Drake & Associates LLC Raises Position in Artisan Partners Asset Management Inc. (NYSE:APAM)

Drake & Associates LLC raised its stake in Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 31.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,174 shares of the asset manager's stock after acquiring an additional 9,518 shares during the period. Drake & Associates LLC owned approximately 0.05% of Artisan Partners Asset Management worth $1,571,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its holdings in Artisan Partners Asset Management by 1.4% in the 1st quarter. Bank of New York Mellon Corp now owns 448,003 shares of the asset manager's stock valued at $17,517,000 after acquiring an additional 6,393 shares during the last quarter. OneDigital Investment Advisors LLC increased its holdings in Artisan Partners Asset Management by 9.0% in the 1st quarter. OneDigital Investment Advisors LLC now owns 12,738 shares of the asset manager's stock valued at $498,000 after acquiring an additional 1,047 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Artisan Partners Asset Management by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 349,308 shares of the asset manager's stock valued at $13,658,000 after acquiring an additional 7,972 shares during the last quarter. KBC Group NV increased its holdings in Artisan Partners Asset Management by 36.2% in the 1st quarter. KBC Group NV now owns 3,996 shares of the asset manager's stock valued at $156,000 after acquiring an additional 1,062 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Artisan Partners Asset Management by 20.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 14,457 shares of the asset manager's stock valued at $565,000 after acquiring an additional 2,481 shares during the last quarter. 86.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Artisan Partners Asset Management

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

Artisan Partners Asset Management Stock Down 0.0%

Shares of APAM traded down $0.01 during mid-day trading on Friday, hitting $46.49. The company's stock had a trading volume of 298,790 shares, compared to its average volume of 504,811. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of 12.84 and a beta of 1.70. The company's 50-day moving average is $41.90 and its 200-day moving average is $41.38. Artisan Partners Asset Management Inc. has a 52-week low of $32.75 and a 52-week 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 business had revenue of $277.10 million for the quarter, compared to analysts' expectations of $281.15 million. Artisan Partners Asset Management had a return on equity of 73.48% and a net margin of 23.24%. The business's revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.76 EPS. On average, equities research analysts forecast that Artisan Partners Asset Management Inc. will post 3.6 EPS for the current fiscal year.

Artisan Partners Asset Management Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a dividend of $0.68 per share. The ex-dividend date was Friday, May 16th. This represents a $2.72 annualized dividend and a yield of 5.85%. Artisan Partners Asset Management's dividend payout ratio (DPR) is presently 75.14%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Cowen restated a "hold" rating on shares of Artisan Partners Asset Management in a report on Wednesday, May 14th. Evercore ISI reduced their target price on shares of 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. TD Cowen dropped their price target on shares of Artisan Partners Asset Management from $46.00 to $35.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. TD Securities upped their target price on shares of Artisan Partners Asset Management from $35.00 to $39.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. Finally, Wall Street Zen upgraded Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average 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.