Trading Report: The Artisan Partners Asset Management Inc. (APAM) Upgraded at Zacks Investment Research

The Artisan Partners Asset Management Inc. (APAM) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Artisan Partners Asset Management Inc. (NYSE:APAM) from a hold rating to a buy rating in a report published on Thursday. They currently have $31.00 price objective on the stock.

According to Zacks, “Artisan Partners Asset Management Inc. is an independent investment management firm that provides a broad range of U.S., non-U.S. and global equity investment strategies. The Company’s manages investments primarily through mutual funds and separate accounts. Its clients include pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. pooled investment vehicles. Artisan Partners Asset Management Inc. is based in Milwaukee, WI United States. “

A number of other research firms have also commented on APAM. RBC Capital Markets lowered shares of Artisan Partners Asset Management from an outperform rating to a sector perform rating and lowered their price target for the company from $38.00 to $31.00 in a report on Monday, July 25th. Keefe, Bruyette & Woods decreased their price objective on shares of Artisan Partners Asset Management from $30.00 to $28.00 and set a market perform rating for the company in a report on Wednesday, July 27th. Credit Suisse Group AG lowered shares of Artisan Partners Asset Management from an outperform rating to a neutral rating and set a $26.00 price objective for the company. in a report on Thursday, July 14th. Jefferies Group restated a hold rating and issued a $29.00 price objective on shares of Artisan Partners Asset Management in a report on Tuesday, September 13th. Finally, Bank of America Corp. lowered shares of Artisan Partners Asset Management from a neutral rating to an underperform rating in a report on Tuesday, June 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. Artisan Partners Asset Management currently has an average rating of Hold and an average price target of $29.10.

Artisan Partners Asset Management (NYSE:APAM) opened at 27.60 on Thursday. The company’s 50-day moving average is $27.10 and its 200 day moving average is $29.28. Artisan Partners Asset Management has a 12-month low of $23.65 and a 12-month high of $40.62. The stock has a market capitalization of $1.16 billion, a PE ratio of 16.76 and a beta of 1.70.

Artisan Partners Asset Management (NYSE:APAM) last posted its quarterly earnings results on Monday, July 25th. The company reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.57 by $0.04. Artisan Partners Asset Management had a net margin of 9.80% and a return on equity of 141.04%. The firm had revenue of $180.80 million for the quarter, compared to the consensus estimate of $181.65 million. During the same quarter in the prior year, the company earned $0.74 earnings per share. The company’s quarterly revenue was down 14.5% compared to the same quarter last year. On average, equities research analysts expect that Artisan Partners Asset Management will post $2.14 earnings per share for the current fiscal year.

In other news, Director Stephanie Dimarco acquired 1,078 shares of the business’s stock in a transaction that occurred on Wednesday, November 30th. The shares were bought at an average cost of $38.95 per share, with a total value of $41,988.10. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 40.29% of the company’s stock.

A number of hedge funds have recently made changes to their positions in APAM. Denver Investment Advisors LLC purchased a new stake in shares of Artisan Partners Asset Management during the second quarter valued at approximately $15,533,000. Schroder Investment Management Group increased its stake in shares of Artisan Partners Asset Management by 867.6% in the second quarter. Schroder Investment Management Group now owns 562,039 shares of the company’s stock valued at $15,557,000 after buying an additional 503,951 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in shares of Artisan Partners Asset Management by 19.8% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,939,899 shares of the company’s stock valued at $53,696,000 after buying an additional 321,202 shares during the period. Neuberger Berman Group LLC increased its stake in shares of Artisan Partners Asset Management by 25.2% in the second quarter. Neuberger Berman Group LLC now owns 1,400,077 shares of the company’s stock valued at $38,754,000 after buying an additional 281,444 shares during the period. Finally, Global X Management Co. LLC purchased a new stake in shares of Artisan Partners Asset Management during the second quarter valued at approximately $6,959,000. 55.90% of the stock is currently owned by institutional investors.

About Artisan Partners Asset Management

Artisan Partners Asset Management Inc is an investment management firm focused on providing investment strategies to clients around the global. The Company’s operations are conducted through Artisan Partners Holdings LP and its subsidiaries. It operates in the investment management industry. The Company provides investment management services to separate accounts and mutual funds, and other pooled investment vehicles.

Related posts

Leave a Comment