Artisan Partners Asset Management (NYSE:APAM – Get a rating) saw its price target lowered by Goldman Sachs Group from $33.50 to $30.00 in a research note released to investors on Thursday, Market assessments reports. The company currently has a neutral rating on the shares of the asset manager.
Several other research analysts also commented on the company. Keefe, Bruyette & Woods raised their price target on Artisan Partners Asset Management from $36.00 to $38.00 and gave the stock a stock performance rating in a Tuesday, June 28 research report. Citigroup lowered its price target on Artisan Partners Asset Management from $41.50 to $36.50 and set a neutral rating on the stock in a Tuesday, April 12 research note. To finish, StockNews.com moved Artisan Partners Asset Management from a buy rating to a hold rating in a Friday, May 6 research report. Four research analysts gave the stock a hold rating and one gave the stock a buy rating. According to MarketBeat.com, Artisan Partners Asset Management has an average rating of Hold and a consensus target price of $42.10.
Artisan Partners Asset Management Stock Performance
Shares of Equities Artisan Partners Asset Management opened at $35.74 on Thursday. The stock has a market capitalization of $2.82 billion, a price-earnings ratio of 7.48 and a beta of 1.74. Artisan Partners Asset Management has a 12-month low of $32.07 and a 12-month high of $53.29. The company’s fifty-day simple moving average is $36.24 and its 200-day simple moving average is $38.47. The company has a debt ratio of 0.79, a current ratio of 0.61 and a quick ratio of 0.61.
Artisan Partners Asset Management (NYSE:APAM – Get a rating) last released its quarterly results on Tuesday, April 26. The asset manager reported EPS of $0.98 for the quarter, matching the consensus estimate of $0.98. The company posted revenue of $281.60 million in the quarter, compared to $294.03 million expected by analysts. Artisan Partners Asset Management achieved a return on equity of 146.56% and a net margin of 26.65%. The company’s quarterly revenue decreased 3.1% from the same quarter last year. During the same period last year, the company achieved EPS of $1.13. As a group, stock analysts expect Artisan Partners Asset Management to post earnings per share of 3.38 for the current year.
Artisan Partners Asset Management cuts its dividends
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 31. Shareholders of record on Tuesday, May 17 received a dividend of $0.76 per share. This represents a dividend of $3.04 on an annualized basis and a yield of 8.51%. The ex-dividend date was Monday, May 16. Artisan Partners Asset Management’s dividend payout ratio (DPR) is currently 63.60%.
Institutional entries and exits
Several institutional investors have recently changed their stake in the company. Wolff Wiese Magana LLC increased its position in Artisan Partners Asset Management by 74.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 1,161 shares of the asset manager worth $41,000 after purchasing an additional 494 shares during the period. Raymond James Trust NA increased its position in Artisan Partners Asset Management by 3.4% in the second quarter. Raymond James Trust NA now owns 16,926 shares of the asset manager valued at $602,000 after buying an additional 561 shares last quarter. RDA Financial Network bought a new position in Artisan Partners Asset Management in the second quarter worth approximately $222,000. Richard P Slaughter Associates Inc increased its position in Artisan Partners Asset Management by 1.8% in Q2. Richard P Slaughter Associates Inc now owns 46,528 shares of the asset manager valued at $1,655,000 after acquiring an additional 811 shares during the period. Finally, Verition Fund Management LLC increased its equity stake in Artisan Partners Asset Management by 464.1% in the first quarter. Verition Fund Management LLC now owns 59,850 shares of the asset manager valued at $2,355,000 after purchasing an additional 49,240 shares during the period. 66.91% of the shares are currently held by institutional investors and hedge funds.
About Artisan Partners Asset Management
Artisan Partners Asset Management Inc is a public investment manager. It provides its services to pension and profit-sharing plans, trusts, endowments, foundations, charities, government entities, private funds and non-U.S. funds, as well as mutual funds, non-US funds and group trusts.
Receive daily news and reviews for Artisan Partners Asset Management – Enter your email address below to receive a concise daily summary of breaking news and analyst notes for Artisan Partners Asset Management and related companies with MarketBeat.com’s free daily email newsletter.