Artisan Partners Asset Management Inc (NYSE:APAM) Receives Average Rating of “Hold” from Brokerages

Shares of Artisan Partners Asset Management Inc (NYSE:APAM) have been assigned an average rating of “Hold” from the six research firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $28.00.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Artisan Partners Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday. ValuEngine upgraded shares of Artisan Partners Asset Management from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd.

Shares of NYSE APAM traded up $0.18 during midday trading on Wednesday, reaching $26.01. The stock had a trading volume of 227,380 shares, compared to its average volume of 430,130. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 8.85, a price-to-earnings-growth ratio of 0.91 and a beta of 1.85. Artisan Partners Asset Management has a twelve month low of $20.16 and a twelve month high of $32.40. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.56 and a current ratio of 0.56. The company’s 50 day moving average price is $27.48 and its 200 day moving average price is $27.16.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings results on Tuesday, July 30th. The asset manager reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.01. The firm had revenue of $200.70 million for the quarter, compared to the consensus estimate of $196.99 million. Artisan Partners Asset Management had a net margin of 18.40% and a return on equity of 169.94%. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.76 EPS. Equities analysts forecast that Artisan Partners Asset Management will post 2.67 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Hillsdale Investment Management Inc. bought a new stake in shares of Artisan Partners Asset Management in the 2nd quarter valued at $25,000. Financial Gravity Wealth Inc. bought a new stake in shares of Artisan Partners Asset Management in the 2nd quarter valued at $39,000. Anderson Fisher LLC bought a new stake in shares of Artisan Partners Asset Management in the 2nd quarter valued at $41,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Artisan Partners Asset Management by 89.1% in the 2nd 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 in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Artisan Partners Asset Management by 148,633.3% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors 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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