Artisan Partners Asset Management (NYSE:APAM) Stock Rating Reaffirmed by Royal Bank of Canada

Artisan Partners Asset Management (NYSE:APAM)‘s stock had its “outperform” rating reissued by equities researchers at Royal Bank of Canada in a note issued to investors on Monday, Benzinga reports. They presently have a $50.00 price target on the asset manager’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 15.07% from the company’s previous close.

A number of other analysts also recently commented on APAM. TD Cowen boosted their target price on Artisan Partners Asset Management from $38.00 to $39.00 and gave the stock a “hold” rating in a research report on Thursday. StockNews.com downgraded Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a research report on Friday.

Artisan Partners Asset Management Price Performance

Shares of Artisan Partners Asset Management stock traded down $0.26 during trading on Monday, reaching $43.45. The company’s stock had a trading volume of 19,586 shares, compared to its average volume of 458,993. The company has a quick ratio of 0.64, a current ratio of 0.56 and a debt-to-equity ratio of 0.54. Artisan Partners Asset Management has a 12-month low of $32.12 and a 12-month high of $46.75. The company has a market capitalization of $3.49 billion, a P/E ratio of 13.25 and a beta of 1.81. The business has a 50 day moving average price of $42.13 and a 200-day moving average price of $42.84.

Artisan Partners Asset Management (NYSE:APAM) last posted its quarterly earnings results on Tuesday, July 23rd. The asset manager reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). Artisan Partners Asset Management had a net margin of 22.75% and a return on equity of 71.76%. The business had revenue of $270.80 million during the quarter, compared to analysts’ expectations of $274.70 million. During the same quarter last year, the firm earned $0.71 earnings per share. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Artisan Partners Asset Management will post 3.41 EPS for the current year.

Hedge Funds Weigh In On Artisan Partners Asset Management

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Artisan Partners Asset Management by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 7,873,612 shares of the asset manager’s stock worth $347,856,000 after acquiring an additional 75,304 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Artisan Partners Asset Management by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,934,002 shares of the asset manager’s stock worth $85,444,000 after acquiring an additional 12,977 shares during the last quarter. Wasatch Advisors LP raised its holdings in shares of Artisan Partners Asset Management by 25.2% in 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 last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Artisan Partners Asset Management by 7.7% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,434,391 shares of the asset manager’s stock worth $59,197,000 after acquiring an additional 102,421 shares during the last quarter. Finally, Raymond James & Associates raised its holdings in shares of Artisan Partners Asset Management by 3.9% in the second quarter. Raymond James & Associates now owns 420,020 shares of the asset manager’s stock worth $17,334,000 after acquiring an additional 15,811 shares during the last quarter. 86.45% of the stock is owned by institutional investors and hedge funds.

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.