Bank of America Corp DE Has $9.13 Million Stake in Artisan Partners Asset Management Inc. (NYSE:APAM)

Bank of America Corp DE decreased its holdings in Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 30.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 211,976 shares of the asset manager's stock after selling 94,196 shares during the quarter. Bank of America Corp DE owned approximately 0.26% of Artisan Partners Asset Management worth $9,126,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of APAM. Bessemer Group Inc. boosted its position in Artisan Partners Asset Management by 208.6% during the 4th quarter. Bessemer Group Inc. now owns 574 shares of the asset manager's stock valued at $25,000 after purchasing an additional 388 shares during the period. Larson Financial Group LLC lifted 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 valued at $25,000 after buying an additional 263 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Artisan Partners Asset Management by 110.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 628 shares of the asset manager's stock worth $27,000 after acquiring an additional 330 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Artisan Partners Asset Management by 166.8% in the 4th 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 during the period. Finally, SBI Securities Co. Ltd. bought a new stake in Artisan Partners Asset Management in the 4th quarter valued at about $57,000. Hedge funds and other institutional investors own 86.45% of the company's stock.

Insiders Place Their Bets

In other Artisan Partners Asset Management news, EVP Samuel Bentson Sellers sold 6,801 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $44.24, for a total transaction of $300,876.24. Following the sale, the executive vice president now owns 40,529 shares in the company, valued at approximately $1,793,002.96. The trade was a 14.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.53% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. TD Securities increased their price objective on Artisan Partners Asset Management from $35.00 to $39.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Wall Street Zen raised shares of Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Evercore ISI dropped 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. Cowen reiterated a "hold" rating on shares of Artisan Partners Asset Management in a report on Wednesday, May 14th. Finally, Royal Bank of Canada raised their price objective on shares of Artisan Partners Asset Management from $43.00 to $44.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Artisan Partners Asset Management currently has a consensus rating of "Hold" and a consensus price target of $37.90.

Artisan Partners Asset Management Price Performance

NYSE:APAM traded down $0.10 during mid-day trading on Thursday, reaching $40.70. 44,561 shares of the stock were exchanged, compared to its average volume of 489,931. The company has a current ratio of 0.56, a quick ratio of 0.73 and a debt-to-equity ratio of 0.47. The business has a fifty day moving average price of $38.78 and a 200 day moving average price of $42.34. Artisan Partners Asset Management Inc. has a 1-year low of $32.75 and a 1-year high of $49.54. The firm has a market capitalization of $3.27 billion, a PE ratio of 11.18 and a beta of 1.68.

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 (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. Artisan Partners Asset Management had a net margin of 23.36% and a return on equity of 74.02%. The company had revenue of $277.10 million for the quarter, compared to analysts' expectations of $281.15 million. During the same quarter in the previous year, the company posted $0.76 EPS. The business's revenue was up 4.8% compared to the same quarter last year. Research analysts expect 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 will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a $0.68 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.72 annualized dividend and a yield of 6.68%. Artisan Partners Asset Management's dividend payout ratio (DPR) is 75.14%.

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.