Artisan Partners Asset Management (NYSE:APAM) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Artisan Partners Asset Management (NYSE:APAM) from a buy rating to a hold rating in a research report released on Friday, Zacks.com reports.

According to Zacks, “Artisan Partners Asset Management Inc. is an independent investment management firm that provides a broad range of U.S., non-U.S. and global equity investment strategies. The Company’s manages investments primarily through mutual funds and separate accounts. Its clients include pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. pooled investment vehicles. Artisan Partners Asset Management Inc. is based in Milwaukee, WI United States. “

APAM stock opened at $28.92 on Friday. Artisan Partners Asset Management has a 52 week low of $20.16 and a 52 week high of $33.45. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.84. The company has a fifty day simple moving average of $27.40 and a two-hundred day simple moving average of $27.05. The firm has a market capitalization of $2.24 billion, a P/E ratio of 9.84, a price-to-earnings-growth ratio of 1.55 and a beta of 1.85.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings data on Tuesday, July 30th. The asset manager reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.01. Artisan Partners Asset Management had a net margin of 18.40% and a return on equity of 169.94%. The business had revenue of $200.70 million during the quarter, compared to analyst estimates of $196.99 million. During the same quarter last year, the business earned $0.76 earnings per share. Artisan Partners Asset Management’s quarterly revenue was down 5.5% compared to the same quarter last year. As a group, analysts anticipate that Artisan Partners Asset Management will post 2.67 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.40 annualized dividend and a yield of 8.30%. This is a positive change from Artisan Partners Asset Management’s previous quarterly dividend of $0.55. Artisan Partners Asset Management’s dividend payout ratio (DPR) is 81.63%.

A number of hedge funds have recently added to or reduced their stakes in the business. Hillsdale Investment Management Inc. purchased a new stake in shares of Artisan Partners Asset Management in the second quarter valued at $25,000. Financial Gravity Wealth Inc. purchased a new stake in shares of Artisan Partners Asset Management in the second quarter valued at $39,000. Anderson Fisher LLC purchased a new stake in shares of Artisan Partners Asset Management in the second quarter valued at $41,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Artisan Partners Asset Management by 89.1% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,509 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 711 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of Artisan Partners Asset Management by 148,633.3% in the second quarter. Bank of Montreal Can now owns 4,462 shares of the asset manager’s stock valued at $123,000 after acquiring an additional 4,459 shares during the period. Institutional investors and hedge funds own 63.16% 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.

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