Artisan Partners Asset Management (APAM) Upgraded at TheStreet

Artisan Partners Asset Management (NYSE:APAM) was upgraded by research analysts at TheStreet from a “c+” rating to a “b-” rating in a research report issued to clients and investors on Monday, TheStreetRatingsTable reports.

A number of other analysts have also issued reports on APAM. Zacks Investment Research upgraded shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Tuesday, April 9th. Citigroup upgraded shares of Artisan Partners Asset Management from a “sell” rating to a “neutral” rating and set a $25.00 price target on the stock in a research note on Monday. Bank of America set a $25.00 price target on shares of Artisan Partners Asset Management and gave the stock a “sell” rating in a research note on Tuesday, April 9th. Finally, ValuEngine upgraded shares of Artisan Partners Asset Management from a “strong sell” rating to a “sell” rating in a research note on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Artisan Partners Asset Management presently has an average rating of “Hold” and an average target price of $29.60.

Shares of APAM opened at $28.96 on Monday. The stock has a market capitalization of $2.16 billion, a P/E ratio of 9.85, a P/E/G ratio of 1.62 and a beta of 1.74. Artisan Partners Asset Management has a 12-month low of $20.16 and a 12-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.

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

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

Several institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. grew its position in shares of Artisan Partners Asset Management by 230.6% during the first quarter. Meeder Asset Management Inc. now owns 3,065 shares of the asset manager’s stock worth $77,000 after buying an additional 2,138 shares in the last quarter. BTIM Corp. grew its position in shares of Artisan Partners Asset Management by 6.1% during the first quarter. BTIM Corp. now owns 283,358 shares of the asset manager’s stock worth $7,132,000 after buying an additional 16,285 shares in the last quarter. Weather Gauge Advisory LLC grew its position in shares of Artisan Partners Asset Management by 11.2% during the first quarter. Weather Gauge Advisory LLC now owns 115,055 shares of the asset manager’s stock worth $2,896,000 after buying an additional 11,606 shares in the last quarter. Raymond James Trust N.A. acquired a new position in shares of Artisan Partners Asset Management during the first quarter worth about $225,000. Finally, Sciencast Management LP acquired a new position in shares of Artisan Partners Asset Management during the first quarter worth about $282,000. 63.48% of the stock is owned by institutional investors and hedge funds.

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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