Dogwood Wealth Management LLC Trims Stake in Artisan Partners Asset Management Inc. $APAM

Dogwood Wealth Management LLC decreased its position in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 32.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 10,841 shares of the asset manager’s stock after selling 5,145 shares during the period. Dogwood Wealth Management LLC’s holdings in Artisan Partners Asset Management were worth $506,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SVB Wealth LLC purchased a new stake in shares of Artisan Partners Asset Management in the 1st quarter worth approximately $33,000. Farther Finance Advisors LLC boosted its stake in shares of Artisan Partners Asset Management by 24.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,282 shares of the asset manager’s stock worth $57,000 after buying an additional 249 shares during the last quarter. Continuum Advisory LLC purchased a new position in shares of Artisan Partners Asset Management in the 1st quarter worth $63,000. Legend Financial Advisors Inc. bought a new position in Artisan Partners Asset Management in the 2nd quarter worth $75,000. Finally, CWM LLC raised its holdings in Artisan Partners Asset Management by 77.0% in the 1st quarter. CWM LLC now owns 2,126 shares of the asset manager’s stock worth $83,000 after purchasing an additional 925 shares during the period. Hedge funds and other institutional investors own 86.45% of the company’s stock.

Artisan Partners Asset Management Price Performance

Shares of Artisan Partners Asset Management stock opened at $43.45 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.48. The firm has a market cap of $3.51 billion, a PE ratio of 11.56 and a beta of 1.71. Artisan Partners Asset Management Inc. has a twelve month low of $32.75 and a twelve month high of $49.54. The business has a 50-day moving average price of $45.99 and a 200 day moving average price of $42.73.

Artisan Partners Asset Management (NYSE:APAM) last posted its quarterly earnings data on Tuesday, July 29th. The asset manager reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $269.00 million. During the same period in the previous year, the firm posted $0.82 EPS. Artisan Partners Asset Management’s revenue was up 4.4% compared to the same quarter last year. Sell-side analysts predict that Artisan Partners Asset Management Inc. will post 3.6 earnings per share for the current fiscal year.

Artisan Partners Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a dividend of $0.73 per share. The ex-dividend date was Friday, August 15th. This is a positive change from Artisan Partners Asset Management’s previous quarterly dividend of $0.68. This represents a $2.92 annualized dividend and a dividend yield of 6.7%. Artisan Partners Asset Management’s dividend payout ratio (DPR) is presently 77.66%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on APAM shares. TD Cowen decreased their price target on Artisan Partners Asset Management from $47.00 to $43.00 and set a “hold” rating on the stock in a report on Monday, September 15th. Evercore ISI lifted their price target on Artisan Partners Asset Management from $43.00 to $45.00 and gave the stock an “in-line” rating in a research report on Friday, September 5th. Zacks Research lowered Artisan Partners Asset Management from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Finally, Royal Bank Of Canada lifted their price objective on shares of Artisan Partners Asset Management from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $43.50.

About Artisan Partners Asset Management

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.