Artisan Partners Asset Management Inc. (NYSE:APAM) Receives $39.30 Consensus Target Price from Analysts

Artisan Partners Asset Management Inc. (NYSE:APAM) has been given a consensus recommendation of “Hold” by the six brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $39.30.

Several research firms recently weighed in on APAM. Royal Bank Of Canada increased their target price on shares of Artisan Partners Asset Management from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Evercore ISI reduced their target price on shares of Artisan Partners Asset Management from $33.00 to $32.00 and set an “in-line” rating for the company in a research note on Thursday, May 1st. Cowen reiterated a “hold” rating on shares of Artisan Partners Asset Management in a research note on Wednesday, May 14th. TD Securities increased their target price on shares of 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, Wall Street Zen upgraded shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research note on Tuesday, May 20th.

Insider Transactions at Artisan Partners Asset Management

In other Artisan Partners Asset Management news, CFO Charles J. Daley, Jr. sold 15,448 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $40.45, for a total transaction of $624,871.60. Following the completion of the transaction, the chief financial officer owned 91,363 shares in the company, valued at $3,695,633.35. This trade represents a 14.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Samuel Bentson Sellers sold 6,801 shares of the firm’s stock in a transaction dated 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 owned 40,529 shares of the company’s stock, valued at approximately $1,793,002.96. This represents a 14.37% decrease in their position. The disclosure for this sale can be found here. 12.53% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can lifted its stake in Artisan Partners Asset Management by 40.2% during the fourth quarter. Bank of Montreal Can now owns 15,646 shares of the asset manager’s stock worth $674,000 after purchasing an additional 4,485 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Artisan Partners Asset Management by 12.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,100 shares of the asset manager’s stock valued at $2,234,000 after acquiring an additional 6,508 shares during the last quarter. First Citizens Bank & Trust Co. bought a new position in shares of Artisan Partners Asset Management in the first quarter valued at approximately $275,000. Drake & Associates LLC raised its stake in shares of Artisan Partners Asset Management by 31.0% in the first quarter. Drake & Associates LLC now owns 40,174 shares of the asset manager’s stock valued at $1,571,000 after acquiring an additional 9,518 shares during the last quarter. Finally, Squarepoint Ops LLC raised its stake in shares of Artisan Partners Asset Management by 80.2% in the fourth quarter. Squarepoint Ops LLC now owns 19,397 shares of the asset manager’s stock valued at $835,000 after acquiring an additional 8,633 shares during the last quarter. Institutional investors own 86.45% of the company’s stock.

Artisan Partners Asset Management Stock Up 1.3%

APAM stock opened at $46.71 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.97 and a quick ratio of 0.97. Artisan Partners Asset Management has a 52-week low of $32.75 and a 52-week high of $49.54. The company has a 50-day moving average of $44.72 and a two-hundred day moving average of $41.98. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 12.42 and a beta of 1.69.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings results on Tuesday, July 29th. The asset manager reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. Artisan Partners Asset Management had a net margin of 23.87% and a return on equity of 71.72%. The company had revenue of $282.80 million during the quarter, compared to analysts’ expectations of $269.00 million. During the same period in the prior year, the company earned $0.82 earnings per share. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Artisan Partners Asset Management will post 3.6 EPS for the current year.

Artisan Partners Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.73 per share. This is a positive change from Artisan Partners Asset Management’s previous quarterly dividend of $0.68. This represents a $2.92 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Friday, August 15th. Artisan Partners Asset Management’s dividend payout ratio is 72.34%.

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.