Artisan Partners Asset Management (NYSE:APAM) Hits New 52-Week High – Should You Buy?

Artisan Partners Asset Management Inc. (NYSE:APAM)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $49.54 and last traded at $49.29, with a volume of 22978 shares. The stock had previously closed at $49.10.

Wall Street Analyst Weigh In

APAM has been the subject of a number of recent research reports. TD Cowen increased their target price on shares of 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. The Goldman Sachs Group lowered their price objective on Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. StockNews.com upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Finally, Evercore ISI boosted their price target on Artisan Partners Asset Management from $40.00 to $44.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Artisan Partners Asset Management has an average rating of “Hold” and a consensus target price of $44.13.

Artisan Partners Asset Management Stock Down 0.7 %

The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average of $45.36 and a two-hundred day moving average of $42.93. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 13.68 and a beta of 1.79.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $279.70 million. Artisan Partners Asset Management had a net margin of 23.95% and a return on equity of 71.50%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 EPS. As a group, sell-side analysts anticipate that Artisan Partners Asset Management Inc. will post 3.49 EPS for the current fiscal year.

Artisan Partners Asset Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.82 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $3.28 annualized dividend and a yield of 6.73%. Artisan Partners Asset Management’s dividend payout ratio is presently 91.37%.

Hedge Funds Weigh In On Artisan Partners Asset Management

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Matrix Trust Co acquired a new stake in shares of Artisan Partners Asset Management during the third quarter worth $30,000. GAMMA Investing LLC lifted its stake in shares of Artisan Partners Asset Management by 81.5% in the 2nd quarter. GAMMA Investing LLC now owns 775 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 348 shares during the period. Hexagon Capital Partners LLC boosted its position in shares of Artisan Partners Asset Management by 41.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,004 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 296 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in Artisan Partners Asset Management by 735.9% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,212 shares of the asset manager’s stock worth $52,000 after purchasing an additional 1,067 shares during the period. Finally, Quarry LP bought a new stake in Artisan Partners Asset Management in the second quarter worth approximately $63,000. 86.45% of the stock is currently 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.