Artisan Partners Asset Management (APAM) PT Lowered to $27.00

Artisan Partners Asset Management (NYSE:APAM) had its target price cut by research analysts at Citigroup from $31.00 to $27.00 in a research report issued on Thursday. The brokerage presently has a “hold” rating on the asset manager’s stock. Citigroup’s price objective would indicate a potential upside of 1.12% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $34.00 price objective on shares of Artisan Partners Asset Management in a research note on Thursday, August 2nd. Zacks Investment Research raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Wednesday, July 11th. ValuEngine cut shares of Artisan Partners Asset Management from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 2nd. Royal Bank of Canada set a $34.00 price objective on shares of Artisan Partners Asset Management and gave the stock a “buy” rating in a research note on Thursday. Finally, Bank of America boosted their price objective on shares of Artisan Partners Asset Management from $33.00 to $34.00 and gave the stock an “underperform” rating in a research note on Thursday, August 2nd. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $32.80.

NYSE APAM opened at $26.70 on Thursday. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 11.08, a P/E/G ratio of 0.82 and a beta of 1.69. Artisan Partners Asset Management has a fifty-two week low of $26.29 and a fifty-two week high of $41.45. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 1.75.

Artisan Partners Asset Management (NYSE:APAM) last posted its earnings results on Tuesday, October 30th. The asset manager reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.03. The firm had revenue of $212.80 million for the quarter, compared to analysts’ expectations of $212.17 million. Artisan Partners Asset Management had a net margin of 11.60% and a return on equity of 213.82%. The company’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 earnings per share. As a group, sell-side analysts predict that Artisan Partners Asset Management will post 3.05 earnings per share for the current year.

Several institutional investors have recently modified their holdings of APAM. Cubist Systematic Strategies LLC boosted its position in Artisan Partners Asset Management by 26.2% during the second quarter. Cubist Systematic Strategies LLC now owns 9,584 shares of the asset manager’s stock valued at $289,000 after acquiring an additional 1,990 shares during the last quarter. Atria Investments LLC boosted its position in Artisan Partners Asset Management by 41.8% during the second quarter. Atria Investments LLC now owns 8,632 shares of the asset manager’s stock valued at $260,000 after acquiring an additional 2,543 shares during the last quarter. Greatmark Investment Partners Inc. boosted its position in Artisan Partners Asset Management by 6.2% during the third quarter. Greatmark Investment Partners Inc. now owns 50,925 shares of the asset manager’s stock valued at $1,650,000 after acquiring an additional 2,975 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Artisan Partners Asset Management by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,058,457 shares of the asset manager’s stock valued at $31,912,000 after acquiring an additional 3,850 shares during the last quarter. Finally, Swiss National Bank boosted its position in Artisan Partners Asset Management by 5.7% during the second quarter. Swiss National Bank now owns 86,900 shares of the asset manager’s stock valued at $2,620,000 after acquiring an additional 4,700 shares during the last quarter. 62.89% of the stock is currently owned by institutional investors.

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.

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