Artisan Partners Asset Management (NYSE:APAM) EVP Gregory Ramirez Sells 7,000 Shares

Key Points

• Executive vice president Gregory Ramirez sold 7,000 APAM shares at an average price of $42.59, generating $298,130 and reducing his direct stake by 6.02% to 109,194 shares.
• Artisan Partners reported quarterly EPS of $0.94, exceeding the $0.91 consensus estimate, while revenue rose 8.9% year over year to $307.91 million.
• The company increased its quarterly dividend to $0.80 per share, representing a $3.20 annualized payout and a 7.6% yield. Analysts maintain a consensus “Reduce” rating with an average price target of $38.00.

Artisan Partners Asset Management Inc. (NYSE:APAM - Get Free Report) EVP Gregory Ramirez sold 7,000 shares of Artisan Partners Asset Management stock in a transaction on 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 directly owned 109,194 shares of the company's stock, valued at $4,650,572.46. The trade was a 6.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Artisan Partners Asset Management Stock Performance

Artisan Partners Asset Management stock traded down $0.46 during mid-day trading on Thursday, reaching $42.04. 442,359 shares of the stock traded hands, compared to its average volume of 769,771. Artisan Partners Asset Management Inc. has a 12-month low of $33.96 and a 12-month high of $47.57. The business's 50-day moving average is $38.44 and its 200-day moving average is $38.39. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $3.41 billion, a PE ratio of 10.20 and a beta of 1.67.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The asset manager reported $0.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $301.32 million. During the same period in the previous year, the company posted $0.83 EPS. The business's quarterly revenue was up 8.9% compared to the same quarter last year. As a group, sell-side analysts predict that Artisan Partners Asset Management Inc. will post 3.91 EPS for the current fiscal year.

Artisan Partners Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be issued a dividend of $0.80 per share. This is an increase from Artisan Partners Asset Management's previous quarterly dividend of $0.77. This represents a $3.20 dividend on an annualized basis and a yield of 7.6%. The ex-dividend date of this dividend is Monday, August 17th. Artisan Partners Asset Management's dividend payout ratio is currently 77.67%.

Analyst Ratings Changes

Several brokerages have recently weighed in on APAM. Zacks Research cut shares of Artisan Partners Asset Management from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 22nd. Evercore set a $36.00 price objective on Artisan Partners Asset Management in a research note on Friday, July 10th. Royal Bank Of Canada boosted their price target on Artisan Partners Asset Management from $44.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday, July 30th. TD Cowen upped their price target on Artisan Partners Asset Management from $35.00 to $37.00 and gave the stock a "hold" rating in a research report on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Artisan Partners Asset Management in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $38.00.

Institutional Trading of Artisan Partners Asset Management

Hedge funds and other institutional investors have recently modified their holdings of the company. Trust Co. of Vermont bought a new position in Artisan Partners Asset Management in the 2nd quarter worth $28,000. Triumph Capital Management boosted its stake in shares of Artisan Partners Asset Management by 112.5% in the fourth quarter. Triumph Capital Management now owns 850 shares of the asset manager's stock worth $35,000 after acquiring an additional 450 shares during the period. Garton & Associates Financial Advisors LLC bought a new position in shares of Artisan Partners Asset Management in the fourth quarter worth about $37,000. IFP Advisors Inc grew its position in shares of Artisan Partners Asset Management by 45.8% during the third quarter. IFP Advisors Inc now owns 955 shares of the asset manager's stock worth $41,000 after purchasing an additional 300 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in Artisan Partners Asset Management during the 4th quarter valued at approximately $51,000. 86.45% of the stock is owned by hedge funds and other institutional investors.

About Artisan Partners Asset Management

Artisan Partners Asset Management Inc is a global investment management firm that specializes in active, fundamental research-driven strategies across a range of equity, fixed income and alternative asset classes. Founded in 1994 by Andrew Ziegler, the company has built a reputation for its team-based approach to portfolio construction, emphasizing deep sector expertise and independent analysis. Its product lineup includes U.S. and international equity strategies, global emerging markets, as well as credit and multisector fixed income offerings.

Artisan Partners serves a diverse client base that spans institutional investors, intermediaries and high-net-worth individuals located in North America, Europe and Asia.

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