Artisan Partners Asset Management Inc. (NYSE:APAM) Stake Increased by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in Artisan Partners Asset Management by 46.3%, owning 255,418 shares valued at nearly $10 million as of the end of the first quarter.
• Artisan Partners has reported a quarterly earnings per share (EPS) of $0.83, surpassing estimates, with revenue up 4.4% year-over-year.
• The company plans to increase its quarterly dividend to $0.73 per share, representing an annual yield of 6.0%, with the dividend payout ratio at 72.34%.

Public Sector Pension Investment Board boosted its holdings in Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 46.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 255,418 shares of the asset manager's stock after acquiring an additional 80,874 shares during the period. Public Sector Pension Investment Board owned 0.32% of Artisan Partners Asset Management worth $9,987,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Napatree Capital LLC boosted its position in shares of Artisan Partners Asset Management by 1.8% in the first quarter. Napatree Capital LLC now owns 16,843 shares of the asset manager's stock worth $659,000 after acquiring an additional 301 shares during the last quarter. Stifel Financial Corp boosted its position in shares of Artisan Partners Asset Management by 0.3% in the fourth quarter. Stifel Financial Corp now owns 120,023 shares of the asset manager's stock worth $5,167,000 after acquiring an additional 319 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Artisan Partners Asset Management by 208.6% in the fourth quarter. Bessemer Group Inc. now owns 574 shares of the asset manager's stock worth $25,000 after acquiring an additional 388 shares during the last quarter. Isthmus Partners LLC raised its holdings in Artisan Partners Asset Management by 0.7% in the first quarter. Isthmus Partners LLC now owns 69,534 shares of the asset manager's stock valued at $2,719,000 after buying an additional 497 shares during the period. Finally, RDA Financial Network lifted its position in Artisan Partners Asset Management by 5.9% during the first quarter. RDA Financial Network now owns 9,129 shares of the asset manager's stock valued at $357,000 after buying an additional 510 shares in the last quarter. 86.45% of the stock is owned by institutional investors and hedge funds.

Artisan Partners Asset Management Stock Down 3.0%

Shares of APAM traded down $1.45 during mid-day trading on Friday, reaching $46.34. 638,506 shares of the stock traded hands, compared to its average volume of 591,923. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of 12.32 and a beta of 1.69. The stock has a fifty day simple moving average of $45.28 and a 200 day simple moving average of $42.08. Artisan Partners Asset Management Inc. has a 12-month low of $32.75 and a 12-month high of $49.54. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.48.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The asset manager reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.01. The company had revenue of $282.80 million for the quarter, compared to analyst estimates of $269.00 million. Artisan Partners Asset Management had a net margin of 23.87% and a return on equity of 71.72%. The business's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.82 earnings per share. Sell-side analysts expect that Artisan Partners Asset Management Inc. will post 3.6 EPS for the current fiscal year.

Artisan Partners Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 6.3%. This is a boost from Artisan Partners Asset Management's previous quarterly dividend of $0.68. The ex-dividend date is Friday, August 15th. Artisan Partners Asset Management's payout ratio is presently 72.34%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. TD Securities lifted 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 research report on Thursday, May 1st. Evercore ISI reduced their price target on shares of Artisan Partners Asset Management from $33.00 to $32.00 and set an "in-line" rating on the stock in a research report on Thursday, May 1st. Royal Bank Of Canada lifted their price target on shares of Artisan Partners Asset Management from $50.00 to $51.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Cowen reaffirmed a "hold" rating on shares of Artisan Partners Asset Management in a research report on Wednesday, May 14th. Finally, Wall Street Zen raised shares of Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $39.30.

Insider Activity

In related news, CFO Charles J. Daley, Jr. sold 15,448 shares of Artisan Partners Asset Management stock in a transaction on 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 sale, the chief financial officer owned 91,363 shares in the company, valued at approximately $3,695,633.35. The trade was a 14.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.53% of the company's stock.

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.