Artisan Partners Asset Management (NYSE:APAM) PT Lowered to $39.50 at The Goldman Sachs Group

Artisan Partners Asset Management (NYSE:APAM) had its price target reduced by The Goldman Sachs Group from $40.00 to $39.50 in a research report sent to investors on Thursday, Benzinga reports. The Goldman Sachs Group currently has a sell rating on the asset manager’s stock.

APAM has been the topic of several other research reports. StockNews.com downgraded shares of Artisan Partners Asset Management from a buy rating to a hold rating in a research note on Friday, July 26th. Royal Bank of Canada reiterated an outperform rating and issued a $50.00 target price on shares of Artisan Partners Asset Management in a research note on Monday, July 29th. Finally, TD Cowen upped their target price on shares of Artisan Partners Asset Management from $38.00 to $39.00 and gave the stock a hold rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and an average target price of $42.83.

Artisan Partners Asset Management Price Performance

APAM stock opened at $42.90 on Thursday. The firm’s 50-day moving average price is $41.25 and its two-hundred day moving average price is $42.35. Artisan Partners Asset Management has a 12-month low of $32.12 and a 12-month high of $46.75. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of 13.08 and a beta of 1.79. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.54.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings results on Tuesday, July 23rd. The asset manager reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the prior year, the firm earned $0.71 EPS. Artisan Partners Asset Management’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, equities analysts predict that Artisan Partners Asset Management will post 3.36 earnings per share for the current year.

Artisan Partners Asset Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $0.71 per share. The ex-dividend date was Friday, August 16th. This represents a $2.84 annualized dividend and a yield of 6.62%. 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%.

Hedge Funds Weigh In On Artisan Partners Asset Management

Several institutional investors have recently bought and sold shares of APAM. SG Americas Securities LLC bought a new stake in shares of Artisan Partners Asset Management in the 3rd quarter worth about $725,000. Sage Advisors LLC lifted its holdings in shares of Artisan Partners Asset Management by 1.2% in the 2nd quarter. Sage Advisors LLC now owns 94,046 shares of the asset manager’s stock worth $3,881,000 after acquiring an additional 1,107 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Artisan Partners Asset Management in the 2nd quarter worth about $465,000. Quarry LP bought a new stake in shares of Artisan Partners Asset Management in the 2nd quarter worth about $63,000. Finally, Algert Global LLC bought a new stake in shares of Artisan Partners Asset Management in the 2nd quarter worth about $287,000. Institutional investors own 86.45% of the company’s stock.

Artisan Partners Asset Management Company Profile

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.