Artisan Partners Asset Management Inc. (NYSE:APAM) Stock Position Increased by Drake & Associates LLC

Drake & Associates LLC boosted its stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 31.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,174 shares of the asset manager's stock after purchasing an additional 9,518 shares during the period. Drake & Associates LLC owned approximately 0.05% of Artisan Partners Asset Management worth $1,571,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Oppenheimer & Co. Inc. acquired a new stake in shares of Artisan Partners Asset Management in the fourth quarter worth $255,000. Smartleaf Asset Management LLC increased its position in shares of Artisan Partners Asset Management by 166.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,027 shares of the asset manager's stock worth $44,000 after acquiring an additional 642 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Artisan Partners Asset Management by 21.6% in the fourth quarter. Jones Financial Companies Lllp now owns 2,650 shares of the asset manager's stock worth $114,000 after acquiring an additional 470 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Artisan Partners Asset Management in the fourth quarter worth $57,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Artisan Partners Asset Management by 4.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,772,632 shares of the asset manager's stock worth $119,362,000 after acquiring an additional 128,717 shares in the last quarter. Hedge funds and other institutional investors own 86.45% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. TD Cowen dropped their price objective on shares of Artisan Partners Asset Management from $46.00 to $35.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Wall Street Zen raised shares of Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Cowen reaffirmed a "hold" rating on shares of Artisan Partners Asset Management in a report on Wednesday, May 14th. TD Securities raised their price target on shares of Artisan Partners Asset Management from $35.00 to $39.00 and gave the company a "hold" rating in a report on Thursday, May 1st. Finally, Evercore ISI lowered their price target on shares of Artisan Partners Asset Management from $33.00 to $32.00 and set an "in-line" rating for the company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Artisan Partners Asset Management has a consensus rating of "Hold" and an average target price of $37.90.

Insider Activity

In other news, CFO Charles J. Daley, Jr. sold 15,448 shares of Artisan Partners Asset Management stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $40.45, for a total value of $624,871.60. Following the completion of the transaction, the chief financial officer directly owned 91,363 shares of the company's stock, valued at approximately $3,695,633.35. The trade was a 14.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Samuel Bentson Sellers sold 6,801 shares of Artisan Partners Asset Management stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $44.24, for a total transaction of $300,876.24. Following the completion of the transaction, the executive vice president directly owned 40,529 shares of the company's stock, valued at $1,793,002.96. This trade represents a 14.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.53% of the company's stock.

Artisan Partners Asset Management Stock Down 0.2%

APAM stock traded down $0.08 during mid-day trading on Monday, hitting $46.41. 669,881 shares of the company were exchanged, compared to its average volume of 505,471. The company has a market capitalization of $3.74 billion, a PE ratio of 12.82 and a beta of 1.70. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.51. Artisan Partners Asset Management Inc. has a twelve month low of $32.75 and a twelve month high of $49.54. The firm has a fifty day simple moving average of $42.08 and a 200 day simple moving average of $41.39.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The asset manager reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.07. Artisan Partners Asset Management had a net margin of 23.24% and a return on equity of 73.48%. The company had revenue of $277.10 million during the quarter, compared to analyst estimates of $281.15 million. During the same period last year, the business earned $0.76 EPS. The firm's revenue for the quarter was up 4.8% compared to the same quarter last year. On average, research analysts forecast that Artisan Partners Asset Management Inc. will post 3.6 earnings per share for the current fiscal year.

Artisan Partners Asset Management Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 5.86%. The ex-dividend date of this dividend was Friday, May 16th. Artisan Partners Asset Management's dividend payout ratio (DPR) is presently 75.14%.

Artisan Partners Asset Management Company Profile

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.