Artisan Partners Asset Management (NYSE:APAM) Stock Price Up 5.9%

Artisan Partners Asset Management Inc (NYSE:APAM) rose 5.9% during trading on Thursday . The company traded as high as $27.88 and last traded at $27.84. Approximately 452,794 shares were traded during trading, a decline of 4% from the average daily volume of 473,243 shares. The stock had previously closed at $26.29.

APAM has been the topic of a number of research analyst reports. TheStreet upgraded shares of Artisan Partners Asset Management from a “c+” rating to a “b-” rating in a research note on Monday, April 15th. Citigroup upgraded shares of Artisan Partners Asset Management from a “sell” rating to a “neutral” rating and set a $25.00 target price for the company in a report on Monday, April 15th. Bank of America set a $25.00 target price on shares of Artisan Partners Asset Management and gave the stock a “sell” rating in a report on Tuesday, April 9th. ValuEngine upgraded shares of Artisan Partners Asset Management from a “strong sell” rating to a “sell” rating in a report on Tuesday, April 9th. Finally, Zacks Investment Research upgraded shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $29.60.

The firm has a market cap of $2.14 billion, a PE ratio of 9.36, a P/E/G ratio of 1.54 and a beta of 1.80. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 3.30. The business has a fifty day moving average of $25.69.

Artisan Partners Asset Management (NYSE:APAM) last issued its earnings results on Tuesday, April 30th. The asset manager reported $0.55 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.55. The firm had revenue of $187.00 million during the quarter, compared to analysts’ expectations of $186.26 million. Artisan Partners Asset Management had a net margin of 18.48% and a return on equity of 172.79%. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period last year, the firm posted $0.78 earnings per share. As a group, equities analysts forecast that Artisan Partners Asset Management Inc will post 2.59 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 7.99%. The ex-dividend date was Thursday, May 16th. Artisan Partners Asset Management’s dividend payout ratio is 74.83%.

A number of institutional investors have recently bought and sold shares of APAM. FMR LLC raised its holdings in shares of Artisan Partners Asset Management by 3,865,000.0% during the 1st quarter. FMR LLC now owns 38,651 shares of the asset manager’s stock valued at $973,000 after purchasing an additional 38,650 shares in the last quarter. Advisory Services Network LLC raised its holdings in Artisan Partners Asset Management by 14.1% in the 1st quarter. Advisory Services Network LLC now owns 20,580 shares of the asset manager’s stock worth $518,000 after acquiring an additional 2,545 shares during the period. Marshall Wace LLP raised its holdings in Artisan Partners Asset Management by 29.5% in the 1st quarter. Marshall Wace LLP now owns 775,236 shares of the asset manager’s stock worth $19,512,000 after acquiring an additional 176,717 shares during the period. Sapience Investments LLC raised its holdings in Artisan Partners Asset Management by 5.3% in the 1st quarter. Sapience Investments LLC now owns 378,360 shares of the asset manager’s stock worth $9,523,000 after acquiring an additional 19,050 shares during the period. Finally, Xact Kapitalforvaltning AB bought a new position in Artisan Partners Asset Management in the 1st quarter worth $222,000. 63.55% of the stock is owned by hedge funds and other institutional investors.

Artisan Partners Asset Management Company Profile (NYSE:APAM)

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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