Artisan Partners Asset Management (APAM) Upgraded to Neutral at Citigroup

Artisan Partners Asset Management (NYSE:APAM) was upgraded by equities researchers at Citigroup from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Monday, Marketbeat reports. The firm presently has a $25.00 price target on the asset manager’s stock. Citigroup‘s price target would suggest a potential downside of 13.67% from the stock’s current price.

A number of other research firms have also recently commented on APAM. ValuEngine raised Artisan Partners Asset Management from a “strong sell” rating to a “sell” rating in a report on Tuesday, April 9th. Bank of America set a $25.00 price objective on Artisan Partners Asset Management and gave the stock a “sell” rating in a research note on Tuesday, April 9th. Finally, Zacks Investment Research raised Artisan Partners Asset Management from a “sell” rating to a “hold” rating in a research note on Wednesday, March 13th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $29.60.

APAM stock opened at $28.96 on Monday. Artisan Partners Asset Management has a twelve month low of $20.16 and a twelve month high of $35.50. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a market cap of $2.16 billion, a PE ratio of 9.85, a P/E/G ratio of 1.62 and a beta of 1.74.

Artisan Partners Asset Management (NYSE:APAM) last posted its quarterly earnings data on Monday, February 4th. The asset manager reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.01). Artisan Partners Asset Management had a net margin of 19.10% and a return on equity of 184.56%. The company had revenue of $191.50 million for the quarter, compared to analysts’ expectations of $193.12 million. During the same period in the previous year, the firm earned $0.66 earnings per share. The firm’s quarterly revenue was down 9.1% on a year-over-year basis. As a group, equities analysts forecast that Artisan Partners Asset Management will post 2.49 earnings per share for the current fiscal year.

In other Artisan Partners Asset Management news, insider Jason A. Gottlieb sold 10,000 shares of Artisan Partners Asset Management stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $26.18, for a total value of $261,800.00. Following the sale, the insider now owns 101,710 shares of the company’s stock, valued at approximately $2,662,767.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 28.23% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its position in shares of Artisan Partners Asset Management by 230.6% during the 1st quarter. Meeder Asset Management Inc. now owns 3,065 shares of the asset manager’s stock valued at $77,000 after purchasing an additional 2,138 shares during the last quarter. Pearl River Capital LLC purchased a new position in Artisan Partners Asset Management during the 4th quarter valued at $70,000. Great West Life Assurance Co. Can boosted its holdings in Artisan Partners Asset Management by 7.5% during the 4th quarter. Great West Life Assurance Co. Can now owns 7,268 shares of the asset manager’s stock valued at $153,000 after acquiring an additional 504 shares during the period. Raymond James Trust N.A. purchased a new position in Artisan Partners Asset Management during the 1st quarter valued at $225,000. Finally, Jane Street Group LLC purchased a new position in Artisan Partners Asset Management during the 4th quarter valued at $200,000. 63.48% 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.

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