Jennison Associates LLC Has $1.31 Million Stock Holdings in Artisan Partners Asset Management Inc. (NYSE:APAM)

Jennison Associates LLC cut its holdings in shares of Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 22.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,373 shares of the asset manager's stock after selling 9,386 shares during the quarter. Jennison Associates LLC's holdings in Artisan Partners Asset Management were worth $1,305,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its position in shares of Artisan Partners Asset Management by 4.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,838 shares of the asset manager's stock worth $208,000 after acquiring an additional 226 shares in the last quarter. Swiss National Bank grew its position in shares of Artisan Partners Asset Management by 0.7% in the 4th quarter. Swiss National Bank now owns 137,500 shares of the asset manager's stock worth $5,919,000 after acquiring an additional 900 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of Artisan Partners Asset Management by 7.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 8,911 shares of the asset manager's stock worth $384,000 after acquiring an additional 618 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Artisan Partners Asset Management by 10.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 8,547 shares of the asset manager's stock valued at $368,000 after purchasing an additional 841 shares during the period. Finally, Corient Private Wealth LLC acquired a new position in Artisan Partners Asset Management during the 4th quarter valued at approximately $212,000. 86.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Charles J. Daley, Jr. sold 15,448 shares of the company's stock in a transaction dated 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Samuel Bentson Sellers sold 6,801 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was 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 trade represents a 14.37% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 12.53% of the company's stock.

Artisan Partners Asset Management Stock Down 0.6%

NYSE:APAM traded down $0.26 during trading hours on Thursday, hitting $46.64. 175,935 shares of the company's stock traded hands, compared to its average volume of 583,328. The stock's fifty day moving average price is $43.57 and its two-hundred day moving average price is $41.67. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.87 and a current ratio of 0.87. 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 market cap of $3.76 billion, a P/E ratio of 12.90 and a beta of 1.70.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last issued its earnings results on Tuesday, April 29th. The asset manager reported $0.83 EPS 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 the consensus estimate 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 quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 earnings per share. On average, 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 business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were paid a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.72 annualized dividend and a dividend yield of 5.83%. Artisan Partners Asset Management's dividend payout ratio (DPR) is presently 75.14%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Evercore ISI reduced their price objective on Artisan Partners Asset Management from $33.00 to $32.00 and set an "in-line" rating for the company in a research report on Thursday, May 1st. TD Securities boosted their price objective on 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. Cowen restated a "hold" rating on shares of Artisan Partners Asset Management in a research report on Wednesday, May 14th. Wall Street Zen upgraded Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Finally, Royal Bank Of Canada boosted their price objective on Artisan Partners Asset Management from $44.00 to $50.00 and gave the stock an "outperform" rating in a research note on Thursday, July 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $39.10.

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.