have recently bought and sold shares of the stock. Lazard Asset Management LLC raised its stake in Artisan Partners Asset Management by 37.6% during the second quarter. Lazard Asset Management LLC now owns 1,278 shares of the asset manager's stock worth $45,000 after purchasing an additional 349 shares during the period. Legal & General Group Plc raised its stake in shares of Artisan Partners Asset Management by 0.7% in the 2nd quarter. Legal & General Group Plc now owns 55,537 shares of the asset manager's stock valued at $1,975,000 after acquiring an additional 393 shares during the period. Arizona State Retirement System raised its stake in shares of Artisan Partners Asset Management by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 18,026 shares of the asset manager's stock valued at $641,000 after acquiring an additional 397 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Artisan Partners Asset Management by 95.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 840 shares of the asset manager's stock valued at $33,000 after acquiring an additional 410 shares during the period. Finally, Wealthsource Partners LLC raised its stake in shares of Artisan Partners Asset Management by 7.4% in the 2nd quarter. Wealthsource Partners LLC now owns 6,599 shares of the asset manager's stock valued at $235,000 after acquiring an additional 456 shares during the period. Hedge funds and other institutional investors own 80.86% of the company's stock.

About Artisan Partners Asset Management

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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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