Artisan Partners Asset Management Inc. (NYSE:APAM) Given Consensus Recommendation of “Hold” by Analysts

Artisan Partners Asset Management Inc. (NYSE:APAM) has been assigned a consensus recommendation of “Hold” from the four ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $44.13.

A number of analysts have commented on the stock. The Goldman Sachs Group dropped their price target on shares of Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $50.00 target price on shares of Artisan Partners Asset Management in a report on Monday, July 29th. TD Cowen increased their price target on Artisan Partners Asset Management from $41.00 to $43.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Evercore ISI boosted their price objective on Artisan Partners Asset Management from $40.00 to $44.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Finally, StockNews.com raised Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th.

Artisan Partners Asset Management Trading Up 0.5 %

NYSE:APAM opened at $47.13 on Thursday. The firm has a market capitalization of $3.79 billion, a P/E ratio of 13.13 and a beta of 1.79. The business has a 50 day simple moving average of $43.62 and a 200 day simple moving average of $42.54. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.73 and a quick ratio of 0.73. Artisan Partners Asset Management has a 12-month low of $36.45 and a 12-month high of $49.52.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings data on Tuesday, October 29th. The asset manager reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. Artisan Partners Asset Management had a net margin of 23.95% and a return on equity of 71.50%. The firm had revenue of $279.60 million for the quarter, compared to the consensus estimate of $279.70 million. During the same period last year, the firm posted $0.75 EPS. Artisan Partners Asset Management’s quarterly revenue was up 12.4% compared to the same quarter last year. Equities research analysts predict that Artisan Partners Asset Management will post 3.49 EPS for the current year.

Artisan Partners Asset Management Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $3.28 annualized dividend and a yield of 6.96%. Artisan Partners Asset Management’s dividend payout ratio (DPR) is presently 79.11%.

Institutional Investors Weigh In On Artisan Partners Asset Management

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APAM. Matrix Trust Co acquired a new stake in shares of Artisan Partners Asset Management during the 3rd quarter valued at about $30,000. GAMMA Investing LLC lifted its stake in Artisan Partners Asset Management by 81.5% in the second quarter. GAMMA Investing LLC now owns 775 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 348 shares during the last quarter. Hexagon Capital Partners LLC grew its position in Artisan Partners Asset Management by 41.8% in the third quarter. Hexagon Capital Partners LLC now owns 1,004 shares of the asset manager’s stock worth $43,000 after acquiring an additional 296 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Artisan Partners Asset Management by 735.9% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,212 shares of the asset manager’s stock worth $52,000 after acquiring an additional 1,067 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Artisan Partners Asset Management during the 2nd quarter worth $63,000. Hedge funds and other institutional investors own 86.45% of the company’s stock.

About Artisan Partners Asset Management

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.