Evercore ISI Issues Pessimistic Forecast for Artisan Partners Asset Management (NYSE:APAM) Stock Price

Artisan Partners Asset Management (NYSE:APAM) had its price target trimmed by Evercore ISI from $40.00 to $33.00 in a research report released on Friday morning,Benzinga reports. The firm currently has an in-line rating on the asset manager’s stock.

A number of other brokerages also recently weighed in on APAM. TD Cowen lowered their price target on Artisan Partners Asset Management from $46.00 to $35.00 and set a “hold” rating on the stock in a research report on Wednesday, April 9th. StockNews.com downgraded Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a research note on Tuesday, April 8th. Finally, Royal Bank of Canada dropped their price target on 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $39.63.

Artisan Partners Asset Management Price Performance

NYSE:APAM opened at $35.50 on Friday. The stock has a market capitalization of $2.85 billion, a PE ratio of 9.75 and a beta of 1.80. Artisan Partners Asset Management has a 1-year low of $32.75 and a 1-year high of $49.54. The firm has a fifty day simple moving average of $40.75 and a 200 day simple moving average of $43.47. The company has a current ratio of 0.56, a quick ratio of 0.73 and a debt-to-equity ratio of 0.47.

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

Artisan Partners Asset Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.00 annualized dividend and a yield of 5.63%. Artisan Partners Asset Management’s dividend payout ratio (DPR) is presently 92.31%.

Hedge Funds Weigh In On Artisan Partners Asset Management

Several institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in shares of Artisan Partners Asset Management in the fourth quarter valued at about $20,607,000. Channing Capital Management LLC boosted its holdings in Artisan Partners Asset Management by 14.5% in the 4th quarter. Channing Capital Management LLC now owns 1,770,526 shares of the asset manager’s stock valued at $76,221,000 after purchasing an additional 224,455 shares during the period. Millennium Management LLC grew its position in shares of Artisan Partners Asset Management by 98.2% during the 4th quarter. Millennium Management LLC now owns 439,057 shares of the asset manager’s stock worth $18,901,000 after purchasing an additional 217,552 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Artisan Partners Asset Management by 3,041.5% during the fourth quarter. Hsbc Holdings PLC now owns 150,730 shares of the asset manager’s stock worth $6,495,000 after purchasing an additional 145,932 shares during the period. Finally, Norges Bank bought a new position in shares of Artisan Partners Asset Management during the fourth quarter worth approximately $5,627,000. Institutional investors and hedge funds own 86.45% 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.