Artisan Partners Asset Management (NYSE:APAM) Given New $39.50 Price Target at The Goldman Sachs Group

Artisan Partners Asset Management (NYSE:APAM) had its target price reduced by The Goldman Sachs Group from $40.00 to $39.50 in a report released on Thursday morning, Benzinga reports. They currently have a sell rating on the asset manager’s stock.

Other equities research analysts have also issued research reports about the stock. StockNews.com lowered shares of Artisan Partners Asset Management from a buy rating to a hold rating in a report on Friday, July 26th. Royal Bank of Canada reissued an outperform rating and set a $50.00 price target on shares of Artisan Partners Asset Management in a research report on Monday, July 29th. Finally, TD Cowen upped their target price on shares of Artisan Partners Asset Management from $38.00 to $39.00 and gave the stock a hold rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Artisan Partners Asset Management has an average rating of Hold and a consensus price target of $42.83.

Artisan Partners Asset Management Stock Up 2.8 %

Shares of Artisan Partners Asset Management stock opened at $42.90 on Thursday. The firm’s 50 day moving average price is $41.25 and its 200-day moving average price is $42.35. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.54. Artisan Partners Asset Management has a 52-week low of $32.12 and a 52-week high of $46.75. The company has a market cap of $3.45 billion, a P/E ratio of 13.08 and a beta of 1.79.

Artisan Partners Asset Management (NYSE:APAM) last released its earnings results on Tuesday, July 23rd. The asset manager reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). Artisan Partners Asset Management had a return on equity of 71.76% and a net margin of 22.75%. The company had revenue of $270.80 million during the quarter, compared to analyst estimates of $274.70 million. During the same quarter last year, the business earned $0.71 earnings per share. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, sell-side analysts predict that Artisan Partners Asset Management will post 3.36 EPS for the current fiscal year.

Artisan Partners Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a $0.71 dividend. The ex-dividend date was Friday, August 16th. This represents a $2.84 dividend on an annualized basis and a yield of 6.62%. This is an increase from Artisan Partners Asset Management’s previous quarterly dividend of $0.61. Artisan Partners Asset Management’s dividend payout ratio (DPR) is 86.59%.

Institutional Investors Weigh In On Artisan Partners Asset Management

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in Artisan Partners Asset Management in the third quarter valued at $725,000. Sage Advisors LLC increased its position in shares of Artisan Partners Asset Management by 1.2% in the second quarter. Sage Advisors LLC now owns 94,046 shares of the asset manager’s stock valued at $3,881,000 after buying an additional 1,107 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Artisan Partners Asset Management in the second quarter valued at $465,000. Quarry LP purchased a new position in shares of Artisan Partners Asset Management in the second quarter valued at $63,000. Finally, Algert Global LLC purchased a new position in shares of Artisan Partners Asset Management in the second quarter valued at $287,000. 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.