Bank of America Corp DE increased its holdings in Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 11.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 343,520 shares of the asset manager's stock after purchasing an additional 33,921 shares during the period. Bank of America Corp DE owned approximately 0.43% of Artisan Partners Asset Management worth $12,501,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in APAM. Vaughan Nelson Investment Management L.P. grew its position in Artisan Partners Asset Management by 12.6% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 2,587,946 shares of the asset manager's stock valued at $94,175,000 after acquiring an additional 289,105 shares during the period. Channing Capital Management LLC lifted its holdings in Artisan Partners Asset Management by 14.6% during the 4th quarter. Channing Capital Management LLC now owns 1,967,732 shares of the asset manager's stock valued at $80,165,000 after purchasing an additional 250,475 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in Artisan Partners Asset Management by 202.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 348,615 shares of the asset manager's stock valued at $15,130,000 after purchasing an additional 233,523 shares during the last quarter. Public Sector Pension Investment Board boosted its position in Artisan Partners Asset Management by 71.1% in the fourth quarter. Public Sector Pension Investment Board now owns 535,298 shares of the asset manager's stock valued at $21,808,000 after buying an additional 222,532 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in Artisan Partners Asset Management by 44.6% in the fourth quarter. Federated Hermes Inc. now owns 678,894 shares of the asset manager's stock valued at $27,658,000 after buying an additional 209,524 shares in the last quarter. Institutional investors own 86.45% of the company's stock.
Artisan Partners Asset Management Stock Up 0.2%
NYSE:APAM opened at $42.12 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.41. Artisan Partners Asset Management Inc. has a 12-month low of $33.96 and a 12-month high of $47.57. The stock's fifty day simple moving average is $38.70 and its 200-day simple moving average is $38.40. The firm has a market capitalization of $3.41 billion, a P/E ratio of 10.22 and a beta of 1.67.
Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The asset manager reported $0.94 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.03. The business had revenue of $307.91 million during the quarter, compared to the consensus estimate of $301.32 million. Artisan Partners Asset Management had a return on equity of 73.11% and a net margin of 24.08%.The firm's revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.83 earnings per share. Equities research analysts expect that Artisan Partners Asset Management Inc. will post 3.91 earnings per share for the current year.
Artisan Partners Asset Management Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be given a dividend of $0.80 per share. This is a positive change from Artisan Partners Asset Management's previous quarterly dividend of $0.77. This represents a $3.20 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date of this dividend is Monday, August 17th. Artisan Partners Asset Management's payout ratio is 77.67%.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on APAM shares. Weiss Ratings reissued a "hold (c)" rating on shares of Artisan Partners Asset Management in a report on Thursday, July 2nd. Royal Bank Of Canada raised their price target on Artisan Partners Asset Management from $44.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday, July 30th. Evercore set a $36.00 price objective on Artisan Partners Asset Management in a research report on Friday, July 10th. TD Cowen increased their target price on Artisan Partners Asset Management from $35.00 to $37.00 and gave the stock a "hold" rating in a report on Thursday, July 30th. Finally, Zacks Research cut Artisan Partners Asset Management from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Artisan Partners Asset Management currently has an average rating of "Reduce" and a consensus price target of $38.00.
Get Our Latest Research Report on APAM
Insider Activity
In other news, EVP Gregory K. Ramirez sold 7,000 shares of the business's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $42.59, for a total value of $298,130.00. Following the completion of the transaction, the executive vice president owned 109,194 shares of the company's stock, valued at $4,650,572.46. The trade was a 6.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.30% of the stock is owned by company insiders.
About Artisan Partners Asset Management
(
Free Report)
Artisan Partners Asset Management Inc is a global investment management firm that specializes in active, fundamental research-driven strategies across a range of equity, fixed income and alternative asset classes. Founded in 1994 by Andrew Ziegler, the company has built a reputation for its team-based approach to portfolio construction, emphasizing deep sector expertise and independent analysis. Its product lineup includes U.S. and international equity strategies, global emerging markets, as well as credit and multisector fixed income offerings.
Artisan Partners serves a diverse client base that spans institutional investors, intermediaries and high-net-worth individuals located in North America, Europe and Asia.
See Also
Want to see what other hedge funds are holding APAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report).
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