Bank of New York Mellon Corp Grows Stock Position in Artisan Partners Asset Management Inc. (NYSE:APAM)

Bank of New York Mellon Corp boosted its stake in Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 448,003 shares of the asset manager's stock after acquiring an additional 6,393 shares during the period. Bank of New York Mellon Corp owned 0.56% of Artisan Partners Asset Management worth $17,517,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its position in shares of Artisan Partners Asset Management by 4.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,838 shares of the asset manager's stock valued at $208,000 after purchasing an additional 226 shares during the last quarter. Stifel Financial Corp increased its position in shares of Artisan Partners Asset Management by 0.3% during the 4th quarter. Stifel Financial Corp now owns 120,023 shares of the asset manager's stock valued at $5,167,000 after purchasing an additional 319 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Artisan Partners Asset Management by 110.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 628 shares of the asset manager's stock valued at $27,000 after purchasing an additional 330 shares during the last quarter. Bessemer Group Inc. increased its position in shares of 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 last quarter. Finally, Operose Advisors LLC increased its holdings in Artisan Partners Asset Management by 0.9% in the 4th quarter. Operose Advisors LLC now owns 57,288 shares of the asset manager's stock worth $2,466,000 after acquiring an additional 486 shares in the last quarter. Institutional investors own 86.45% of the company's stock.

Insider Transactions at Artisan Partners Asset Management

In other Artisan Partners Asset Management news, CFO Charles J. Daley, Jr. sold 15,448 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $40.45, for a total value of $624,871.60. Following the sale, the chief financial officer owned 91,363 shares of the company's stock, valued at approximately $3,695,633.35. This represents a 14.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $300,876.24. Following the completion of the sale, the executive vice president directly owned 40,529 shares in the company, valued at $1,793,002.96. This trade represents a 14.37% decrease in their position. The disclosure for this sale can be found here. 12.53% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on APAM. TD Securities increased their target price 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. Evercore ISI lowered their price target 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. 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, TD Cowen lowered their price target on Artisan Partners Asset Management from $46.00 to $35.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $39.10.

Artisan Partners Asset Management Stock Up 2.3%

Shares of APAM traded up $1.03 during midday trading on Tuesday, hitting $46.29. The company had a trading volume of 825,033 shares, compared to its average volume of 509,214. The company's 50-day simple moving average is $43.40 and its 200-day simple moving average is $41.58. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market capitalization of $3.73 billion, a P/E ratio of 12.79 and a beta of 1.70. Artisan Partners Asset Management Inc. has a 1 year low of $32.75 and a 1 year high of $49.54.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last posted its earnings results on Tuesday, April 29th. The asset manager reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.07. Artisan Partners Asset Management had a return on equity of 73.48% and a net margin of 23.24%. The firm had revenue of $277.10 million during the quarter, compared to analysts' expectations of $281.15 million. During the same quarter in the previous year, the business earned $0.76 earnings per share. The firm's revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts expect that Artisan Partners Asset Management Inc. will post 3.6 EPS for the current year.

Artisan Partners Asset Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors 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 yield of 5.88%. The ex-dividend date was Friday, May 16th. Artisan Partners Asset Management's dividend payout ratio is currently 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.