Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.14, read 2026-10-24
Ethical does not pass the values gate
Price34.73 USD
Fair value41.88
Ethical score30.0/100
Our investment reviews on this name
2026-10-11Read Distribution35.78-2.9% to today ✓Markdown gives way to Distribution after a 14% slide in 3 weeks
2026-09-21Read Markdown41.57-16.5% to today ✓Markup gives way to Markdown with volume flow in agreement
2026-08-21Read Markup41.67-16.7% to today Accumulation gives way to Markup after a 16% rise in 7 weeks
2026-07-02Read Accumulation35.88-3.2% to today First review on file: Accumulation
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Artisan Partners Asset Management Inc. holds its Distribution at $34.73. Consolidating, no directional conviction, held for 1 days.
As held on the ledger · 2026-10-28
Phase
Distribution · caution
Quantitative state
Consolidating, no directional conviction, held for 1 days
Price at the screen
$34.73
Valuation
8.00 trailing · 9.11 forward price to earnings
Values screen
FAIL· score 30.0
Beta
1.69
The Workings
Five Screens, Shown in Full
Does not pass. Prohibited keyword in sector/industry: financial services
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Prohibited keyword in sector/industry: financial services
Fail
Debt load
Excluded
Below 33%
Interest-bearing debt is of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
Excluded
Below 33%
Interest-bearing cash and securities are of assets, above the one-third limit.
Fail
Receivables
Excluded
Below 49%
Money owed to the company is of assets, above the 49% limit.
Fail
Revenue purity
Excluded
Below 5%
of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Artisan Partners Asset Management does not clear the screen at the business-activity stage. It operates in conventional financial services, which the screen treats as interest-based, so the financial ratios are not the deciding factor here.
Read as at 2026-10-28. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when APAM's ethical verdict changes
Today APAM does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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Fair value range in USD, drawn from the 2026-10-28 screen. The gold marker is the market price at the same screen. A 20.6% margin of safety to the base estimate.
Third-party analyst targets: 4 covering, consensus Hold. The average target sits −4% from the screen price.
Reading the gap · Our model sees value the Street hasn't fully caught up to yet.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-28 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Ethics block this high-ROE asset manager
Money moves from pension pots to endowments every quarter, yet Artisan Partners sits in the one sector our screen rules out on sight. Financial services alone triggers the fail, so the 72 percent ROE and 23 percent margins never get a look in. We pass for that reason alone, regardless of the 9.5 times forward earnings or 9 percent revenue growth.
The business itself shows steady client flows across mutual funds and trusts, with solid cash generation that typical peers would envy. Four analysts sit on a hold rating with a $36 median target below the current price, which already prices in modest expectations. Nothing here screams broken, yet the ethical line stays firm.
Cyclical flows tied to markets remain the obvious risk, and any downturn would squeeze fees quickly. The unknown moat adds another layer of uncertainty around long-term pricing power. Analysis, not advice.
The risks · The things to watch: it already moves more than the market on an average day.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
APAM trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-27Distribution$32.76+0.0%Entry 18
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are down 9%. Our forward projection puts the odds of a 10% gain over the next month near 15%. The street (4 analysts) rates it none, with a mean price target of $38. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-26Distribution$32.76+0.0%Entry 17
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are down 9%. Our forward projection puts the odds of a 10% gain over the next month near 15%. The street (4 analysts) rates it none, with a mean price target of $38. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-25Distribution$32.76+0.0%Entry 16
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is momentum reading bearish. Over the past year the shares are down 9%. Our forward projection puts the odds of a 10% gain over the next month near 15%. The street (4 analysts) rates it none, with a mean price target of $38. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-24Distribution$32.76+0.0%Entry 15
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is momentum reading bearish. Over the past year the shares are down 9%. Our forward projection puts the odds of a 10% gain over the next month near 15%. The street (4 analysts) rates it none, with a mean price target of $38. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-23Distribution$32.76+0.0%Entry 14
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is momentum reading bearish. Over the past year the shares are down 9%. Our forward projection puts the odds of a 10% gain over the next month near 15%. The street (4 analysts) rates it none, with a mean price target of $38. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-22Distribution$32.76+0.0%Entry 13
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is momentum reading bearish. Over the past year the shares are down 9%. Our forward projection puts the odds of a 10% gain over the next month near 15%. The street (4 analysts) rates it none, with a mean price target of $38. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-21Distribution$32.76+0.0%Entry 12
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is momentum reading bearish. Over the past year the shares are down 9%. Our forward projection puts the odds of a 10% gain over the next month near 15%. The street (4 analysts) rates it none, with a mean price target of $38. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-20Distribution$32.76+0.0%Entry 11
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is momentum reading bearish. Over the past year the shares are down 9%. Our forward projection puts the odds of a 10% gain over the next month near 15%. The street (4 analysts) rates it none, with a mean price target of $38. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-18Distribution$32.76-8.4%Entry 10
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 8.4% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 9%. Our forward projection puts the odds of a 10% gain over the next month near 15%. The street (4 analysts) rates it none, with a mean price target of $38.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 9%. Our forward projection puts the odds of a 10% gain over the next month near 15%. The street (4 analysts) rates it none, with a mean price target of $38.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
