Artisan Partners Asset Management Inc (APAM) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Artisan Partners Asset Management Inc (NYSE:APAM) from a hold rating to a buy rating in a research report report published on Friday, April 14th. The brokerage currently has $31.00 target price on the asset manager’s stock.

According to Zacks, “Artisan Partners Asset Management Inc. is an independent investment management firm that provides a broad range of U.S., non-U.S. and global equity investment strategies. The Company’s manages investments primarily through mutual funds and separate accounts. Its clients include pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. pooled investment vehicles. Artisan Partners Asset Management Inc. is based in Milwaukee, WI United States. “

APAM has been the topic of several other research reports. Goldman Sachs Group Inc cut Artisan Partners Asset Management from a neutral rating to a sell rating and dropped their price target for the company from $29.00 to $26.00 in a report on Wednesday, January 4th. Jefferies Group LLC set a $28.00 price target on Artisan Partners Asset Management and gave the company a hold rating in a report on Tuesday, January 10th. Sidoti started coverage on shares of Artisan Partners Asset Management in a research note on Thursday, March 30th. They set a neutral rating and a $31.00 target price on the stock. Finally, Citigroup Inc boosted their target price on shares of Artisan Partners Asset Management from $27.00 to $27.50 and gave the company a neutral rating in a research note on Wednesday, January 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $28.56.

Shares of Artisan Partners Asset Management (NYSE:APAM) traded up 2.37% during trading on Friday, hitting $28.05. The stock had a trading volume of 171,053 shares. The firm has a market cap of $1.38 billion, a P/E ratio of 17.64 and a beta of 1.77. The firm’s 50-day moving average is $28.21 and its 200-day moving average is $28.65. Artisan Partners Asset Management has a one year low of $24.48 and a one year high of $33.50.

Artisan Partners Asset Management (NYSE:APAM) last announced its earnings results on Thursday, April 27th. The asset manager reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The firm had revenue of $184.10 million for the quarter, compared to analysts’ expectations of $182.36 million. Artisan Partners Asset Management had a return on equity of 130.11% and a net margin of 10.13%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.51 earnings per share. Equities research analysts forecast that Artisan Partners Asset Management will post $2.25 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 31st. Investors of record on Wednesday, May 17th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 8.76%. The ex-dividend date of this dividend is Monday, May 15th. Artisan Partners Asset Management’s dividend payout ratio is presently 153.85%.

A number of large investors have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Artisan Partners Asset Management by 0.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,106 shares of the asset manager’s stock worth $224,000 after buying an additional 47 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Artisan Partners Asset Management by 0.3% in the first quarter. Alliancebernstein L.P. now owns 19,918 shares of the asset manager’s stock worth $550,000 after buying an additional 50 shares in the last quarter. Tdam USA Inc. boosted its stake in shares of Artisan Partners Asset Management by 0.5% in the first quarter. Tdam USA Inc. now owns 22,102 shares of the asset manager’s stock worth $610,000 after buying an additional 112 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Artisan Partners Asset Management by 1.4% in the first quarter. Envestnet Asset Management Inc. now owns 21,685 shares of the asset manager’s stock worth $600,000 after buying an additional 296 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in Artisan Partners Asset Management by 0.8% in the first quarter. California Public Employees Retirement System now owns 40,000 shares of the asset manager’s stock worth $1,104,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 57.13% of the company’s stock.

About Artisan Partners Asset Management

Artisan Partners Asset Management Inc is an investment management company. The Company provides a range of the United States, non-United States and global investment strategies, each of which is managed by one of its investment teams. The Company provides investment management services to separate accounts, mutual funds and other pooled investment vehicles.

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