Shares of Artisan Partners Asset Management Inc. (NYSE:APAM – Get Free Report) passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $37.97 and traded as low as $35.53. Artisan Partners Asset Management shares last traded at $35.6930, with a volume of 729,050 shares trading hands.
Analyst Ratings Changes
Several research firms have issued reports on APAM. Weiss Ratings reiterated a “hold (c)” rating on shares of Artisan Partners Asset Management in a research report on Thursday, July 2nd. Zacks Research raised shares of Artisan Partners Asset Management from a “strong sell” rating to a “hold” rating in a report on Monday, September 14th. Evercore set a $36.00 target price on shares of Artisan Partners Asset Management in a research report on Friday, July 10th. TD Cowen reaffirmed a “hold” rating and issued a $37.00 target price on shares of Artisan Partners Asset Management in a report on Friday, September 11th. Finally, Royal Bank Of Canada lifted their price target on shares of Artisan Partners Asset Management from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Artisan Partners Asset Management has a consensus rating of “Hold” and an average price target of $38.00.
Read Our Latest Analysis on APAM
Artisan Partners Asset Management Trading Up 1.0%
Artisan Partners Asset Management (NYSE:APAM – Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The asset manager reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.03. Artisan Partners Asset Management had a return on equity of 73.11% and a net margin of 24.08%.The business had revenue of $307.91 million for the quarter, compared to analysts’ expectations of $301.32 million. During the same quarter last year, the firm earned $0.83 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis. On average, research analysts forecast that Artisan Partners Asset Management Inc. will post 3.91 earnings per share for the current fiscal year.
Artisan Partners Asset Management Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 8.9%. This is a boost from Artisan Partners Asset Management’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Monday, August 17th. Artisan Partners Asset Management’s dividend payout ratio is 77.67%.
Insider Buying and Selling at Artisan Partners Asset Management
In other news, EVP Gregory Ramirez sold 7,000 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $42.59, for a total value of $298,130.00. Following the completion of the sale, the executive vice president owned 109,194 shares in the company, valued at approximately $4,650,572.46. This trade represents a 6.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 11.30% of the stock is owned by insiders.
Hedge Funds Weigh In On Artisan Partners Asset Management
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vaughan Nelson Investment Management L.P. increased its stake in Artisan Partners Asset Management by 12.6% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,587,946 shares of the asset manager’s stock worth $94,175,000 after buying an additional 289,105 shares during the period. Wasatch Advisors LP increased its position in shares of Artisan Partners Asset Management by 8.4% during the second quarter. Wasatch Advisors LP now owns 1,704,243 shares of the asset manager’s stock worth $58,848,000 after acquiring an additional 132,708 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Artisan Partners Asset Management by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,670,380 shares of the asset manager’s stock worth $60,782,000 after acquiring an additional 30,863 shares in the last quarter. Capital World Investors boosted its holdings in Artisan Partners Asset Management by 8.0% in the fourth quarter. Capital World Investors now owns 910,522 shares of the asset manager’s stock valued at $37,095,000 after purchasing an additional 67,074 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. boosted its holdings in Artisan Partners Asset Management by 25.9% in the first quarter. Punch & Associates Investment Management Inc. now owns 551,336 shares of the asset manager’s stock valued at $20,063,000 after purchasing an additional 113,491 shares during the last quarter. 86.45% of the stock is owned by institutional investors and hedge funds.
About Artisan Partners Asset Management
Artisan Partners Asset Management Inc is a global investment management company headquartered in Milwaukee, Wisconsin. Through its subsidiaries and investment teams, the company provides actively managed investment strategies to institutional investors, financial intermediaries and private clients.
The firm offers a range of equity, fixed-income and alternative investment strategies, including U.S. and international equities, emerging-market investments, credit and other specialized portfolios.
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