Artisan Partners Asset Management (APAM) Stock Rating Upgraded by TheStreet

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

Several other brokerages have also recently issued reports on APAM. Citigroup upgraded Artisan Partners Asset Management from a “sell” rating to a “neutral” rating and set a $25.00 price objective on the stock in a research note on Monday. Bank of America set a $25.00 price objective on Artisan Partners Asset Management and gave the company a “sell” rating in a research note on Tuesday, April 9th. ValuEngine upgraded Artisan Partners Asset Management from a “strong sell” rating to a “sell” rating in a research note on Tuesday, April 9th. Finally, Zacks Investment Research upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Tuesday, April 9th. 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 an average rating of “Hold” and a consensus price target of $29.60.

Shares of NYSE APAM opened at $28.96 on Monday. Artisan Partners Asset Management has a 52-week low of $20.16 and a 52-week high of $35.50. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 9.85, a PEG 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 (NYSE:APAM) last announced its quarterly earnings data 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). Artisan Partners Asset Management had a net margin of 19.10% and a return on equity of 184.56%. The firm had revenue of $191.50 million for the quarter, compared to analyst estimates of $193.12 million. During the same quarter in the previous year, the company earned $0.66 EPS. The company’s quarterly revenue was down 9.1% compared to the same quarter last year. As a group, equities research analysts predict that Artisan Partners Asset Management will post 2.49 EPS for the current fiscal year.

In other news, insider Jason A. Gottlieb sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $26.18, for a total transaction of $261,800.00. Following the sale, the insider now directly owns 101,710 shares in the company, valued at approximately $2,662,767.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 28.23% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in APAM. BlackRock Inc. raised its position in shares of Artisan Partners Asset Management by 2.2% during the 3rd quarter. BlackRock Inc. now owns 3,375,900 shares of the asset manager’s stock worth $109,379,000 after purchasing an additional 71,695 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Artisan Partners Asset Management by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,061,991 shares of the asset manager’s stock worth $34,409,000 after purchasing an additional 3,534 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Artisan Partners Asset Management during the 3rd quarter worth approximately $308,000. MetLife Investment Advisors LLC raised its position in shares of Artisan Partners Asset Management by 55.5% during the 3rd quarter. MetLife Investment Advisors LLC now owns 32,804 shares of the asset manager’s stock worth $1,063,000 after purchasing an additional 11,703 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Artisan Partners Asset Management by 183.3% during the 3rd quarter. AQR Capital Management LLC now owns 39,200 shares of the asset manager’s stock worth $1,270,000 after purchasing an additional 25,362 shares during the period. Institutional investors and hedge funds own 63.48% 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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