Artisan Partners Asset Management (NYSE:APAM) Hits New 12-Month High – Here’s What Happened

Artisan Partners Asset Management Inc. (NYSE:APAM) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $49.54 and last traded at $49.29, with a volume of 22978 shares. The stock had previously closed at $49.10.

Analysts Set New Price Targets

Several research firms have weighed in on APAM. The Goldman Sachs Group decreased their price target on shares of Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating for the company in a research note on Thursday, October 3rd. TD Cowen raised their price objective on Artisan Partners Asset Management from $41.00 to $43.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. StockNews.com raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Finally, Evercore ISI raised their price objective on shares of Artisan Partners Asset Management from $40.00 to $44.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Artisan Partners Asset Management presently has an average rating of “Hold” and a consensus price target of $44.13.

Artisan Partners Asset Management Stock Performance

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.73 and a current ratio of 0.73. The company’s 50 day moving average price is $45.36 and its 200-day moving average price is $42.93. The company has a market cap of $3.92 billion, a PE ratio of 13.68 and a beta of 1.79.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings data on Tuesday, October 29th. The asset manager reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $279.60 million for the quarter, compared to analysts’ expectations of $279.70 million. Artisan Partners Asset Management had a return on equity of 71.50% and a net margin of 23.95%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.75 EPS. Equities research analysts anticipate that Artisan Partners Asset Management Inc. will post 3.49 earnings per share for the current fiscal year.

Artisan Partners Asset Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.82 dividend. The ex-dividend date was Friday, November 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 6.73%. Artisan Partners Asset Management’s dividend payout ratio (DPR) is currently 91.37%.

Institutional Investors Weigh In On Artisan Partners Asset Management

Large investors have recently added to or reduced their stakes in the business. Matrix Trust Co purchased a new stake in shares of Artisan Partners Asset Management in the 3rd quarter valued at about $30,000. GAMMA Investing LLC raised its stake in Artisan Partners Asset Management by 81.5% in the second quarter. GAMMA Investing LLC now owns 775 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 348 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in Artisan Partners Asset Management by 41.8% during the third quarter. Hexagon Capital Partners LLC now owns 1,004 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 296 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Artisan Partners Asset Management by 735.9% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,212 shares of the asset manager’s stock valued at $52,000 after purchasing an additional 1,067 shares during the last quarter. Finally, Quarry LP purchased a new position in Artisan Partners Asset Management in the 2nd quarter worth approximately $63,000. Institutional investors own 86.45% of the company’s stock.

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.