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

Artisan Partners Asset Management (NYSE:APAM) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday, Zacks reports.

APAM has been the topic of a number of other reports. The Goldman Sachs Group decreased their price target on Artisan Partners Asset Management from $35.00 to $31.00 and set a “sell” rating on the stock in a research note on Friday, October 2nd. Evercore set a $33.00 price objective on shares of Artisan Partners Asset Management in a research note on Thursday, October 29th. TD Cowen cut their price objective on shares of Artisan Partners Asset Management from $37.00 to $33.00 and set a “hold” rating on the stock in a report on Monday, October 12th. Royal Bank Of Canada decreased their target price on shares of Artisan Partners Asset Management from $43.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, October 30th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Artisan Partners Asset Management in a research report on Tuesday, September 29th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $34.75.

Artisan Partners Asset Management Price Performance

APAM stock opened at $38.11 on Wednesday. Artisan Partners Asset Management has a 52-week low of $30.86 and a 52-week high of $46.53. The stock’s fifty day simple moving average is $36.17 and its 200-day simple moving average is $38.15. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 9.01 and a beta of 1.74.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings data on Tuesday, October 27th. The asset manager reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.07. The business had revenue of $312.52 million during the quarter, compared to the consensus estimate of $307.60 million. Artisan Partners Asset Management had a return on equity of 71.69% and a net margin of 24.54%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.02 earnings per share. Equities research analysts expect that Artisan Partners Asset Management will post 3.94 EPS for the current year.

Insider Buying and Selling at Artisan Partners Asset Management

In related news, EVP Gregory Ramirez sold 7,000 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $42.59, for a total value of $298,130.00. Following the transaction, the executive vice president directly owned 109,194 shares of the company’s stock, valued at approximately $4,650,572.46. This trade represents a 6.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 11.30% of the company’s stock.

Institutional Investors Weigh In On Artisan Partners Asset Management

A number of institutional investors have recently added to or reduced their stakes in APAM. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Artisan Partners Asset Management in the 3rd quarter worth about $2,444,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Artisan Partners Asset Management in the 2nd quarter valued at about $996,000. Squarepoint Ops LLC grew its holdings in shares of Artisan Partners Asset Management by 39.8% during the 2nd quarter. Squarepoint Ops LLC now owns 66,967 shares of the asset manager’s stock worth $2,312,000 after purchasing an additional 19,069 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Artisan Partners Asset Management by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,670,380 shares of the asset manager’s stock worth $60,782,000 after purchasing an additional 30,863 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of Artisan Partners Asset Management by 11.0% during the 1st quarter. Bank of America Corp DE now owns 343,520 shares of the asset manager’s stock worth $12,501,000 after purchasing an additional 33,921 shares during the period. Hedge funds and other institutional investors own 86.45% of the company’s stock.

Artisan Partners Asset Management Company Profile

Artisan Partners Asset Management is a global investment management firm that provides active investment strategies to institutional and individual investors. The firm manages portfolios through specialized investment teams, each with its own investment approach and research process. Its offerings include equity and fixed-income strategies spanning a range of styles, market sectors and geographies. These strategies are available through vehicles such as mutual funds and separate accounts, serving clients including institutions and financial intermediaries.