Guinness Asset Management LTD Increases Stake in Artisan Partners Asset Management Inc. $APAM

Guinness Asset Management LTD lifted its holdings in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 2.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,917 shares of the asset manager’s stock after purchasing an additional 253 shares during the period. Guinness Asset Management LTD’s holdings in Artisan Partners Asset Management were worth $484,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its position in Artisan Partners Asset Management by 24.1% during the second quarter. Farther Finance Advisors LLC now owns 1,282 shares of the asset manager’s stock valued at $57,000 after buying an additional 249 shares during the period. Maryland State Retirement & Pension System increased its holdings in shares of Artisan Partners Asset Management by 1.2% in the second quarter. Maryland State Retirement & Pension System now owns 20,698 shares of the asset manager’s stock worth $918,000 after buying an additional 251 shares during the period. Salvus Wealth Management LLC lifted its stake in shares of Artisan Partners Asset Management by 5.0% in the 2nd quarter. Salvus Wealth Management LLC now owns 5,554 shares of the asset manager’s stock valued at $246,000 after acquiring an additional 263 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in Artisan Partners Asset Management by 1.0% during the 2nd quarter. Yousif Capital Management LLC now owns 26,077 shares of the asset manager’s stock valued at $1,156,000 after acquiring an additional 265 shares during the period. Finally, Vident Advisory LLC boosted its holdings in Artisan Partners Asset Management by 1.8% during the 1st quarter. Vident Advisory LLC now owns 15,577 shares of the asset manager’s stock valued at $609,000 after acquiring an additional 278 shares during the period. 86.45% of the stock is owned by institutional investors.

Artisan Partners Asset Management Stock Performance

Shares of APAM stock opened at $43.48 on Monday. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 11.56 and a beta of 1.72. The stock has a fifty day moving average of $44.94 and a 200 day moving average of $43.35. Artisan Partners Asset Management Inc. has a 52 week low of $32.75 and a 52 week high of $49.54. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.48.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings data on Tuesday, July 29th. The asset manager reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. Artisan Partners Asset Management had a net margin of 23.87% and a return on equity of 71.72%. The business had revenue of $282.80 million for the quarter, compared to the consensus estimate of $269.00 million. During the same period in the previous year, the firm earned $0.82 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. 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 business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a $0.73 dividend. The ex-dividend date of this dividend was Friday, August 15th. This is an increase from Artisan Partners Asset Management’s previous quarterly dividend of $0.68. This represents a $2.92 dividend on an annualized basis and a yield of 6.7%. Artisan Partners Asset Management’s payout ratio is currently 77.66%.

Analysts Set New Price Targets

A number of equities analysts have commented on APAM shares. Zacks Research cut Artisan Partners Asset Management from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. TD Cowen cut their target price on shares of 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Artisan Partners Asset Management in a research note on Tuesday, October 14th. Royal Bank Of Canada increased their price target on shares of Artisan Partners Asset Management from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Finally, Evercore ISI cut their price target on shares of Artisan Partners Asset Management from $45.00 to $43.00 and set an “in-line” rating on the stock in a report on Thursday, October 9th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Artisan Partners Asset Management has an average rating of “Hold” and an average price target of $44.00.

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.