TD Cowen Cuts Artisan Partners Asset Management (NYSE:APAM) Price Target to $35.00

Artisan Partners Asset Management (NYSE:APAM) had its price objective trimmed by TD Cowen from $46.00 to $35.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the asset manager’s stock.

Several other research firms have also recently commented on APAM. StockNews.com cut Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a research note on Tuesday. Royal Bank of Canada reduced their price objective on shares of Artisan Partners Asset Management from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $39.63.

Artisan Partners Asset Management Stock Performance

Artisan Partners Asset Management stock opened at $35.50 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.56 and a quick ratio of 0.73. The firm’s fifty day moving average price is $40.75 and its 200 day moving average price is $43.47. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 9.75 and a beta of 1.80. Artisan Partners Asset Management has a 12-month low of $32.75 and a 12-month high of $49.54.

Artisan Partners Asset Management (NYSE:APAM) last announced its earnings results on Tuesday, February 4th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.08. Artisan Partners Asset Management had a return on equity of 74.02% and a net margin of 23.36%. On average, research analysts forecast that Artisan Partners Asset Management will post 3.6 EPS for the current fiscal year.

Artisan Partners Asset Management Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.63%. The ex-dividend date was Friday, February 14th. Artisan Partners Asset Management’s dividend payout ratio is currently 92.31%.

Hedge Funds Weigh In On Artisan Partners Asset Management

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its position in shares of Artisan Partners Asset Management by 4.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,775,314 shares of the asset manager’s stock worth $76,920,000 after buying an additional 82,868 shares during the last quarter. Principal Financial Group Inc. raised its stake in Artisan Partners Asset Management by 3.3% during the fourth quarter. Principal Financial Group Inc. now owns 341,336 shares of the asset manager’s stock worth $14,695,000 after acquiring an additional 10,802 shares during the period. Oppenheimer & Co. Inc. bought a new position in Artisan Partners Asset Management in the fourth quarter worth about $255,000. Jennison Associates LLC boosted its stake in Artisan Partners Asset Management by 60.8% in the fourth quarter. Jennison Associates LLC now owns 42,759 shares of the asset manager’s stock valued at $1,841,000 after acquiring an additional 16,166 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Artisan Partners Asset Management by 18.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,592 shares of the asset manager’s stock valued at $2,225,000 after acquiring an additional 7,966 shares during the period. Institutional investors and hedge funds 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.