Artisan Partners Asset Management (NYSE:APAM) Downgraded to “C” at TheStreet

TheStreet lowered shares of Artisan Partners Asset Management (NYSE:APAM) from a b- rating to a c rating in a report issued on Monday morning, TheStreetRatingsTable reports.

APAM has been the topic of a number of other reports. Royal Bank of Canada restated a buy rating and issued a $34.00 price target on shares of Artisan Partners Asset Management in a research note on Monday, January 6th. Citigroup dropped their price target on Artisan Partners Asset Management from $40.00 to $24.50 and set a buy rating on the stock in a research note on Friday, March 13th. ValuEngine upgraded Artisan Partners Asset Management from a strong sell rating to a sell rating in a research note on Thursday, March 5th. Zacks Investment Research downgraded Artisan Partners Asset Management from a strong-buy rating to a hold rating in a research report on Monday. Finally, Bank of America lowered their target price on Artisan Partners Asset Management from $23.00 to $18.00 and set an underperform rating on the stock in a research report on Monday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $28.13.

Shares of APAM stock traded up $0.67 on Monday, reaching $19.99. The stock had a trading volume of 494,833 shares, compared to its average volume of 586,654. The stock has a market cap of $1.41 billion, a P/E ratio of 7.69, a price-to-earnings-growth ratio of 0.74 and a beta of 1.85. Artisan Partners Asset Management has a 1 year low of $17.69 and a 1 year high of $38.09. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.53 and a current ratio of 0.53. The company has a 50 day simple moving average of $28.73 and a 200 day simple moving average of $29.66.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings results on Tuesday, February 4th. The asset manager reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.02. The firm had revenue of $208.40 million for the quarter, compared to the consensus estimate of $207.35 million. Artisan Partners Asset Management had a return on equity of 180.34% and a net margin of 19.59%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period last year, the business posted $0.61 EPS. On average, equities research analysts anticipate that Artisan Partners Asset Management will post 2.82 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.68 per share. The ex-dividend date was Thursday, February 13th. This is an increase from Artisan Partners Asset Management’s previous quarterly dividend of $0.65. This represents a $2.72 annualized dividend and a yield of 13.61%. Artisan Partners Asset Management’s payout ratio is 101.87%.

In related news, Director Tench Coxe bought 50,000 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average cost of $21.02 per share, for a total transaction of $1,051,000.00. Following the completion of the transaction, the director now owns 61,631 shares of the company’s stock, valued at $1,295,483.62. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 24.44% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Artisan Partners Asset Management in the fourth quarter worth about $24,962,000. Renaissance Technologies LLC lifted its position in shares of Artisan Partners Asset Management by 13.4% during the 4th quarter. Renaissance Technologies LLC now owns 3,657,251 shares of the asset manager’s stock worth $118,202,000 after purchasing an additional 433,187 shares during the last quarter. Man Group plc lifted its position in shares of Artisan Partners Asset Management by 159.8% during the 4th quarter. Man Group plc now owns 559,794 shares of the asset manager’s stock worth $18,092,000 after purchasing an additional 344,331 shares during the last quarter. Nuveen Asset Management LLC lifted its position in shares of Artisan Partners Asset Management by 69.0% during the 4th quarter. Nuveen Asset Management LLC now owns 806,276 shares of the asset manager’s stock worth $26,058,000 after purchasing an additional 329,246 shares during the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of Artisan Partners Asset Management during the 3rd quarter worth $9,050,000. Institutional investors own 63.03% 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.

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