Artisan Partners Asset Management Inc. (APAM) Sets New 1-Year High at $33.95

Shares of Artisan Partners Asset Management Inc. (NYSE:APAM) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $33.95 and last traded at $33.75, with a volume of 214,235 shares changing hands. The stock had previously closed at $33.45.

A number of analysts have recently issued reports on APAM shares. TheStreet upgraded shares of Artisan Partners Asset Management from a “c+” rating to a “b-” rating in a report on Monday, July 17th. Sidoti upgraded shares of Artisan Partners Asset Management from a “neutral” rating to a “buy” rating in a report on Friday, August 4th. They noted that the move was a valuation call. Royal Bank Of Canada set a $36.00 price objective on shares of Artisan Partners Asset Management and gave the company a “buy” rating in a report on Tuesday, August 1st. ValuEngine upgraded shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, BidaskClub upgraded shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $29.50.

The firm has a 50-day moving average price of $31.00 and a 200 day moving average price of $29.86. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 19.82 and a beta of 1.77.

Artisan Partners Asset Management (NYSE:APAM) last announced its earnings results on Monday, July 31st. The asset manager reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.01). The business had revenue of $196.20 million for the quarter, compared to analysts’ expectations of $194.25 million. Artisan Partners Asset Management had a net margin of 11.37% and a return on equity of 78.75%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 earnings per share. Analysts anticipate that Artisan Partners Asset Management Inc. will post $2.34 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Artisan Partners Asset Management by 5.3% during the 2nd quarter. Vanguard Group Inc. now owns 3,967,953 shares of the asset manager’s stock valued at $121,816,000 after acquiring an additional 200,446 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in shares of Artisan Partners Asset Management by 7.6% during the 2nd quarter. Neuberger Berman Group LLC now owns 2,224,776 shares of the asset manager’s stock valued at $68,301,000 after buying an additional 156,187 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Artisan Partners Asset Management by 2.0% during the 2nd quarter. Wells Fargo & Company MN now owns 2,116,198 shares of the asset manager’s stock valued at $64,967,000 after buying an additional 41,092 shares in the last quarter. Royce & Associates LP raised its holdings in shares of Artisan Partners Asset Management by 8.4% during the 2nd quarter. Royce & Associates LP now owns 1,178,740 shares of the asset manager’s stock valued at $36,187,000 after buying an additional 91,600 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Artisan Partners Asset Management by 9.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,111,933 shares of the asset manager’s stock valued at $34,137,000 after buying an additional 99,766 shares in the last quarter. Institutional investors and hedge funds own 65.63% of the company’s stock.

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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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