Artisan Partners Asset Management (NYSE:APAM) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Artisan Partners Asset Management (NYSE:APAM) from a hold rating to a buy rating in a report released on Wednesday.

A number of other equities analysts have also recently issued reports on APAM. TD Cowen increased their price objective on shares of Artisan Partners Asset Management from $38.00 to $39.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. The Goldman Sachs Group cut their price target on Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating on the stock in a report on Thursday, October 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $50.00 price objective on shares of Artisan Partners Asset Management in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $42.83.

Artisan Partners Asset Management Trading Down 2.1 %

NYSE APAM opened at $43.20 on Wednesday. Artisan Partners Asset Management has a one year low of $32.12 and a one year high of $47.08. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.71. The business has a 50 day simple moving average of $42.22 and a 200 day simple moving average of $42.28. The stock has a market capitalization of $3.47 billion, a P/E ratio of 13.17 and a beta of 1.79.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings data on Tuesday, July 23rd. The asset manager reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.05). The company had revenue of $270.80 million during the quarter, compared to the consensus estimate of $274.70 million. Artisan Partners Asset Management had a net margin of 22.75% and a return on equity of 71.76%. The business’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.71 EPS. Research analysts expect that Artisan Partners Asset Management will post 3.36 earnings per share for the current year.

Hedge Funds Weigh In On Artisan Partners Asset Management

A number of hedge funds have recently added to or reduced their stakes in APAM. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Artisan Partners Asset Management by 14.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,626 shares of the asset manager’s stock valued at $1,840,000 after purchasing an additional 5,286 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Artisan Partners Asset Management by 22.6% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 43,969 shares of the asset manager’s stock valued at $1,905,000 after acquiring an additional 8,095 shares in the last quarter. Romano Brothers AND Company lifted its stake in Artisan Partners Asset Management by 3.5% during the 3rd quarter. Romano Brothers AND Company now owns 70,378 shares of the asset manager’s stock valued at $3,049,000 after acquiring an additional 2,409 shares in the last quarter. Greenleaf Trust purchased a new position in Artisan Partners Asset Management during the 3rd quarter worth $431,000. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in shares of Artisan Partners Asset Management by 735.9% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,212 shares of the asset manager’s stock worth $52,000 after acquiring an additional 1,067 shares in the last quarter. 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.