Artisan Partners Asset Management, Inc. (APAM)

NYSEFinancialsAsset ManagementSnapshot 2026-10-23

$33.57-2.41%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Artisan Partners Asset Management, Inc.’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

Comparable estimates unavailable

+10% or more+5%0%−5%−10% or less

A matching fiscal period and sufficient coverage are required.

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

The calculation requires same-period, same-provider snapshots, positive EPS, at least five analysts and a baseline within three days of the requested lookback.

Measure / period	Management expectations	Analyst expectations
Quarter ending 2026-12-30
Revenue	—	310.46M
EPS	—	1
Annual ending 2026-12-31
Revenue	—	1.23B
EPS	—	3.745
Annual ending 2027-12-31
Revenue	—	1.24B
EPS	—	3.645

Management figures unavailable.

What the Thesis Depends On

4 published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Invest in distribution capabilities and EMEA presence	It expands in credit and alternatives and invests in EMEA distribution.	Intact	Progress score falls below 50% or no expansion in EMEA distribution	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 3 of last 3 quarters. While Artisan emphasizes investment in distribution and EMEA presence, total firm AUM declined from $183.5B in August 2026 to $168.7B in September 2026, indicating challenges in growth. The trajectory is mixed with ongoing focus but recent AUM trends show limited progress. Delivery assessment Oct 24, 2026
Expand platform in credit and alternatives	It expands in credit and alternatives and invests in EMEA distribution.	Intact	Progress score falls below 50% or no growth in credit/alternatives	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 3 of last 3 quarters. Total firm assets under management declined from $183.5B in August 2026 to $168.7B in September 2026, reflecting some client mandate changes. Despite this, Artisan continues to emphasize growth in credit and alternatives as part of its multi-asset platform. The trajectory shows mixed progress given recent AUM fluctuations. Delivery assessment Oct 24, 2026
Maintain stable profit margins near current levels	Artisan Partners grows revenue about 3% a year with steady profit margins.	Broken	Profit margins decline significantly below recent levels	Operating margin: 27.48% FY2026-Q2; GAAP. Published target: Maintain profit margins near current levels. Target percentage unit is not explicit. Source published Jul 31, 202627.48312 percent · calculatedSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: cce6e651-3b36-41a8-b149-0058eaa73daa. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Sustain revenue growth near 3% annually	A primary condition in Artisan Partners Asset Management, Inc.'s published investment case. The stated target is >=2.8% YoY.	Improving	YoY revenue growth falls below 2.8% next year	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 3 of last 3 quarters. Total firm assets under management declined from $183.5B in August 2026 to $168.7B in September 2026, reflecting some client mandate changes. Despite this, Artisan continues to emphasize growth in credit and alternatives as part of its multi-asset platform. The trajectory shows mixed progress given recent AUM fluctuations. Delivery assessment Oct 24, 2026

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS: comparable history unavailable.

FY2027 revenue: comparable history unavailable.

