Artisan Partners Asset Management Inc. $APAM Shares Sold by Channing Capital Management LLC

Key Points

• Channing Capital Management LLC has reduced its stake in Artisan Partners Asset Management Inc. by 2.5%, now holding 1,725,705 shares after selling 44,821 shares during the first quarter.
• Artisan Partners Asset Management recently announced a quarterly dividend increase to $0.73 per share, representing an annual yield of 6.5%, with a payout ratio of about 77.66%.
• Artisan Partners reported $0.83 EPS for the last quarter, exceeding estimates by $0.01, along with revenue of $282.80 million, a 4.4% increase year-over-year.

Channing Capital Management LLC decreased its holdings in Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,725,705 shares of the asset manager's stock after selling 44,821 shares during the quarter. Artisan Partners Asset Management comprises approximately 2.0% of Channing Capital Management LLC's portfolio, making the stock its 23rd biggest holding. Channing Capital Management LLC owned about 2.15% of Artisan Partners Asset Management worth $67,475,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Continuum Advisory LLC acquired a new stake in shares of Artisan Partners Asset Management in the first quarter valued at about $63,000. CWM LLC lifted its position in shares of Artisan Partners Asset Management by 77.0% during the 1st quarter. CWM LLC now owns 2,126 shares of the asset manager's stock valued at $83,000 after acquiring an additional 925 shares during the period. NBC Securities Inc. boosted its stake in shares of Artisan Partners Asset Management by 118,700.0% during the 1st 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. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Artisan Partners Asset Management in the 1st quarter worth approximately $137,000. Finally, KBC Group NV increased its stake in Artisan Partners Asset Management by 36.2% in the 1st quarter. KBC Group NV now owns 3,996 shares of the asset manager's stock valued at $156,000 after purchasing an additional 1,062 shares in the last quarter. 86.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Artisan Partners Asset Management

In other news, CFO Charles J. Daley, Jr. sold 15,448 shares of the business'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 completion of the transaction, the chief financial officer owned 91,363 shares of the company's stock, valued at $3,695,633.35. The trade was a 14.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 12.53% of the stock is currently owned by corporate insiders.

Artisan Partners Asset Management Trading Down 0.5%

Shares of NYSE:APAM traded down $0.2150 during trading on Monday, reaching $46.5050. The stock had a trading volume of 297,377 shares, compared to its average volume of 577,770. The business has a fifty day moving average price of $45.63 and a 200-day moving average price of $42.10. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.48. The stock has a market cap of $3.75 billion, a P/E ratio of 12.37 and a beta of 1.69. Artisan Partners Asset Management Inc. has a fifty-two week low of $32.75 and a fifty-two week high of $49.54.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The asset manager reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.01. The business had revenue of $282.80 million during the quarter, compared to analyst estimates of $269.00 million. Artisan Partners Asset Management had a net margin of 23.87% and a return on equity of 71.72%. The company's revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.82 earnings per share. As a group, analysts anticipate that Artisan Partners Asset Management Inc. will post 3.6 earnings per share for the current fiscal year.

Artisan Partners Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a $0.73 dividend. This is a boost from Artisan Partners Asset Management's previous quarterly dividend of $0.68. This represents a $2.92 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend is Friday, August 15th. Artisan Partners Asset Management's dividend payout ratio (DPR) is presently 77.66%.

Wall Street Analyst Weigh In

APAM has been the subject of several research reports. TD Securities lifted their price target on Artisan Partners Asset Management from $35.00 to $39.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. Royal Bank Of Canada upped their price target on shares of Artisan Partners Asset Management from $50.00 to $51.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Cowen reaffirmed a "hold" rating on shares of Artisan Partners Asset Management in a report on Wednesday, May 14th. Evercore ISI reduced 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 report on Thursday, May 1st. Finally, Wall Street Zen raised shares of Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $39.30.

Artisan Partners Asset Management Profile

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.