Drake & Associates LLC Boosts Holdings in Artisan Partners Asset Management Inc. $APAM

Key Points

• Drake & Associates LLC increased its holdings in Artisan Partners Asset Management by 68.3%, owning a total of 67,608 shares after purchasing an additional 27,434 shares in the second quarter.
• Artisan Partners reported $0.83 earnings per share for the last quarter, exceeding estimates, while also announcing a dividend increase to $0.73 per share with a 6.7% yield.
• Analyst ratings for Artisan Partners are mixed, with two "buy" ratings and five "hold" ratings, and an average target price of $44.50.

Drake & Associates LLC raised its holdings in shares of Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 68.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,608 shares of the asset manager's stock after buying an additional 27,434 shares during the period. Artisan Partners Asset Management comprises 0.7% of Drake & Associates LLC's portfolio, making the stock its 21st largest holding. Drake & Associates LLC owned 0.08% of Artisan Partners Asset Management worth $2,997,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. SVB Wealth LLC bought a new stake in shares of Artisan Partners Asset Management during the 1st quarter valued at $33,000. Farther Finance Advisors LLC grew its holdings in Artisan Partners Asset Management by 24.1% during the second quarter. Farther Finance Advisors LLC now owns 1,282 shares of the asset manager's stock valued at $57,000 after purchasing an additional 249 shares during the period. Continuum Advisory LLC purchased a new stake in Artisan Partners Asset Management in the first quarter worth about $63,000. Legend Financial Advisors Inc. purchased a new stake in Artisan Partners Asset Management in the second quarter worth about $75,000. Finally, CWM LLC raised 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 buying an additional 925 shares during the period. 86.45% of the stock is currently owned by institutional investors.

Artisan Partners Asset Management Stock Down 0.8%

Shares of APAM stock opened at $43.58 on Tuesday. The company's fifty day simple moving average is $45.72 and its two-hundred day simple moving average is $42.82. Artisan Partners Asset Management Inc. has a 52 week low of $32.75 and a 52 week high of $49.54. The stock has a market cap of $3.52 billion, a P/E ratio of 11.59 and a beta of 1.72. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.48.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last issued its earnings results on Tuesday, July 29th. The asset manager reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.01. The firm had revenue of $282.80 million for the quarter, compared to analysts' expectations of $269.00 million. Artisan Partners Asset Management had a return on equity of 71.72% and a net margin of 23.87%.During the same period in the previous year, the firm posted $0.82 earnings per share. The business's revenue was up 4.4% compared to the same quarter last year. Analysts predict that Artisan Partners Asset Management Inc. will post 3.6 EPS for the current fiscal year.

Artisan Partners Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a dividend of $0.73 per share. The ex-dividend date was Friday, August 15th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 6.7%. This is an increase from Artisan Partners Asset Management's previous quarterly dividend of $0.68. Artisan Partners Asset Management's dividend payout ratio is currently 77.66%.

Wall Street Analysts Forecast Growth

APAM has been the topic of a number of recent analyst reports. Royal Bank Of Canada raised their target price on shares of Artisan Partners Asset Management from $50.00 to $51.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Evercore ISI raised their price objective on shares of Artisan Partners Asset Management from $43.00 to $45.00 and gave the company an "in-line" rating in a research report on Friday, September 5th. TD Cowen lowered their target price on shares of Artisan Partners Asset Management from $47.00 to $43.00 and set a "hold" rating on the stock in a research note on Monday, September 15th. Zacks Research lowered Artisan Partners Asset Management from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Artisan Partners Asset Management in a research report on Saturday, September 27th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $44.50.

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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