Artisan Partners Touches 52-Week High - Analyst Blog

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Shares of Artisan Partners Asset Management Inc. ( APAM ) crafted a new 52-week high, touching $66.04 on Jan 3, 2014. Notably, the closing price of this investment manager marks a solid return of roughly 71.9% since it became a publicly traded company in Mar 2013. The trading volume for the session was 0.13 million shares.

We expect the performance of this Zacks Rank #2 (Buy) stock to show further upside driven by estimate revisions over the last 60 days. Further, the long-term earnings growth is expected to be is 14.9%.

Growth Drivers

Artisan Partners' impressive third-quarter 2013 results and continued growth in asset under management (AUM) were the primary growth drivers.

On Dec 10, 2013, Artisan Partners reported its monthly AUM update for Nov 2013. The company reported total AUM of $103.0 billion in the reported month.

On Oct 28, 2013, Artisan Partners announced third-quarter results. Earnings in the reported quarter surpassed the Zacks Consensus Estimate by 4.7%. Results were mainly driven by top-line growth and a decline in expenses. Moreover, rise in AUM was the tailwind.

Estimate Revisions Show Strength

Over the last 60 days, the Zacks Consensus Estimate for 2013 has advanced 4.7% to $2.52 per share. Similarly, for 2014, the Zacks Consensus Estimate moved up 2.9% to $3.20 per share over the same time frame.

Some other investment managers worth considering include Waddell & Reed Financial, Inc. ( WDR ), Affiliated Managers Group Inc. ( AMG ) and Ameriprise Financial, Inc. ( AMP ). While Waddell & Reed carries a Zacks Rank #1 (Strong Buy), Affiliated Managers and Ameriprise have the same Zacks Rank as Artisan Partners.



AFFIL MANAGERS (AMG): Free Stock Analysis Report

AMERIPRISE FINL (AMP): Free Stock Analysis Report

ARTISAN PTNR AM (APAM): Free Stock Analysis Report

WADDELL&REED -A (WDR): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Business , Stocks

Referenced Stocks: AMG , AMP , APAM , WDR

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