Artisan Partners Asset Management (NYSE:APAM – Get Rating) had its price objective upped by Keefe, Bruyette & Woods from $35.00 to $37.00 in a research note released on Thursday, Benzinga reports. The firm currently has a market perform rating on the asset manager's stock.
APAM has been the topic of several other reports. The Goldman Sachs Group upped their price objective on Artisan Partners Asset Management from $26.00 to $31.00 and gave the stock a neutral rating in a report on Wednesday, November 23rd. Royal Bank of Canada upped their price objective on Artisan Partners Asset Management from $35.00 to $39.00 and gave the stock an outperform rating in a report on Tuesday, January 31st. Credit Suisse Group upped their price objective on Artisan Partners Asset Management from $29.50 to $30.00 and gave the stock a neutral rating in a report on Thursday. StockNews.com assumed coverage on Artisan Partners Asset Management in a report on Wednesday, October 12th. They set a hold rating on the stock. Finally, TheStreet cut Artisan Partners Asset Management from a b- rating to a c+ rating in a report on Wednesday, October 19th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $34.75.
Get Artisan Partners Asset Management alerts:Artisan Partners Asset Management Trading Down 1.5 %
APAM stock opened at $37.47 on Thursday. Artisan Partners Asset Management has a 1-year low of $25.67 and a 1-year high of $43.67. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 12.79 and a beta of 1.83. The business has a 50 day simple moving average of $33.57 and a two-hundred day simple moving average of $32.94.
Artisan Partners Asset Management (NYSE:APAM – Get Rating) last posted its quarterly earnings results on Wednesday, February 1st. The asset manager reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.03. Artisan Partners Asset Management had a return on equity of 99.80% and a net margin of 20.82%. The business had revenue of $226.00 million during the quarter, compared to the consensus estimate of $222.60 million. During the same period in the prior year, the company posted $1.29 EPS. The firm's revenue for the quarter was down 28.3% compared to the same quarter last year. Research analysts anticipate that Artisan Partners Asset Management will post 2.56 EPS for the current fiscal year.Artisan Partners Asset Management Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 28th. Investors of record on Tuesday, February 14th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 9.61%. The ex-dividend date of this dividend is Monday, February 13th. This is a positive change from Artisan Partners Asset Management's previous quarterly dividend of $0.56. Artisan Partners Asset Management's dividend payout ratio is presently 76.45%.
Institutional Trading of Artisan Partners Asset Management
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC grew its position in Artisan Partners Asset Management by 80.2% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,804,537 shares of the asset manager's stock valued at $242,037,000 after acquiring an additional 3,028,362 shares during the last quarter. Vanguard Group Inc. grew its position in Artisan Partners Asset Management by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,439,054 shares of the asset manager's stock valued at $173,404,000 after acquiring an additional 92,289 shares during the last quarter. BlackRock Inc. grew its position in Artisan Partners Asset Management by 1.1% in the 1st quarter. BlackRock Inc. now owns 5,092,524 shares of the asset manager's stock valued at $200,390,000 after acquiring an additional 57,485 shares during the last quarter. Clarkston Capital Partners LLC grew its position in Artisan Partners Asset Management by 7.8% in the 3rd quarter. Clarkston Capital Partners LLC now owns 2,397,233 shares of the asset manager's stock valued at $64,557,000 after acquiring an additional 174,115 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in Artisan Partners Asset Management by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 1,850,500 shares of the asset manager's stock valued at $54,960,000 after acquiring an additional 25,877 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.
About Artisan Partners Asset Management
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Artisan Partners Asset Management, Inc operates as an investment management company, which provides investment strategies to clients globally. It offers investment management services to institutions and through intermediaries that operate with institutional-like decision-making processes and have longer-term investment horizons, by means of separate accounts and mutual funds.
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