Artisan Partners Asset Management Inc. (NYSE:APAM) Given Average Recommendation of “Hold” by Brokerages

Artisan Partners Asset Management Inc. (NYSE:APAM) has received a consensus recommendation of “Hold” from the six brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $37.90.

Several equities research analysts have recently commented on APAM shares. Cowen reissued a “hold” rating on shares of Artisan Partners Asset Management in a research note on Wednesday, May 14th. Wall Street Zen raised Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research note on Tuesday, May 20th. Evercore ISI reduced their target price on Artisan Partners Asset Management from $33.00 to $32.00 and set an “in-line” rating on the stock in a research note on Thursday, May 1st. TD Securities upped their target price on Artisan Partners Asset Management from $35.00 to $39.00 and gave the company a “hold” rating in a research note on Thursday, May 1st. Finally, Royal Bank of Canada upped their target price on Artisan Partners Asset Management from $43.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, May 6th.

Artisan Partners Asset Management Price Performance

Shares of NYSE:APAM opened at $40.30 on Monday. The business’s 50 day simple moving average is $38.74 and its 200-day simple moving average is $42.17. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 11.07 and a beta of 1.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.56 and a quick ratio of 0.73. Artisan Partners Asset Management has a 12 month low of $32.75 and a 12 month high of $49.54.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings results on Tuesday, April 29th. The asset manager reported $0.83 EPS for the quarter, topping the consensus estimate of $0.76 by $0.07. The business had revenue of $277.10 million for the quarter, compared to analyst estimates of $281.15 million. Artisan Partners Asset Management had a return on equity of 74.02% and a net margin of 23.36%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.76 EPS. As a group, equities analysts forecast that Artisan Partners Asset Management will post 3.6 earnings per share for the current fiscal year.

Artisan Partners Asset Management Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 6.75%. The ex-dividend date of this dividend was Friday, May 16th. Artisan Partners Asset Management’s payout ratio is currently 75.14%.

Insider Activity at Artisan Partners Asset Management

In other Artisan Partners Asset Management news, EVP Samuel Bentson Sellers sold 6,801 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $44.24, for a total transaction of $300,876.24. Following the transaction, the executive vice president now owns 40,529 shares of the company’s stock, valued at $1,793,002.96. This represents a 14.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 12.53% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Rhumbline Advisers lifted its stake in shares of Artisan Partners Asset Management by 1.0% during the 1st quarter. Rhumbline Advisers now owns 184,079 shares of the asset manager’s stock worth $7,197,000 after purchasing an additional 1,779 shares during the period. Strs Ohio purchased a new position in shares of Artisan Partners Asset Management during the 1st quarter worth $888,000. Belpointe Asset Management LLC increased its holdings in shares of Artisan Partners Asset Management by 7.7% during the 1st quarter. Belpointe Asset Management LLC now owns 6,541 shares of the asset manager’s stock worth $256,000 after buying an additional 466 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of Artisan Partners Asset Management by 46.8% during the 1st quarter. Intech Investment Management LLC now owns 30,184 shares of the asset manager’s stock worth $1,180,000 after buying an additional 9,629 shares during the last quarter. Finally, Kestra Investment Management LLC increased its holdings in shares of Artisan Partners Asset Management by 32.8% during the 1st quarter. Kestra Investment Management LLC now owns 63,878 shares of the asset manager’s stock worth $2,498,000 after buying an additional 15,792 shares during the last quarter. Hedge funds and other institutional investors own 86.45% of the company’s stock.

Artisan Partners Asset Management Company Profile

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.