Artisan Partners Asset Management

APAM · NYSE

$32.96+$0.93 (+2.90%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $32.03

APAM analyst rating

HoldConsensus of 4 analysts over the last 12 months. 25% rate it a buy.

Strong buy0
Buy1
Hold2
Underperform0
Sell1

12-month price target · 6 analysts

Average $39.01 (+18.4% upside)

Low: $35.35
Now: $32.96
High: $47.25

Upgrades and downgrades

The latest rating actions, newest first

APAM analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
TD Cowen	Oct 12, 2026	Maintains	Hold	$37.00 → $33.00	53%
Evercore ISI Group	Oct 9, 2026	Maintains	In-Line	$41.00 → $34.00	44%
RBC Capital	Oct 9, 2026	Maintains	Outperform	$45.00 → $43.00	29%
Goldman Sachs	Oct 2, 2026	Maintains	Sell	$35.00 → $31.00	61%
TD Cowen	Sep 11, 2026	Maintains	Hold	$37.00	53%
Evercore ISI Group	Sep 9, 2026	Maintains	In-Line	$40.00 → $41.00	44%
Evercore ISI Group	Aug 10, 2026	Maintains	In-Line	$36.00 → $40.00	44%
RBC Capital	Jul 30, 2026	Maintains	Outperform	$44.00 → $45.00	29%
TD Cowen	Jul 30, 2026	Maintains	Hold	$35.00 → $37.00	53%
RBC Capital	Jul 23, 2026	Maintains	Outperform	$43.00 → $44.00	29%

The case for and against

Updated Oct 18, 2026

Bull case

Artisan Partners Asset is supported by a durable fee model, with a reported average fee yield of 67bps and the highest average fee rate in the coverage set, helped by roughly 80% of AUM in global/international equity strategies that typically command richer pricing. Its 8/31 AUM of about $183.5B, up roughly $750M and 20 bps month over month, also shows that NAV strength is offsetting weaker-than-modeled attrition, while ex the residual US Value wind-down flows are near break even. The positive outlook is further reinforced by faster growth in third-generation products, expanding credit-oriented strategies, continued non-US client asset growth, and a variable quarterly dividend that should better align cash payouts with quarterly cash generation.

Bear case

Artisan Partners Asset is facing a negative fundamental setup because elevated attrition is eroding assets faster than market gains can replenish them, with September net attrition penciled at about $7.2B and 9/30 AUM near $168.7B, down 8% month over month and about 80 bps below model. The outlook is further pressured by the pre-announced $6B Global Value mandate loss, which management and the analyst estimate could dilute revenues by 2% to 3% and 2027E EPS by roughly 4%, while QTD AUM has already slipped to around $180B. Underlying flows also look weak outside the mandate loss, as steeper outflows in Growth and International Value, plus competitive pressure from passive products and higher operating expense assumptions, point to ongoing earnings headwinds.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.