Artisan Partners Asset Management (NYSE:APAM) Shares Down 5.6% – Time to Sell?

Shares of Artisan Partners Asset Management Inc. (NYSE:APAM) dropped 5.6% on Monday . The stock traded as low as $35.20 and last traded at $35.09. Approximately 620,367 shares were traded during mid-day trading, a decline of 12% from the average daily volume of 705,917 shares. The stock had previously closed at $37.19.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on APAM. TD Cowen restated a “hold” rating on shares of Artisan Partners Asset Management in a research note on Thursday, April 9th. Evercore set a $39.00 price objective on Artisan Partners Asset Management in a report on Monday. Wall Street Zen downgraded shares of Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. The Goldman Sachs Group dropped their price objective on shares of Artisan Partners Asset Management from $39.00 to $34.00 and set a “sell” rating on the stock in a research note on Tuesday, April 7th. Finally, Royal Bank Of Canada lowered their price target on Artisan Partners Asset Management from $48.00 to $43.00 and set an “outperform” rating on the stock in a research report on Thursday, April 30th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $39.75.

Artisan Partners Asset Management Trading Down 2.1%

The company’s fifty day simple moving average is $37.10 and its 200-day simple moving average is $39.80. The firm has a market capitalization of $2.78 billion, a PE ratio of 8.72 and a beta of 1.67. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.82 and a quick ratio of 0.82.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings results on Tuesday, April 28th. The asset manager reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.04). Artisan Partners Asset Management had a return on equity of 72.99% and a net margin of 23.49%.The company had revenue of $303.01 million for the quarter, compared to analyst estimates of $304.01 million. During the same quarter last year, the company earned $0.83 EPS. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, sell-side analysts expect that Artisan Partners Asset Management Inc. will post 3.93 earnings per share for the current fiscal year.

Artisan Partners Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 8.9%. Artisan Partners Asset Management’s dividend payout ratio is presently 77.97%.

Hedge Funds Weigh In On Artisan Partners Asset Management

Several hedge funds and other institutional investors have recently modified their holdings of the business. Foster Dykema Cabot & Partners LLC purchased a new stake in Artisan Partners Asset Management during the 3rd quarter valued at about $27,000. Eagle Bay Advisors LLC purchased a new stake in shares of Artisan Partners Asset Management in the fourth quarter valued at approximately $32,000. Community Bank N.A. purchased a new stake in shares of Artisan Partners Asset Management in the third quarter valued at approximately $33,000. Triumph Capital Management increased its holdings in shares of Artisan Partners Asset Management by 112.5% in the fourth quarter. Triumph Capital Management now owns 850 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 450 shares during the last quarter. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in shares of Artisan Partners Asset Management in the fourth quarter valued at approximately $37,000. 86.45% of the stock is owned by hedge funds and other institutional investors.

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.