BUZZ-Artisan Partners shares fall as assets under management in September failed to meet expectations

October 12 - ** Asset management company Artisan Partners (APAM.N) shares fell 4% to $32.14

** APAM released preliminary assets under management data as of September 30 late Friday; this figure was about 80 basis points below TD Cowen’s expectations

** “We expect the stock to underperform or decline on October 12, reflecting higher-than-expected client outflows in September and continued earnings downside pressure,” said TD Cowen analysts

** The firm has lowered its target price from $37 to $33, representing 1.4% downside from the prior close

** Of four brokerages, one rates it “Buy,” two rate it “Hold,” and one rates it “Sell”; the median price target is $34.50—data compiled by LSEG

** As of the last trading day’s close, APAM shares were down 16.8% year-to-date

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