Petrus Trust Company LTA Acquires Shares of 12,273 Artisan Partners Asset Management Inc. $APAM

Key Points

• Petrus Trust Company LTA has acquired 12,273 shares of Artisan Partners Asset Management Inc., valued at approximately $480,000, during Q1 2023.
• Artisan Partners has declared a quarterly dividend of $0.73 per share, an increase from the previous $0.68, providing a yield of 6.3%.
• The stock's current price is $46.32, with a market cap of $3.74 billion, and has seen a revenue increase of 4.4% compared to the same quarter last year.

Petrus Trust Company LTA purchased a new stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 12,273 shares of the asset manager's stock, valued at approximately $480,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vident Advisory LLC lifted its position in shares of 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. Napatree Capital LLC lifted its position in shares of Artisan Partners Asset Management by 1.8% during the 1st quarter. Napatree Capital LLC now owns 16,843 shares of the asset manager's stock valued at $659,000 after acquiring an additional 301 shares during the period. Isthmus Partners LLC raised its position in shares of Artisan Partners Asset Management by 0.7% during the 1st quarter. Isthmus Partners LLC now owns 69,534 shares of the asset manager's stock worth $2,719,000 after purchasing an additional 497 shares during the last quarter. RDA Financial Network raised its position in shares of Artisan Partners Asset Management by 5.9% during the 1st quarter. RDA Financial Network now owns 9,129 shares of the asset manager's stock worth $357,000 after purchasing an additional 510 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in shares of Artisan Partners Asset Management by 3.1% during the 1st quarter. Cetera Investment Advisers now owns 18,216 shares of the asset manager's stock worth $712,000 after purchasing an additional 541 shares during the last quarter. 86.45% of the stock is currently owned by institutional investors and hedge funds.

Artisan Partners Asset Management Stock Down 1.2%

Artisan Partners Asset Management stock traded down $0.59 during trading on Friday, reaching $46.58. 125,142 shares of the company's stock were exchanged, compared to its average volume of 562,319. The company's 50-day moving average is $46.44 and its two-hundred day moving average is $42.40. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 0.97. Artisan Partners Asset Management Inc. has a 52-week low of $32.75 and a 52-week high of $49.54. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of 12.39 and a beta of 1.71.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The asset manager reported $0.83 earnings per share for the quarter, topping 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 firm had revenue of $282.80 million during the quarter, compared to analysts' expectations of $269.00 million. During the same period in the prior year, the company earned $0.82 EPS. The firm's revenue was up 4.4% on a year-over-year basis. On average, analysts predict that Artisan Partners Asset Management Inc. will post 3.6 earnings per share for the current year.

Artisan Partners Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 6.3%. 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. Artisan Partners Asset Management's dividend payout ratio is currently 77.66%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on APAM shares. Royal Bank Of Canada lifted their price objective on Artisan Partners Asset Management from $50.00 to $51.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Evercore ISI lifted their price objective 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. Wall Street Zen upgraded Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Finally, Zacks Research downgraded Artisan Partners Asset Management from a "strong-buy" rating to a "hold" rating in a research report on Monday. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $41.90.

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.