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Bull of the Day: Artisan Partners (APAM)

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With the market pushing up to new all-time highs every day, most stocks are getting in on the action. They say a high tide rises all the ships in the harbor and that is certainly the case with stocks. Eventually, the market will get tested. When it does, you want to make sure you are invested in stocks with the strongest earnings. Strong earnings will help the cream rise to the top.

One top stock to take a look at is today’s Bull of the Day, Artisan Partners (APAM - Free Report) . Artisan Partners Asset Management Inc. is publicly owned investment manager. It provides its services to pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. funds, as well as mutual funds, non-U.S. funds and collective trusts. It manages separate client-focused equity and fixed income portfolios. The firm invests in the public equity and fixed income markets across the globe. It invests in growth and value stocks of companies across all market capitalization. For fixed income component of its portfolio the firm invests in non-investment grade corporate bonds and secured and unsecured loans.

The stock is currently a Zacks Rank #1 (Strong Buy). The reason for the favorable rank lies in the series of earnings estimate revisions coming in to the upside for the stock. Over the last sixty days, three analysts have increased their earnings estimates for the current year. That bullish behavior have pushed up our Zacks Consensus Estimate from $2.77 to $2.98. That has helped underpin a move higher in the stock.

Artisan Partners Asset Management Inc. Price and Consensus

Artisan Partners Asset Management Inc. Price and Consensus

Artisan Partners Asset Management Inc. price-consensus-chart | Artisan Partners Asset Management Inc. Quote

It makes sense for a company in the investment management business to see increased earnings estimates. As the market goes higher, fees increase, which help these stocks make more money. The Financial – Investment Management industry is in the Top 6% of our Zacks Industry Rank.

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