Artisan Partners Asset Management (NYSE:APAM) Given New $39.00 Price Target at TD Cowen

Artisan Partners Asset Management (NYSE:APAM) had its price objective raised by TD Cowen from $38.00 to $39.00 in a research note released on Thursday, Benzinga reports. They currently have a hold rating on the asset manager’s stock.

Artisan Partners Asset Management Trading Up 0.8 %

NYSE:APAM opened at $43.52 on Thursday. The stock has a market cap of $3.50 billion, a PE ratio of 13.16 and a beta of 1.81. Artisan Partners Asset Management has a fifty-two week low of $32.12 and a fifty-two week high of $46.75. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.56 and a quick ratio of 0.64. The stock’s 50-day moving average is $42.15 and its two-hundred day moving average is $42.84.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings data 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 net margin of 22.75% and a return on equity of 71.76%. The company had revenue of $270.80 million for the quarter, compared to analysts’ expectations of $274.70 million. During the same period in the previous year, the firm posted $0.71 earnings per share. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, equities research analysts forecast that Artisan Partners Asset Management will post 3.41 earnings per share for the current fiscal year.

Artisan Partners Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a dividend of $0.71 per share. This is a boost from Artisan Partners Asset Management’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.84 dividend on an annualized basis and a yield of 6.53%. Artisan Partners Asset Management’s dividend payout ratio (DPR) is presently 74.39%.

Institutional Investors Weigh In On Artisan Partners Asset Management

Several large investors have recently made changes to their positions in the company. Mather Group LLC. acquired a new position in Artisan Partners Asset Management during the first quarter worth $26,000. Allworth Financial LP raised its stake in shares of Artisan Partners Asset Management by 716.0% in the 4th quarter. Allworth Financial LP now owns 612 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 537 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in Artisan Partners Asset Management by 70.3% in the 4th quarter. Quadrant Capital Group LLC now owns 642 shares of the asset manager’s stock worth $28,000 after purchasing an additional 265 shares during the last quarter. MCF Advisors LLC bought a new stake in Artisan Partners Asset Management during the first quarter worth approximately $31,000. Finally, Principal Securities Inc. acquired a new position in Artisan Partners Asset Management during the fourth quarter valued at approximately $31,000. 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.