Artisan Partners Asset Management (APAM) Lifted to B- at TheStreet

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TheStreet upgraded shares of Artisan Partners Asset Management (NYSE:APAM) from a c+ rating to a b- rating in a research note released on Monday, TheStreetRatingsTable reports.

APAM has been the topic of several other research reports. 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 report on Tuesday, April 9th. Citigroup cut Artisan Partners Asset Management from a neutral rating to a sell rating in a report on Monday, January 14th. Bank of America set a $25.00 price objective on Artisan Partners Asset Management and gave the stock a sell rating in a report on Tuesday, April 9th. Finally, ValuEngine raised Artisan Partners Asset Management from a strong sell rating to a sell rating in a report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Artisan Partners Asset Management currently has an average rating of Hold and a consensus price target of $29.60.

Shares of NYSE APAM opened at $28.96 on Monday. The stock has a market cap 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. 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 has a 12-month low of $20.16 and a 12-month high of $35.50.

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

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

Several hedge funds have recently made changes to their positions in APAM. Pearl River Capital LLC bought a new stake in shares of Artisan Partners Asset Management in the 4th quarter valued at about $70,000. Meeder Asset Management Inc. increased its stake in shares of Artisan Partners Asset Management by 230.6% in the 1st quarter. Meeder Asset Management Inc. now owns 3,065 shares of the asset manager’s stock valued at $77,000 after acquiring an additional 2,138 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Artisan Partners Asset Management by 7.5% in 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 last quarter. Jane Street Group LLC bought a new stake in shares of Artisan Partners Asset Management in the 4th quarter valued at about $200,000. Finally, Raymond James Trust N.A. bought a new stake in shares of Artisan Partners Asset Management in the 1st quarter valued at about $225,000. 63.48% of the stock is owned by institutional investors.

About Artisan Partners Asset Management

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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