TD Cowen Increases Artisan Partners Asset Management (NYSE:APAM) Price Target to $39.00

Artisan Partners Asset Management (NYSE:APAM) had its price objective lifted by TD Cowen from $38.00 to $39.00 in a report published on Thursday, Benzinga reports. The brokerage currently has a hold rating on the asset manager’s stock.

Artisan Partners Asset Management Price Performance

Shares of NYSE APAM opened at $43.71 on Thursday. The business has a fifty day moving average price of $42.13 and a two-hundred day moving average price of $42.84. The stock has a market capitalization of $3.51 billion, a PE ratio of 13.33 and a beta of 1.81. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.56 and a quick ratio of 0.64. Artisan Partners Asset Management has a fifty-two week low of $32.12 and a fifty-two week high of $46.75.

Artisan Partners Asset Management (NYSE:APAM) last posted its quarterly earnings results on Tuesday, July 23rd. The asset manager reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). The company had revenue of $270.80 million during the quarter, compared to analyst estimates of $274.70 million. Artisan Partners Asset Management had a net margin of 22.75% and a return on equity of 71.76%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the firm earned $0.71 EPS. As a group, equities analysts predict that Artisan Partners Asset Management will post 3.41 earnings per share for the current fiscal year.

Artisan Partners Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a dividend of $0.71 per share. This is a positive change from Artisan Partners Asset Management’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.84 annualized dividend and a dividend yield of 6.50%. Artisan Partners Asset Management’s dividend payout ratio (DPR) is currently 74.39%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in APAM. Vanguard Group Inc. increased its stake in shares of Artisan Partners Asset Management by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 7,873,612 shares of the asset manager’s stock valued at $347,856,000 after purchasing an additional 75,304 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Artisan Partners Asset Management by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,934,002 shares of the asset manager’s stock valued at $85,444,000 after buying an additional 12,977 shares in the last quarter. Wasatch Advisors LP grew its position in Artisan Partners Asset Management by 25.2% in the fourth quarter. Wasatch Advisors LP now owns 1,581,267 shares of the asset manager’s stock valued at $69,860,000 after acquiring an additional 318,355 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in Artisan Partners Asset Management by 7.7% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,434,391 shares of the asset manager’s stock worth $59,197,000 after acquiring an additional 102,421 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of Artisan Partners Asset Management by 3.9% in the second quarter. Raymond James & Associates now owns 420,020 shares of the asset manager’s stock worth $17,334,000 after acquiring an additional 15,811 shares during the last quarter. 86.45% of the stock is owned by institutional investors.

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.