Artisan Partners Asset Management (NYSE:APAM) PT Lowered to $39.50

Artisan Partners Asset Management (NYSE:APAM) had its price objective dropped by investment analysts at The Goldman Sachs Group from $40.00 to $39.50 in a research report issued on Thursday, Benzinga reports. The firm presently has a “sell” rating on the asset manager’s stock. The Goldman Sachs Group’s target price indicates a potential downside of 7.82% from the company’s previous close.

A number of other brokerages have also issued reports on APAM. StockNews.com lowered shares of Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. TD Cowen raised 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 report on Thursday, July 25th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $50.00 target price on shares of Artisan Partners Asset Management in a research report on Monday, July 29th. One 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 stock. According to data from MarketBeat.com, Artisan Partners Asset Management has a consensus rating of “Hold” and an average target price of $42.83.

Artisan Partners Asset Management Stock Up 2.7 %

APAM stock opened at $42.85 on Thursday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.54. The stock has a market cap of $3.44 billion, a P/E ratio of 13.06 and a beta of 1.79. The company’s 50 day moving average is $41.27 and its two-hundred day moving average is $42.35. Artisan Partners Asset Management has a twelve month low of $32.12 and a twelve month high of $46.75.

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

Hedge Funds Weigh In On Artisan Partners Asset Management

A number of hedge funds and other institutional investors have recently bought and sold shares of APAM. Mather Group LLC. purchased a new position in Artisan Partners Asset Management in the 1st quarter valued at $26,000. MCF Advisors LLC purchased a new stake in shares of Artisan Partners Asset Management during the 1st quarter worth $31,000. GAMMA Investing LLC boosted its position in shares of Artisan Partners Asset Management by 81.5% during the 2nd quarter. GAMMA Investing LLC now owns 775 shares of the asset manager’s stock worth $32,000 after purchasing an additional 348 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in shares of Artisan Partners Asset Management during the 4th quarter worth $34,000. Finally, Pineridge Advisors LLC purchased a new stake in shares of Artisan Partners Asset Management during the 4th quarter worth $48,000. 86.45% of the stock is currently owned by hedge funds and other institutional investors.

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.