Artisan Partners Asset Management Inc (APAM) Receives $33.00 Consensus Target Price from Analysts

Artisan Partners Asset Management Inc (NYSE:APAM) has received an average rating of “Hold” from the seven analysts that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $29.60.

Several equities analysts recently weighed in on the company. ValuEngine upgraded Artisan Partners Asset Management from a “strong sell” rating to a “sell” rating in a research note on Tuesday, April 9th. TheStreet upgraded Artisan Partners Asset Management from a “c+” rating to a “b-” rating in a report on Monday. Zacks Investment Research upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Tuesday, April 9th. Bank of America set a $25.00 price objective on Artisan Partners Asset Management and gave the stock a “sell” rating in a report on Tuesday, April 9th. Finally, Citigroup upgraded Artisan Partners Asset Management from a “sell” rating to a “neutral” rating and set a $25.00 price objective on the stock in a report on Monday.

Shares of Artisan Partners Asset Management stock traded down $0.21 on Wednesday, hitting $28.75. The company’s stock had a trading volume of 580,200 shares, compared to its average volume of 470,726. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.42. Artisan Partners Asset Management has a 1 year low of $20.16 and a 1 year high of $35.50. The firm has a market cap of $2.16 billion, a PE ratio of 9.78, a P/E/G ratio of 1.62 and a beta of 1.74.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings results on Monday, February 4th. The asset manager reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.01). Artisan Partners Asset Management had a net margin of 19.10% and a return on equity of 184.56%. The business had revenue of $191.50 million during the quarter, compared to analysts’ expectations of $193.12 million. During the same quarter in the prior year, the firm earned $0.66 EPS. Artisan Partners Asset Management’s revenue for the quarter was down 9.1% on a year-over-year basis. On average, sell-side analysts expect that Artisan Partners Asset Management will post 2.49 EPS for the current year.

In related news, insider Jason A. Gottlieb sold 10,000 shares of Artisan Partners Asset Management stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $26.18, for a total value of $261,800.00. Following the sale, the insider now directly owns 101,710 shares in the company, valued at approximately $2,662,767.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 28.23% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. boosted its holdings in shares of Artisan Partners Asset Management by 230.6% during the 1st quarter. Meeder Asset Management Inc. now owns 3,065 shares of the asset manager’s stock worth $77,000 after purchasing an additional 2,138 shares during the last quarter. Pearl River Capital LLC acquired a new position in shares of Artisan Partners Asset Management during the 4th quarter worth approximately $70,000. Great West Life Assurance Co. Can boosted its holdings in shares of Artisan Partners Asset Management by 7.5% during the 4th quarter. Great West Life Assurance Co. Can now owns 7,268 shares of the asset manager’s stock worth $153,000 after purchasing an additional 504 shares during the last quarter. Raymond James Trust N.A. acquired a new position in shares of Artisan Partners Asset Management during the 1st quarter worth approximately $225,000. Finally, Jane Street Group LLC acquired a new position in shares of Artisan Partners Asset Management during the 4th quarter worth approximately $200,000. Institutional investors own 63.48% 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.

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