Evercore ISI Issues Positive Forecast for Artisan Partners Asset Management (NYSE:APAM) Stock Price

Artisan Partners Asset Management (NYSE:APAM) had its target price upped by equities researchers at Evercore ISI from $40.00 to $44.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “in-line” rating on the asset manager’s stock. Evercore ISI’s price objective suggests a potential downside of 10.19% from the company’s current price.

APAM has been the topic of a number of other research reports. 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. TD Cowen increased their price target on Artisan Partners Asset Management from $41.00 to $43.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. StockNews.com upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, The Goldman Sachs Group cut their target price on Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating for the company in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Artisan Partners Asset Management currently has an average rating of “Hold” and an average price target of $44.13.

Artisan Partners Asset Management Price Performance

Artisan Partners Asset Management stock opened at $48.99 on Thursday. Artisan Partners Asset Management has a 12 month low of $34.94 and a 12 month high of $49.30. The stock’s 50 day moving average is $42.94 and its 200-day moving average is $42.35. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 13.65 and a beta of 1.79.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings results on Tuesday, October 29th. The asset manager reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $279.60 million for the quarter, compared to the consensus estimate of $279.70 million. Artisan Partners Asset Management had a return on equity of 71.51% and a net margin of 23.95%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.75 earnings per share. Equities research analysts expect that Artisan Partners Asset Management will post 3.49 EPS for the current year.

Institutional Trading of Artisan Partners Asset Management

A number of hedge funds have recently made changes to their positions in APAM. UniSuper Management Pty Ltd acquired a new stake in Artisan Partners Asset Management in the first quarter valued at $734,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Artisan Partners Asset Management by 11.9% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 400,134 shares of the asset manager’s stock valued at $18,314,000 after buying an additional 42,522 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in shares of Artisan Partners Asset Management by 7.7% during 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. Jupiter Asset Management Ltd. bought a new position in shares of Artisan Partners Asset Management during the first quarter worth about $9,907,000. Finally, Raymond James & Associates lifted its stake in shares of Artisan Partners Asset Management by 8.0% in the third quarter. Raymond James & Associates now owns 453,638 shares of the asset manager’s stock worth $19,652,000 after acquiring an additional 33,618 shares during the period. 86.45% of the stock is owned by institutional investors and hedge funds.

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.