Artisan Partners Asset Management (NYSE:APAM) Rating Lowered to C at TheStreet

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

Several other research firms also recently commented on APAM. ValuEngine upgraded Artisan Partners Asset Management from a “strong sell” rating to a “sell” rating in a research report on Thursday, March 5th. Zacks Investment Research downgraded Artisan Partners Asset Management from a “strong-buy” rating to a “hold” rating in a research report on Monday. Royal Bank of Canada restated a “buy” rating and set a $34.00 target price on shares of Artisan Partners Asset Management in a research report on Monday, January 6th. Citigroup cut their target price on Artisan Partners Asset Management from $40.00 to $24.50 and set a “buy” rating for the company in a research report on Friday, March 13th. Finally, Bank of America cut their target price on Artisan Partners Asset Management from $23.00 to $18.00 and set an “underperform” rating for the company in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. Artisan Partners Asset Management presently has an average rating of “Hold” and a consensus target price of $28.13.

Shares of NYSE:APAM opened at $19.99 on Monday. Artisan Partners Asset Management has a 1-year low of $17.69 and a 1-year high of $38.09. The firm has a market capitalization of $1.41 billion, a PE ratio of 7.69, a PEG ratio of 0.74 and a beta of 1.85. The business’s 50 day moving average is $28.73 and its 200-day moving average is $29.66. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 2.17.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings data on Tuesday, February 4th. The asset manager reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.02. Artisan Partners Asset Management had a return on equity of 180.34% and a net margin of 19.59%. The company had revenue of $208.40 million for the quarter, compared to analyst estimates of $207.35 million. During the same quarter last year, the firm earned $0.61 EPS. Artisan Partners Asset Management’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, sell-side analysts predict that Artisan Partners Asset Management will post 2.82 EPS for the current year.

In related news, Director Tench Coxe bought 50,000 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average price of $21.02 per share, for a total transaction of $1,051,000.00. Following the transaction, the director now directly owns 61,631 shares of the company’s stock, valued at $1,295,483.62. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 24.44% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of APAM. Norges Bank bought a new position in Artisan Partners Asset Management in the 4th quarter valued at $24,962,000. Renaissance Technologies LLC raised its position in Artisan Partners Asset Management by 13.4% in the 4th quarter. Renaissance Technologies LLC now owns 3,657,251 shares of the asset manager’s stock valued at $118,202,000 after purchasing an additional 433,187 shares during the last quarter. Man Group plc raised its position in Artisan Partners Asset Management by 159.8% in the 4th quarter. Man Group plc now owns 559,794 shares of the asset manager’s stock valued at $18,092,000 after purchasing an additional 344,331 shares during the last quarter. Nuveen Asset Management LLC raised its position in Artisan Partners Asset Management by 69.0% in the 4th quarter. Nuveen Asset Management LLC now owns 806,276 shares of the asset manager’s stock valued at $26,058,000 after purchasing an additional 329,246 shares during the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC bought a new position in Artisan Partners Asset Management in the 3rd quarter valued at $9,050,000. Hedge funds and other institutional investors own 63.03% of the company’s stock.

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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