TD Cowen Stays Selective on Asset Managers, Keeps Hold on Artisan Partners (APAM)

Core Viewpoint - Artisan Partners Asset Management Inc. (NYSE:APAM) is recognized among 13 dividend stocks yielding over 8% [1] Group 1: Analyst Ratings and Market Position - TD Cowen has reduced its price target for Artisan Partners from $46 to $40 while maintaining a Hold rating, indicating a selective approach towards asset managers [2] - The firm maintains a positive outlook on traditional asset managers but is focusing on higher-conviction names, reflecting a "Higher for Longer" rate environment [2] Group 2: Acquisition and Strategic Growth - Artisan Partners announced a definitive agreement to acquire Grandview Property Partners, a real estate private equity firm, which aligns with its long-term strategy [3][4] - The acquisition is expected to close in the first quarter of 2026 and is anticipated to modestly enhance earnings per share once Grandview's next flagship fund reaches its final close [5] - Artisan Partners operates as a global, multi-asset investment platform, offering high-value-added strategies across various asset classes to institutional clients [5]