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	Unavailable	Unavailable	4 / 2
2026-07-25	Unavailable	Unavailable	4 / 2
2026-07-26	Unavailable	Unavailable	4 / 2
2026-07-27	Unavailable	Unavailable	4 / 2
2026-07-28	Unavailable	Unavailable	4 / 2
2026-07-29	Unavailable	Unavailable	4 / 2
2026-07-30	Unavailable	Unavailable	4 / 2
2026-07-31	Unavailable	Unavailable	4 / 2
2026-08-01	Unavailable	Unavailable	4 / 2
2026-08-02	Unavailable	Unavailable	4 / 2
2026-08-03	Unavailable	Unavailable	4 / 2
2026-08-04	Unavailable	Unavailable	4 / 2
2026-08-05	Unavailable	Unavailable	4 / 2
2026-08-06	Unavailable	Unavailable	4 / 2
2026-08-07	Unavailable	Unavailable	2 / 1
2026-08-08	Unavailable	Unavailable	4 / 2
2026-08-09	Unavailable	Unavailable	4 / 2
2026-08-10	Unavailable	Unavailable	4 / 2
2026-08-11	Unavailable	Unavailable	4 / 2
2026-08-12	Unavailable	Unavailable	4 / 2
2026-08-13	Unavailable	Unavailable	4 / 2
2026-08-14	Unavailable	Unavailable	2 / 1
2026-08-15	Unavailable	Unavailable	2 / 1
2026-08-16	Unavailable	Unavailable	2 / 1
2026-08-17	Unavailable	Unavailable	2 / 1
2026-08-18	Unavailable	Unavailable	2 / 1
2026-08-19	Unavailable	Unavailable	2 / 1
2026-08-20	Unavailable	Unavailable	2 / 1
2026-08-21	Unavailable	Unavailable	2 / 1
2026-08-22	Unavailable	Unavailable	2 / 1
2026-08-23	Unavailable	Unavailable	2 / 1
2026-08-24	Unavailable	Unavailable	2 / 1
2026-08-25	Unavailable	Unavailable	2 / 1
2026-08-26	Unavailable	Unavailable	2 / 1
2026-08-27	Unavailable	Unavailable	2 / 1
2026-08-28	Unavailable	Unavailable	2 / 1
2026-08-29	Unavailable	Unavailable	2 / 1
2026-08-30	Unavailable	Unavailable	2 / 1
2026-08-31	Unavailable	Unavailable	2 / 1
2026-09-01	Unavailable	Unavailable	2 / 1
2026-09-02	Unavailable	Unavailable	2 / 1
2026-09-03	Unavailable	Unavailable	2 / 1
2026-09-04	Unavailable	Unavailable	2 / 1
2026-09-05	Unavailable	Unavailable	2 / 1
2026-09-06	Unavailable	Unavailable	2 / 1
2026-09-07	Unavailable	Unavailable	2 / 1
2026-09-08	Unavailable	Unavailable	2 / 1
2026-09-09	Unavailable	Unavailable	2 / 1
2026-09-10	Unavailable	Unavailable	2 / 1
2026-09-11	Unavailable	Unavailable	2 / 1
2026-09-12	Unavailable	Unavailable	2 / 1
2026-09-13	Unavailable	Unavailable	2 / 1
2026-09-14	Unavailable	Unavailable	2 / 1
2026-09-15	Unavailable	Unavailable	2 / 1
2026-09-16	Unavailable	Unavailable	2 / 1
2026-09-17	Unavailable	Unavailable	2 / 1
2026-09-18	Unavailable	Unavailable	2 / 1
2026-09-19	Unavailable	Unavailable	2 / 1
2026-09-20	Unavailable	Unavailable	2 / 1
2026-09-21	Unavailable	Unavailable	2 / 1
2026-09-22	Unavailable	Unavailable	2 / 1
2026-09-23	Unavailable	Unavailable	2 / 1
2026-09-24	Unavailable	Unavailable	2 / 1
2026-09-25	Unavailable	Unavailable	2 / 1
2026-09-26	Unavailable	Unavailable	2 / 1
2026-09-27	Unavailable	Unavailable	2 / 1
2026-09-28	Unavailable	Unavailable	2 / 1
2026-09-29	Unavailable	Unavailable	2 / 1
2026-09-30	Unavailable	Unavailable	2 / 1
2026-10-01	Unavailable	Unavailable	2 / 1
2026-10-02	Unavailable	Unavailable	2 / 1
2026-10-03	Unavailable	Unavailable	2 / 1
2026-10-04	Unavailable	Unavailable	2 / 1
2026-10-05	Unavailable	Unavailable	2 / 1
2026-10-06	Unavailable	Unavailable	2 / 1
2026-10-07	Unavailable	Unavailable	2 / 1
2026-10-08	Unavailable	Unavailable	2 / 1
2026-10-09	Unavailable	Unavailable	2 / 1
2026-10-10	Unavailable	Unavailable	2 / 1
2026-10-11	Unavailable	Unavailable	2 / 1
2026-10-12	Unavailable	Unavailable	2 / 1
2026-10-13	Unavailable	Unavailable	2 / 1
2026-10-14	Unavailable	Unavailable	2 / 1
2026-10-15	Unavailable	Unavailable	2 / 1
2026-10-16	Unavailable	Unavailable	2 / 1
2026-10-17	Unavailable	Unavailable	2 / 1
2026-10-18	Unavailable	Unavailable	2 / 1
2026-10-19	Unavailable	Unavailable	2 / 1
2026-10-20	Unavailable	Unavailable	2 / 1
2026-10-21	Unavailable	Unavailable	2 / 1
2026-10-22	Unavailable	Unavailable	2 / 1
2026-10-23	Unavailable	Unavailable	2 / 1
2026-10-24	Unavailable	Unavailable	2 / 1

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	1	2	1
2026-06-01	1	2	1
2026-07-01	1	2	1
2026-08-01	1	2	1
2026-09-01	1	2	1
2026-10-01	1	2	1

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 1 Buy / Strong Buy · 2 Hold · 1 Sell / Strong Sell

0 upgrades0 downgrades4 maintains

Recent actions · Sep 25–Oct 24 · 4 recorded

Price-target changes

30 days

○ Previous · ● Latest · common dollar scale

Evercore ISIOct 9 · prior Jul 10

$36.00 → $34.00-5.6%

Goldman SachsOct 2

$31.00New observation · no comparable prior

$0$19.80$39.60

0 raises · 1 cuts · 0 unchanged · 1 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Invest in distribution capabilities and EMEA presenceDirect metric needs a verified mapping
Expand platform in credit and alternativesDirect metric needs a verified mapping
Maintain stable profit margins near current levelsPublished status: Broken
Sustain revenue growth near 3% annuallyDirect metric needs a verified mapping

Next proof point

Oct 27, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

4 of 4 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

1.3%Typical daily move · historical

Downside history

-29.9%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Artisan Partners Asset Management, Inc. outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

APAM is an asset manager with a cash-generative business and a meaningful dividend policy. Its multi-year view is in a watch state, with the recent signal easing from favorable to mildly favorable and recent performance below its industry cohort.

What's priced into Artisan Partners Asset Management, Inc.

The valuation evidence calls APAM cheap versus peers, while the expectations gap is negative, suggesting expectations are not especially demanding. The pricing signal is tagged justified, and the evidence shows low fragility, though confidence in the valuation model is medium.

What the fundamentals likely do

Near term, performance may remain uneven: firm assets under management fell from August to September 2026, and recent financial performance is neutral and below the industry cohort. Management continues to emphasize credit, alternatives, distribution, and EMEA, but progress is mixed; its dividend policy is tied to cash from operations, which was higher in 2026-Q1 than in 2025-Q1.

What Artisan Partners Asset Management, Inc. hinges on

A guidance cut at the next call would be a meaningful negative, while the evidence describes near-term miss risk as low. The sector backdrop is a headwind if rate cuts begin, while continued strong earnings and higher guidance from sector bellwethers such as BLK, BX, and KKR could support sector momentum.