Artisan Partners Asset Management (NYSE:APAM) Stock Price Expected to Rise, TD Cowen Analyst Says

Artisan Partners Asset Management (NYSE:APAM) had its price objective boosted by analysts at TD Cowen from $41.00 to $43.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the asset manager’s stock. TD Cowen’s target price would suggest a potential downside of 3.33% from the company’s previous close.

Several other research firms have also commented on APAM. The Goldman Sachs Group lowered their price target on shares of Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. StockNews.com raised Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $50.00 price objective on shares of Artisan Partners Asset Management in a research 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 given a buy rating to the company. According to data from MarketBeat.com, Artisan Partners Asset Management has an average rating of “Hold” and an average price target of $44.17.

Artisan Partners Asset Management Stock Up 0.9 %

APAM opened at $44.48 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.71 and a current ratio of 0.68. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 12.39 and a beta of 1.79. Artisan Partners Asset Management has a one year low of $33.90 and a one year high of $47.08. The business’s fifty day moving average is $42.62 and its two-hundred day moving average is $42.25.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings data on Tuesday, October 29th. The asset manager reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. The business had revenue of $279.60 million for the quarter, compared to analyst estimates of $279.70 million. Artisan Partners Asset Management had a net margin of 23.95% and a return on equity of 71.51%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.75 EPS. Analysts anticipate that Artisan Partners Asset Management will post 3.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Artisan Partners Asset Management

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its position in Artisan Partners Asset Management by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,898 shares of the asset manager’s stock worth $270,000 after buying an additional 498 shares during the period. Commonwealth Equity Services LLC grew its holdings in Artisan Partners Asset Management by 176.7% in the first quarter. Commonwealth Equity Services LLC now owns 21,245 shares of the asset manager’s stock valued at $972,000 after purchasing an additional 13,568 shares during the period. Diversify Advisory Services LLC acquired a new position in Artisan Partners Asset Management during the first quarter worth approximately $299,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Artisan Partners Asset Management by 35.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,553 shares of the asset manager’s stock worth $2,314,000 after purchasing an additional 13,328 shares during the period. Finally, Texas Permanent School Fund Corp boosted its holdings in shares of Artisan Partners Asset Management by 1.5% in the 1st quarter. Texas Permanent School Fund Corp now owns 60,038 shares of the asset manager’s stock valued at $2,748,000 after purchasing an additional 890 shares during the last quarter. Hedge funds and other institutional investors 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.