Artisan Partners Asset Management (NYSE:APAM) downgraded by StockNews.com

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Artisan Partners Asset Management (NYSE: APAM – Get a rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

Other research analysts have also published reports on the company. Evercore ISI launched coverage on Artisan Partners Asset Management in a research report on Wednesday, December 22. They set an “inline” rating and a target price of $48.00 on the stock. Goldman Sachs Group downgraded Artisan Partners Asset Management from a “buy” rating to a “neutral” rating and lowered its share price target from $55.00 to $48.00 in a research report from the Tuesday, January 4. Five investment analysts gave the stock a hold rating and two gave the stock a buy rating. Based on MarketBeat data, Artisan Partners Asset Management has a consensus rating of “Hold” and an average target price of $51.43.

Shares of APAM traded at $0.05 during Friday’s midday session, hitting $38.45. 343,694 shares of the company were traded, against an average volume of 677,692. Artisan Partners Asset Management has a fifty-two week low of $33.93 and a fifty-two week high of $57.65. The stock has a 50-day simple moving average of $39.42 and a 200-day simple moving average of $45.27. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt ratio of 0.67. The stock has a market capitalization of $3.04 billion, a price-earnings ratio of 7.58 and a beta of 1.79.

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Artisan Partners Asset Management (NYSE: APAM – Get a rating) last released its quarterly earnings data on Tuesday, February 1. The asset manager reported earnings per share (EPS) of $1.29 for the quarter, beating the consensus estimate of $1.28 by $0.01. The company posted revenue of $315.00 million for the quarter, compared to analysts’ expectations of $315.87 million. Artisan Partners Asset Management achieved a return on equity of 157.99% and a net margin of 27.42%. The company’s revenue increased 20.6% year over year. In the same quarter last year, the company earned earnings per share of $1.06. As a group, analysts expect Artisan Partners Asset Management to post earnings per share of 4.03 for the current fiscal year.

A number of hedge funds have recently changed their holdings in the company. CWM LLC purchased a new stake in shares of Artisan Partners Asset Management during the fourth quarter, valued at approximately $31,000. First Horizon Advisors Inc. increased its position in Artisan Partners Asset Management by 1,688.0% during the third quarter. First Horizon Advisors Inc. now owns 447 shares of the asset manager worth $33,000 after buying an additional 422 shares in the last quarter. MUFG Americas Holdings Corp acquired a new stake in Artisan Partners Asset Management during the third quarter worth approximately $35,000. Meeder Asset Management Inc. acquired a new stake in Artisan Partners Asset Management during the third quarter worth approximately $40,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in Artisan Partners Asset Management during the third quarter worth approximately $45,000. Institutional investors hold 68.45% of the company’s shares.

Artisan Partners Asset Management Company Profile (Get a rating)

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

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