Federated Hermes Inc. Sells 249,569 Shares of Artisan Partners Asset Management Inc. (NYSE:APAM)

Federated Hermes Inc. reduced its holdings in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 36.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 429,688 shares of the asset manager’s stock after selling 249,569 shares during the period. Federated Hermes Inc. owned about 0.54% of Artisan Partners Asset Management worth $16,801,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Artisan Partners Asset Management by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 8,097,132 shares of the asset manager’s stock worth $348,582,000 after purchasing an additional 78,979 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Artisan Partners Asset Management by 24.0% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,970,796 shares of the asset manager’s stock worth $77,057,000 after purchasing an additional 381,210 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Artisan Partners Asset Management by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 1,813,598 shares of the asset manager’s stock worth $78,092,000 after purchasing an additional 38,284 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Artisan Partners Asset Management by 3.3% in the first quarter. Victory Capital Management Inc. now owns 1,228,743 shares of the asset manager’s stock worth $48,044,000 after purchasing an additional 39,578 shares during the last quarter. Finally, Royce & Associates LP grew its holdings in shares of Artisan Partners Asset Management by 3.0% in the first quarter. Royce & Associates LP now owns 1,066,936 shares of the asset manager’s stock worth $41,717,000 after purchasing an additional 31,211 shares during the last quarter. 86.45% of the stock is currently owned by institutional investors.

Artisan Partners Asset Management Stock Performance

Shares of APAM stock opened at $44.79 on Friday. The stock has a fifty day moving average of $44.04 and a 200 day moving average of $41.88. Artisan Partners Asset Management Inc. has a 52 week low of $32.75 and a 52 week high of $49.54. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 11.91 and a beta of 1.69. The company has a quick ratio of 0.87, a current ratio of 0.70 and a debt-to-equity ratio of 0.48.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings results on Tuesday, July 29th. The asset manager reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. Artisan Partners Asset Management had a return on equity of 71.72% and a net margin of 23.87%. The company had revenue of $282.80 million during the quarter, compared to analyst estimates of $269.00 million. During the same quarter last year, the firm posted $0.82 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis. As a group, research analysts expect that Artisan Partners Asset Management Inc. will post 3.6 earnings per share for the current year.

Artisan Partners Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a dividend of $0.73 per share. This is an increase from Artisan Partners Asset Management’s previous quarterly dividend of $0.68. This represents a $2.92 annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend is Friday, August 15th. Artisan Partners Asset Management’s payout ratio is 75.14%.

Analyst Ratings Changes

APAM has been the topic of several recent analyst reports. Royal Bank Of Canada raised their target price on shares of Artisan Partners Asset Management from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Thursday. Evercore ISI cut their target price on shares of Artisan Partners Asset Management from $33.00 to $32.00 and set an “in-line” rating on the stock in a report on Thursday, May 1st. Cowen restated a “hold” rating on shares of Artisan Partners Asset Management in a report on Wednesday, May 14th. TD Securities raised their target price on shares of Artisan Partners Asset Management from $35.00 to $39.00 and gave the stock a “hold” rating in a report on Thursday, May 1st. Finally, Wall Street Zen raised Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research note on Tuesday, May 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $39.30.

Insider Buying and Selling at Artisan Partners Asset Management

In other Artisan Partners Asset Management news, EVP Samuel Bentson Sellers sold 6,801 shares of the firm’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $44.24, for a total transaction of $300,876.24. Following the completion of the transaction, the executive vice president owned 40,529 shares of the company’s stock, valued at approximately $1,793,002.96. This trade represents a 14.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Charles J. Daley, Jr. sold 15,448 shares of the firm’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $40.45, for a total value of $624,871.60. Following the transaction, the chief financial officer directly owned 91,363 shares of the company’s stock, valued at $3,695,633.35. This represents a 14.46% decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.53% of the company’s stock.

Artisan Partners Asset Management Company Profile

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.