Artisan Partners Asset Management (NYSE:APAM) PT Lowered to $37.00 at TD Cowen

Artisan Partners Asset Management (NYSE:APAM) had its target price decreased by TD Cowen from $42.00 to $37.00 in a research note published on Monday, Benzinga reports. TD Cowen currently has a hold rating on the asset manager’s stock.

Separately, StockNews.com upgraded Artisan Partners Asset Management from a hold rating to a buy rating in a research note on Sunday, March 17th.

Artisan Partners Asset Management Stock Performance

Shares of APAM opened at $39.95 on Monday. The business’s fifty day moving average price is $42.53 and its 200 day moving average price is $42.95. Artisan Partners Asset Management has a 12-month low of $32.12 and a 12-month high of $46.75. The stock has a market capitalization of $3.21 billion, a PE ratio of 12.18 and a beta of 1.81. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.64 and a quick ratio of 0.64.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings data on Wednesday, April 24th. The asset manager reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.03). Artisan Partners Asset Management had a return on equity of 72.77% and a net margin of 22.99%. The firm had revenue of $264.40 million for the quarter, compared to the consensus estimate of $270.90 million. During the same quarter last year, the business earned $0.64 earnings per share. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. Equities research analysts forecast that Artisan Partners Asset Management will post 3.41 EPS for the current year.

Artisan Partners Asset Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.11%. The ex-dividend date was Thursday, May 16th. Artisan Partners Asset Management’s dividend payout ratio is currently 74.39%.

Institutional Investors Weigh In On Artisan Partners Asset Management

A number of hedge funds and other institutional investors have recently modified their holdings of APAM. Vaughan Nelson Investment Management L.P. grew its holdings in Artisan Partners Asset Management by 42.5% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,331,970 shares of the asset manager’s stock worth $60,965,000 after acquiring an additional 397,424 shares during the period. Wasatch Advisors LP grew its holdings in Artisan Partners Asset Management by 25.2% during the fourth quarter. Wasatch Advisors LP now owns 1,581,267 shares of the asset manager’s stock worth $69,860,000 after acquiring an additional 318,355 shares during the period. Jupiter Asset Management Ltd. acquired a new position in Artisan Partners Asset Management during the first quarter worth about $9,907,000. Edgestream Partners L.P. acquired a new position in Artisan Partners Asset Management during the first quarter worth about $7,287,000. Finally, Meritage Portfolio Management purchased a new position in Artisan Partners Asset Management in the 1st quarter worth about $4,209,000. 86.45% of the stock is currently owned by institutional investors.

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.