Artisan Partners Asset Management (NYSE:APAM) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Artisan Partners Asset Management (NYSE:APAM) from a hold rating to a buy rating in a research note issued to investors on Wednesday.

A number of other equities analysts also recently commented on the company. The Goldman Sachs Group dropped their price objective on Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating on the stock in a report on Thursday, October 3rd. TD Cowen raised their target price on shares of Artisan Partners Asset Management from $38.00 to $39.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $50.00 price target on shares of Artisan Partners Asset Management in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $42.83.

Artisan Partners Asset Management Stock Up 0.4 %

Shares of NYSE:APAM opened at $43.65 on Wednesday. Artisan Partners Asset Management has a 52 week low of $32.12 and a 52 week high of $47.08. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market cap of $3.51 billion, a PE ratio of 13.31 and a beta of 1.79. The firm has a 50 day simple moving average of $42.35 and a 200 day simple moving average of $42.27.

Artisan Partners Asset Management (NYSE:APAM) last issued its earnings results on Tuesday, July 23rd. The asset manager reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). The business had revenue of $270.80 million during the quarter, compared to analyst estimates of $274.70 million. Artisan Partners Asset Management had a net margin of 22.75% and a return on equity of 71.76%. Artisan Partners Asset Management’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 EPS. As a group, research analysts expect that Artisan Partners Asset Management will post 3.36 earnings per share for the current year.

Institutional Investors Weigh In On Artisan Partners Asset Management

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Artisan Partners Asset Management by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 7,873,612 shares of the asset manager’s stock valued at $347,856,000 after acquiring an additional 75,304 shares in the last quarter. Mather Group LLC. bought a new position in Artisan Partners Asset Management in the first quarter worth $26,000. Sound Income Strategies LLC lifted its position in Artisan Partners Asset Management by 19.0% in the first quarter. Sound Income Strategies LLC now owns 2,064 shares of the asset manager’s stock worth $94,000 after purchasing an additional 329 shares during the period. MCF Advisors LLC acquired a new stake in Artisan Partners Asset Management during the first quarter worth $31,000. Finally, Aviance Capital Partners LLC increased its holdings in Artisan Partners Asset Management by 2.4% in the 1st quarter. Aviance Capital Partners LLC now owns 29,868 shares of the asset manager’s stock valued at $1,367,000 after buying an additional 691 shares during the period. Institutional investors own 86.45% of the company’s stock.

About Artisan Partners Asset Management

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.