Charles J. Daley, Jr. Sells 15,448 Shares of Artisan Partners Asset Management Inc. (NYSE:APAM) Stock

Artisan Partners Asset Management Inc. (NYSE:APAM - Get Free Report) CFO Charles J. Daley, Jr. sold 15,448 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $40.45, for a total transaction of $624,871.60. Following the sale, the chief financial officer now owns 91,363 shares of the company's stock, valued at $3,695,633.35. This trade represents a 14.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Artisan Partners Asset Management Price Performance

Shares of NYSE APAM traded up $0.42 during midday trading on Friday, reaching $40.69. 290,413 shares of the stock traded hands, compared to its average volume of 494,287. The stock has a market capitalization of $3.27 billion, a PE ratio of 11.18 and a beta of 1.70. The company's 50 day moving average is $38.78 and its 200 day moving average is $42.05. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.56 and a quick ratio of 0.73. Artisan Partners Asset Management Inc. has a one year low of $32.75 and a one year high of $49.54.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last announced its earnings results on Tuesday, April 29th. The asset manager reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. The firm had revenue of $277.10 million for the quarter, compared to analysts' expectations of $281.15 million. Artisan Partners Asset Management had a net margin of 23.36% and a return on equity of 74.02%. The business's revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 EPS. On average, equities research analysts anticipate that Artisan Partners Asset Management Inc. will post 3.6 earnings per share for the current year.

Artisan Partners Asset Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a $0.68 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.72 dividend on an annualized basis and a yield of 6.69%. Artisan Partners Asset Management's payout ratio is 75.14%.

Institutional Trading of Artisan Partners Asset Management

Several institutional investors and hedge funds have recently made changes to their positions in the business. KBC Group NV boosted its position in Artisan Partners Asset Management by 32.3% in the 4th quarter. KBC Group NV now owns 2,934 shares of the asset manager's stock valued at $126,000 after buying an additional 716 shares during the period. Jennison Associates LLC grew its stake in Artisan Partners Asset Management by 60.8% in the fourth quarter. Jennison Associates LLC now owns 42,759 shares of the asset manager's stock worth $1,841,000 after purchasing an additional 16,166 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Artisan Partners Asset Management by 18.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,592 shares of the asset manager's stock worth $2,225,000 after purchasing an additional 7,966 shares in the last quarter. Choreo LLC purchased a new position in Artisan Partners Asset Management during the 4th quarter worth $295,000. Finally, Measured Wealth Private Client Group LLC raised its position in Artisan Partners Asset Management by 49.0% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 11,428 shares of the asset manager's stock valued at $492,000 after purchasing an additional 3,760 shares in the last quarter. 86.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

APAM has been the topic of a number of analyst reports. Cowen reaffirmed a "hold" rating on shares of Artisan Partners Asset Management in a research report on Wednesday, May 14th. Royal Bank of Canada upped their price target on shares of Artisan Partners Asset Management from $43.00 to $44.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Wall Street Zen raised shares of Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. TD Cowen decreased their target price on Artisan Partners Asset Management from $46.00 to $35.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Finally, Evercore ISI lowered their price target on 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $37.90.

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.

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