Envestnet Portfolio Solutions Inc. Boosts Stock Position in Artisan Partners Asset Management Inc. $APAM

Key Points

• Envestnet Portfolio Solutions Inc. increased its stake in Artisan Partners Asset Management by 133.3% during Q2, bringing its total to 25,785 shares valued at $1,143,000.
• Artisan Partners recently increased its quarterly dividend to $0.73, representing an annualized yield of 6.8% and a payout ratio of 77.66%.
• Analysts have a mixed outlook with Artisan Partners, as Zacks downgraded it to a "hold" while others set a target price ranging from $43 to $51, reflecting a cautious market sentiment.

Envestnet Portfolio Solutions Inc. lifted its position in Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 133.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,785 shares of the asset manager's stock after buying an additional 14,735 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Artisan Partners Asset Management were worth $1,143,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Artisan Partners Asset Management by 12.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,100 shares of the asset manager's stock valued at $2,234,000 after buying an additional 6,508 shares during the period. Drake & Associates LLC increased its holdings in Artisan Partners Asset Management by 31.0% during the 1st quarter. Drake & Associates LLC now owns 40,174 shares of the asset manager's stock worth $1,571,000 after purchasing an additional 9,518 shares during the period. Principal Financial Group Inc. increased its holdings in Artisan Partners Asset Management by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 349,308 shares of the asset manager's stock worth $13,658,000 after purchasing an additional 7,972 shares during the period. Twelve Points Wealth Management LLC increased its holdings in Artisan Partners Asset Management by 7.6% during the 1st quarter. Twelve Points Wealth Management LLC now owns 77,190 shares of the asset manager's stock worth $3,018,000 after purchasing an additional 5,478 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Artisan Partners Asset Management by 1.4% during the 1st quarter. Bank of New York Mellon Corp now owns 448,003 shares of the asset manager's stock worth $17,517,000 after purchasing an additional 6,393 shares during the period. Hedge funds and other institutional investors own 86.45% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Zacks Research downgraded Artisan Partners Asset Management from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Evercore ISI cut their price target on Artisan Partners Asset Management from $45.00 to $43.00 and set an "in-line" rating on the stock in a report on Thursday, October 9th. Weiss Ratings restated a "buy (b-)" rating on shares of Artisan Partners Asset Management in a report on Tuesday, October 14th. Royal Bank Of Canada upped their price target 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 Cowen cut their price target on Artisan Partners Asset Management from $47.00 to $43.00 and set a "hold" rating on the stock in a report on Monday, September 15th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $44.00.

Artisan Partners Asset Management Trading Down 1.3%

APAM opened at $43.11 on Friday. Artisan Partners Asset Management Inc. has a one year low of $32.75 and a one year high of $49.54. The company has a market cap of $3.48 billion, a P/E ratio of 11.47 and a beta of 1.72. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 0.97. The business's 50-day simple moving average is $45.33 and its 200-day simple moving average is $43.01.

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 business had revenue of $282.80 million for the quarter, compared to the consensus estimate of $269.00 million. During the same quarter in the prior year, the business posted $0.82 EPS. The business's revenue for the quarter 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 fiscal year.

Artisan Partners Asset Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date was Friday, August 15th. This is an increase from Artisan Partners Asset Management's previous quarterly dividend of $0.68. Artisan Partners Asset Management's dividend payout ratio (DPR) is currently 77.66%.

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.

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