Is Artisan Partners Asset Management, Inc. overvalued or undervalued?

As of 9 May 2024, Artisan Partners Asset Management, Inc. has moved from a fair to very attractive valuation grade. The company is currently undervalued, with a P/E ratio of 14, a Price to Book Value of 9.21, and an impressive ROE of 66.27%. In comparison, its peer Janus Henderson Group Plc has a P/E of 14.78, while Main Street Capital Corp. shows a lower P/E of 9.97, indicating that Artisan is positioned favorably against its peers.
The company's EV to EBITDA ratio stands at 6.91, which is competitive when compared to Janus Henderson's 4.74, suggesting that Artisan may offer better value relative to its earnings potential. Additionally, the dividend yield of 8.64% is significantly attractive in the current market environment. Despite a recent underperformance against the S&P 500 over the past year, Artisan's strong financial ratios and peer comparisons reinforce its undervalued status.