Artisan Partners Asset Management (NYSE:APAM) Stock Rating Lowered by Zacks Research

Artisan Partners Asset Management (NYSE:APAM) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other brokerages have also recently issued reports on APAM. Royal Bank Of Canada restated an “outperform” rating and issued a $48.00 target price on shares of Artisan Partners Asset Management in a report on Tuesday. Weiss Ratings cut Artisan Partners Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 20th. The Goldman Sachs Group dropped their target price on Artisan Partners Asset Management from $39.00 to $34.00 and set a “sell” rating for the company in a report on Tuesday, April 7th. TD Cowen restated a “hold” rating on shares of Artisan Partners Asset Management in a report on Thursday, April 9th. Finally, Wall Street Zen cut Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Artisan Partners Asset Management currently has a consensus rating of “Reduce” and a consensus price target of $40.20.

Artisan Partners Asset Management Stock Up 1.3%

Shares of NYSE:APAM opened at $38.43 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.40. The business has a fifty day moving average of $38.01 and a two-hundred day moving average of $41.26. The stock has a market cap of $3.10 billion, a P/E ratio of 9.58 and a beta of 1.76. Artisan Partners Asset Management has a 52-week low of $34.99 and a 52-week high of $48.50.

Artisan Partners Asset Management (NYSE:APAM) last issued its earnings results on Tuesday, February 3rd. The asset manager reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.15. The company had revenue of $335.51 million during the quarter, compared to analysts’ expectations of $322.13 million. Artisan Partners Asset Management had a return on equity of 73.73% and a net margin of 24.26%.The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.05 EPS. On average, research analysts expect that Artisan Partners Asset Management will post 3.96 earnings per share for the current year.

Institutional Investors Weigh In On Artisan Partners Asset Management

A number of institutional investors have recently made changes to their positions in the stock. WealthCollab LLC increased its position in shares of Artisan Partners Asset Management by 17.0% during the second quarter. WealthCollab LLC now owns 1,700 shares of the asset manager’s stock valued at $75,000 after acquiring an additional 247 shares during the last quarter. Belpointe Asset Management LLC increased its position in shares of Artisan Partners Asset Management by 4.3% during the third quarter. Belpointe Asset Management LLC now owns 6,210 shares of the asset manager’s stock valued at $270,000 after acquiring an additional 255 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Artisan Partners Asset Management by 18.1% during the third quarter. Smartleaf Asset Management LLC now owns 1,730 shares of the asset manager’s stock valued at $75,000 after acquiring an additional 265 shares during the last quarter. WINTON GROUP Ltd increased its position in shares of Artisan Partners Asset Management by 0.9% during the fourth quarter. WINTON GROUP Ltd now owns 29,793 shares of the asset manager’s stock valued at $1,214,000 after acquiring an additional 269 shares during the last quarter. Finally, Provident Investment Management Inc. lifted its stake in Artisan Partners Asset Management by 1.2% during the 3rd quarter. Provident Investment Management Inc. now owns 22,295 shares of the asset manager’s stock worth $968,000 after acquiring an additional 275 shares in the last quarter. 86.45% of the stock is currently owned by institutional investors and hedge funds.

About Artisan Partners Asset Management

Artisan Partners Asset Management Inc is a global investment management firm that specializes in active, fundamental research-driven strategies across a range of equity, fixed income and alternative asset classes. Founded in 1994 by Andrew Ziegler, the company has built a reputation for its team-based approach to portfolio construction, emphasizing deep sector expertise and independent analysis. Its product lineup includes U.S. and international equity strategies, global emerging markets, as well as credit and multisector fixed income offerings.

Artisan Partners serves a diverse client base that spans institutional investors, intermediaries and high-net-worth individuals located in North America, Europe and Asia.