UPDATE: Goldman Sachs Color on Artio Global Investors PT Increase

Goldman Sachs, which lowerd its PT on shares of Artio Global Investors (NYSE: ART), is providing some color on the stock.

“ART reported June AUM of $46.8 bn, down 4.9% mom and 9% qoq from 1Q2011, below our estimate of $47.2 bn,” Goldman Sachs writes. “We estimate market performance accounted for roughly 150 bp of the monthly decline, which implies outflows above $1.5 bn for the month of June.

“For the quarter, we now estimate nearly $4 bn of outflows (vs. $3.2 bn of outflows last quarter) or 30% annualized organic decay, which will likely once again be among the weakest in the group.”

Artio Global Investors closed Wednesday at $11.52.