Artisan Partners Asset Management (NYSE:APAM) Rating Reiterated by Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Artisan Partners Asset Management (NYSE:APAM) in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a $50.00 target price on the asset manager’s stock.

Several other equities analysts also recently commented on the stock. TD Cowen increased their price objective on shares of Artisan Partners Asset Management from $38.00 to $39.00 and gave the company a hold rating in a research note on Thursday, July 25th. StockNews.com cut Artisan Partners Asset Management from a buy rating to a hold rating in a research note on Friday, July 26th.

Artisan Partners Asset Management Price Performance

Artisan Partners Asset Management stock opened at $42.37 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.64 and a current ratio of 0.71. Artisan Partners Asset Management has a 52 week low of $32.12 and a 52 week high of $46.75. The stock has a market capitalization of $3.41 billion, a P/E ratio of 13.01 and a beta of 1.81. The stock has a fifty day moving average of $42.01 and a 200-day moving average of $42.86.

Artisan Partners Asset Management (NYSE:APAM) last issued its earnings results on Tuesday, July 23rd. The asset manager reported $0.82 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.05). The business had revenue of $270.80 million for the quarter, compared to analyst estimates of $274.70 million. Artisan Partners Asset Management had a return on equity of 71.76% and a net margin of 22.75%. The firm’s revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 EPS. On average, sell-side analysts expect that Artisan Partners Asset Management will post 3.36 earnings per share for the current fiscal year.

Artisan Partners Asset Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 6.70%. The ex-dividend date is Friday, August 16th. This is a positive change from Artisan Partners Asset Management’s previous quarterly dividend of $0.61. Artisan Partners Asset Management’s dividend payout ratio (DPR) is 86.59%.

Institutional Investors Weigh In On Artisan Partners Asset Management

Institutional investors have recently added to or reduced their stakes in the business. Mather Group LLC. acquired a new position in shares of Artisan Partners Asset Management during the first quarter worth $26,000. Allworth Financial LP lifted its holdings in Artisan Partners Asset Management by 716.0% during the 4th quarter. Allworth Financial LP now owns 612 shares of the asset manager’s stock worth $27,000 after buying an additional 537 shares during the period. Quadrant Capital Group LLC grew its position in shares of 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 valued at $28,000 after buying an additional 265 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Artisan Partners Asset Management in the fourth quarter valued at about $31,000. Finally, MCF Advisors LLC bought a new position in shares of Artisan Partners Asset Management during the first quarter worth about $31,000. 86.45% of the stock is owned by institutional investors.

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.