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Burney Co. Makes New Investment in Artisan Partners Asset Management Inc. (NYSE:APAM)

Artisan Partners Asset Management logo with Finance background

Burney Co. acquired a new position in shares of Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 14,376 shares of the asset manager's stock, valued at approximately $562,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Bessemer Group Inc. lifted its stake in shares of 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 acquiring an additional 388 shares in the last quarter. Continuum Advisory LLC acquired a new position in shares of Artisan Partners Asset Management in the first quarter worth about $63,000. CWM LLC lifted its stake in shares of Artisan Partners Asset Management by 77.0% in the first quarter. CWM LLC now owns 2,126 shares of the asset manager's stock worth $83,000 after acquiring an additional 925 shares in the last quarter. NBC Securities Inc. lifted its stake in shares of Artisan Partners Asset Management by 118,700.0% in the first quarter. NBC Securities Inc. now owns 2,376 shares of the asset manager's stock worth $92,000 after acquiring an additional 2,374 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of Artisan Partners Asset Management by 36.2% in the first quarter. KBC Group NV now owns 3,996 shares of the asset manager's stock worth $156,000 after acquiring an additional 1,062 shares in the last quarter. Institutional investors and hedge funds own 86.45% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on APAM shares. Cowen reiterated a "hold" rating on shares of Artisan Partners Asset Management in a research note on Wednesday, May 14th. Wall Street Zen upgraded Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. TD Cowen cut 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 note on Wednesday, April 9th. Evercore ISI lowered 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 report on Thursday, May 1st. Finally, Royal Bank Of Canada boosted their price objective on Artisan Partners Asset Management from $44.00 to $50.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. One equities research 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.com, the stock has a consensus rating of "Hold" and an average target price of $39.10.

Read Our Latest Research Report on Artisan Partners Asset Management

Insider Activity at Artisan Partners Asset Management

In other news, EVP Samuel Bentson Sellers sold 6,801 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $44.24, for a total transaction of $300,876.24. Following the completion of the transaction, the executive vice president directly owned 40,529 shares of the company's stock, valued at approximately $1,793,002.96. This represents a 14.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Charles J. Daley, Jr. sold 15,448 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $40.45, for a total value of $624,871.60. Following the transaction, the chief financial officer directly owned 91,363 shares of the company's stock, valued at $3,695,633.35. This trade represents a 14.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.53% of the stock is currently owned by corporate insiders.

Artisan Partners Asset Management Stock Up 0.3%

Shares of Artisan Partners Asset Management stock opened at $46.65 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.51. The firm has a market cap of $3.76 billion, a P/E ratio of 12.89 and a beta of 1.70. Artisan Partners Asset Management Inc. has a fifty-two week low of $32.75 and a fifty-two week high of $49.54. The business has a 50-day moving average price of $43.68 and a 200 day moving average price of $41.74.

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 the consensus estimate of $0.76 by $0.07. The firm had revenue of $277.10 million during the quarter, compared to analyst estimates of $281.15 million. Artisan Partners Asset Management had a return on equity of 73.48% and a net margin of 23.24%. Artisan Partners Asset Management's quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.76 earnings per share. On average, sell-side analysts forecast 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 announced 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 annualized dividend and a dividend yield of 5.83%. The ex-dividend date of this dividend was Friday, May 16th. Artisan Partners Asset Management's dividend payout ratio (DPR) is presently 75.14%.

Artisan Partners Asset Management Profile

(Free Report)

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.

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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).

Institutional Ownership by Quarter for Artisan Partners Asset Management (NYSE:APAM)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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