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Artisan Partners Asset Management (NYSE:APAM) Upgraded to “Buy” at StockNews.com

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Artisan Partners Asset Management (NYSE:APAM – Get Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

APAM has been the subject of a number of other research reports. Evercore ISI initiated coverage on shares of Artisan Partners Asset Management in a report on Wednesday, December 22nd. They issued an “inline” rating and a $48.00 price objective for the company. The Goldman Sachs Group cut shares of Artisan Partners Asset Management from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $55.00 to $48.00 in a report on Tuesday, January 4th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Artisan Partners Asset Management has a consensus rating of “Hold” and a consensus target price of $51.43.

Shares of APAM opened at $37.61 on Friday. Artisan Partners Asset Management has a 1-year low of $35.37 and a 1-year high of $57.65. The stock has a market cap of $2.97 billion, a PE ratio of 7.42 and a beta of 1.79. The firm has a 50-day simple moving average of $42.79 and a two-hundred day simple moving average of $46.95. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.70 and a quick ratio of 0.70.

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Artisan Partners Asset Management (NYSE:APAM – Get Rating) last announced its quarterly earnings results on Tuesday, February 1st. The asset manager reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. Artisan Partners Asset Management had a net margin of 27.42% and a return on equity of 157.99%. The business had revenue of $315.00 million during the quarter, compared to analysts’ expectations of $315.87 million. During the same period last year, the business earned $1.06 earnings per share. The business’s revenue for the quarter was up 20.6% on a year-over-year basis. As a group, sell-side analysts expect that Artisan Partners Asset Management will post 4.9 earnings per share for the current fiscal year.

In other news, Director Tench Coxe purchased 220,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 14th. The stock was bought at an average price of $45.39 per share, for a total transaction of $9,985,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.32% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the company. Mcmorgan & Co. LLC boosted its stake in shares of Artisan Partners Asset Management by 9.8% during the third quarter. Mcmorgan & Co. LLC now owns 29,425 shares of the asset manager’s stock worth $1,439,000 after buying an additional 2,615 shares during the period. Ibex Wealth Advisors grew its holdings in shares of Artisan Partners Asset Management by 2.1% during the second quarter. Ibex Wealth Advisors now owns 104,661 shares of the asset manager’s stock worth $5,319,000 after buying an additional 2,118 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Artisan Partners Asset Management by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,132,473 shares of the asset manager’s stock worth $55,404,000 after buying an additional 8,717 shares during the last quarter. HM Payson & Co. purchased a new position in shares of Artisan Partners Asset Management during the second quarter worth about $42,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Artisan Partners Asset Management by 9,362.6% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 66,806 shares of the asset manager’s stock worth $3,268,000 after buying an additional 66,100 shares during the last quarter. Institutional investors and hedge funds own 68.45% of the company’s stock.

Artisan Partners Asset Management Company Profile (Get Rating)

Artisan Partners Asset Management, Inc operates as an investment management company, which provides investment strategies to clients globally. It offers investment management services to institutions and through intermediaries that operate with institutional-like decision-making processes and have longer-term investment horizons, by means of separate accounts and mutual funds.

Further Reading

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