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

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

A number of other equities research analysts have also recently issued reports on the company. ValuEngine upgraded Artisan Partners Asset Management from a strong sell rating to a sell rating in a research note on Thursday, March 5th. Bank of America dropped their price objective on Artisan Partners Asset Management from $23.00 to $18.00 and set an underperform rating on the stock in a research note on Monday. Zacks Investment Research cut Artisan Partners Asset Management from a strong-buy rating to a hold rating in a research note on Monday. Citigroup dropped their price objective 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. Finally, Royal Bank of Canada reiterated a buy rating and set a $34.00 price objective on shares of Artisan Partners Asset Management in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $28.13.

Shares of Artisan Partners Asset Management stock traded up $0.67 during trading on Monday, hitting $19.99. 494,833 shares of the company were exchanged, compared to its average volume of 586,654. The firm has a market capitalization 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 firm’s fifty day moving average price is $28.73 and its 200 day moving average price is $29.66. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.53 and a quick ratio of 0.53.

Artisan Partners Asset Management (NYSE:APAM) last posted its earnings results on Tuesday, February 4th. The asset manager reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.02. Artisan Partners Asset Management had a return on equity of 180.34% and a net margin of 19.59%. The company had revenue of $208.40 million during the quarter, compared to analyst estimates of $207.35 million. During the same period in the previous year, the company earned $0.61 EPS. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Artisan Partners Asset Management will post 2.82 earnings per share for the current year.

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

In other Artisan Partners Asset Management news, Director Tench Coxe purchased 50,000 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average price of $21.02 per share, for a total transaction of $1,051,000.00. Following the purchase, the director now owns 61,631 shares in the company, valued at $1,295,483.62. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 24.44% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. O Shares Investment Advisers LLC boosted its position in Artisan Partners Asset Management by 1.4% in the fourth quarter. O Shares Investment Advisers LLC now owns 20,906 shares of the asset manager’s stock worth $676,000 after purchasing an additional 286 shares during the last quarter. Amalgamated Bank raised its position in shares of Artisan Partners Asset Management by 4.7% in the 4th quarter. Amalgamated Bank now owns 8,550 shares of the asset manager’s stock worth $276,000 after acquiring an additional 384 shares in the last quarter. Westpac Banking Corp raised its position in shares of Artisan Partners Asset Management by 0.5% in the 4th quarter. Westpac Banking Corp now owns 75,770 shares of the asset manager’s stock worth $2,449,000 after acquiring an additional 400 shares in the last quarter. Raymond James Trust N.A. raised its position in shares of Artisan Partners Asset Management by 5.4% in the 4th quarter. Raymond James Trust N.A. now owns 9,975 shares of the asset manager’s stock worth $322,000 after acquiring an additional 511 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in shares of Artisan Partners Asset Management by 43.8% in the 4th quarter. Point72 Asset Management L.P. now owns 2,300 shares of the asset manager’s stock worth $74,000 after acquiring an additional 700 shares in the last quarter. Institutional investors and hedge funds 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.

Further Reading: Asset Allocation, Balancing Your Investments

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