Twelve Points Wealth Management LLC Boosts Stake in Artisan Partners Asset Management Inc. (NYSE:APAM)

Twelve Points Wealth Management LLC grew its stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 7.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 77,190 shares of the asset manager's stock after acquiring an additional 5,478 shares during the period. Artisan Partners Asset Management comprises approximately 0.8% of Twelve Points Wealth Management LLC's investment portfolio, making the stock its 24th biggest holding. Twelve Points Wealth Management LLC owned approximately 0.10% of Artisan Partners Asset Management worth $3,018,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its stake in Artisan Partners Asset Management by 4.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,838 shares of the asset manager's stock worth $208,000 after buying an additional 226 shares in the last quarter. Larson Financial Group LLC raised its stake in Artisan Partners Asset Management by 82.7% in the fourth quarter. Larson Financial Group LLC now owns 581 shares of the asset manager's stock worth $25,000 after buying an additional 263 shares in the last quarter. Stifel Financial Corp raised its stake in 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 buying an additional 319 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Artisan Partners Asset Management by 110.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 628 shares of the asset manager's stock worth $27,000 after buying an additional 330 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in 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 buying an additional 388 shares in the last quarter. Institutional investors own 86.45% of the company's stock.

Insiders Place Their Bets

In other news, CFO Charles J. Daley, Jr. sold 15,448 shares of the business's stock in a transaction 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 directly owned 91,363 shares of the company's stock, valued at $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 available through this hyperlink. Also, EVP Samuel Bentson Sellers sold 6,801 shares of the company's stock in a transaction on 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 sale, the executive vice president directly owned 40,529 shares in the company, valued at approximately $1,793,002.96. The trade was a 14.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.53% of the stock is owned by insiders.

Artisan Partners Asset Management Stock Performance

Shares of APAM traded down $1.26 during trading hours on Friday, reaching $46.86. 947,845 shares of the company traded hands, compared to its average volume of 505,288. The stock has a market capitalization of $3.78 billion, a P/E ratio of 12.94 and a beta of 1.70. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.51. Artisan Partners Asset Management Inc. has a 12-month low of $32.75 and a 12-month high of $49.54. The business has a fifty day moving average price of $42.80 and a 200-day moving average price of $41.49.

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, beating analysts' consensus estimates of $0.76 by $0.07. The firm had revenue of $277.10 million for the quarter, compared to analyst estimates of $281.15 million. Artisan Partners Asset Management had a net margin of 23.24% and a return on equity of 73.48%. The business's quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.76 earnings per share. Equities analysts anticipate 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 disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date was Friday, May 16th. Artisan Partners Asset Management's dividend payout ratio (DPR) is presently 75.14%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on APAM. Royal Bank Of Canada upped their price target on Artisan Partners Asset Management from $44.00 to $50.00 and gave the stock an "outperform" rating in a research report on Thursday. Evercore ISI reduced 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 research report on Thursday, May 1st. TD Securities upped their price target on Artisan Partners Asset Management from $35.00 to $39.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. TD Cowen reduced their price target on Artisan Partners Asset Management from $46.00 to $35.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. Finally, Wall Street Zen raised 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 issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $39.10.

Artisan Partners Asset Management 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.