Charles Schwab Investment Management Inc. Boosts Stock Holdings in Artisan Partners Asset Management Inc. (NYSE:APAM)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Artisan Partners Asset Management by 6.1%, owning a total of 2,940,562 shares valued at approximately $114.98 million.
• The company recently announced an increase in its quarterly dividend from $0.68 to $0.73, representing an annualized yield of 6.3%.
• Analysts have differing views on APAM's stock, with one investment analyst rating it as a sell, four as hold, and two upgrading it to a buy rating, while the average consensus target price stands at $39.30.

Charles Schwab Investment Management Inc. boosted its position in shares of Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,940,562 shares of the asset manager's stock after buying an additional 167,930 shares during the period. Charles Schwab Investment Management Inc. owned 3.66% of Artisan Partners Asset Management worth $114,976,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Natixis Advisors LLC increased its stake in Artisan Partners Asset Management by 13.6% during the 1st quarter. Natixis Advisors LLC now owns 359,176 shares of the asset manager's stock worth $14,044,000 after buying an additional 43,022 shares in the last quarter. XTX Topco Ltd purchased a new stake in Artisan Partners Asset Management during the 1st quarter worth approximately $549,000. Cetera Investment Advisers boosted its holdings in shares of Artisan Partners Asset Management by 3.1% during the 1st quarter. Cetera Investment Advisers now owns 18,216 shares of the asset manager's stock worth $712,000 after purchasing an additional 541 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of Artisan Partners Asset Management by 3.0% during the 1st quarter. Royce & Associates LP now owns 1,066,936 shares of the asset manager's stock worth $41,717,000 after purchasing an additional 31,211 shares during the last quarter. Finally, AE Wealth Management LLC acquired a new position in shares of Artisan Partners Asset Management during the 1st quarter worth approximately $211,000. 86.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on APAM. Evercore ISI lowered their target price on 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. Wall Street Zen upgraded Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Cowen restated a "hold" rating on shares of Artisan Partners Asset Management in a report on Wednesday, May 14th. Royal Bank Of Canada boosted their target price on Artisan Partners Asset Management from $50.00 to $51.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, TD Securities boosted their target price on Artisan Partners Asset Management from $35.00 to $39.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $39.30.

Artisan Partners Asset Management Trading Up 1.3%

APAM opened at $46.71 on Tuesday. Artisan Partners Asset Management Inc. has a one year low of $32.75 and a one year high of $49.54. The stock has a market capitalization of $3.77 billion, a PE ratio of 12.42 and a beta of 1.69. The business's 50 day moving average price is $44.72 and its 200 day moving average price is $41.98. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 0.97.

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

Artisan Partners Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a $0.73 dividend. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from Artisan Partners Asset Management's previous quarterly dividend of $0.68. This represents a $2.92 dividend on an annualized basis and a yield of 6.3%. Artisan Partners Asset Management's dividend payout ratio is presently 72.34%.

Insider Buying and Selling

In other Artisan Partners Asset Management 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 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 $3,695,633.35. The trade was a 14.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Samuel Bentson Sellers sold 6,801 shares of the business's stock in a transaction that occurred 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 approximately $1,793,002.96. The trade was a 14.37% decrease in their position. The disclosure for this sale can be found here. 12.53% of the stock is owned by insiders.

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.

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