Exchange Traded Concepts LLC Invests $951,000 in Artisan Partners Asset Management Inc. (NYSE:APAM)

Exchange Traded Concepts LLC 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 Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 24,318 shares of the asset manager's stock, valued at approximately $951,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in APAM. Raymond James Financial Inc. acquired a new position in Artisan Partners Asset Management during the fourth quarter worth $20,607,000. Vaughan Nelson Investment Management L.P. boosted its stake in Artisan Partners Asset Management by 24.0% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,970,796 shares of the asset manager's stock worth $77,057,000 after buying an additional 381,210 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in Artisan Partners Asset Management by 67,047.1% during the first quarter. Harbor Capital Advisors Inc. now owns 253,816 shares of the asset manager's stock worth $9,924,000 after buying an additional 253,438 shares during the last quarter. Channing Capital Management LLC boosted its stake in Artisan Partners Asset Management by 14.5% during the fourth quarter. Channing Capital Management LLC now owns 1,770,526 shares of the asset manager's stock worth $76,221,000 after buying an additional 224,455 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Artisan Partners Asset Management by 98.2% during the fourth quarter. Millennium Management LLC now owns 439,057 shares of the asset manager's stock worth $18,901,000 after buying an additional 217,552 shares during the last quarter. Institutional investors and hedge funds own 86.45% of the company's stock.

Artisan Partners Asset Management Price Performance

APAM stock opened at $42.15 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $3.40 billion, a PE ratio of 11.64 and a beta of 1.70. Artisan Partners Asset Management Inc. has a 12-month low of $32.75 and a 12-month high of $49.54. The business's fifty day moving average price is $39.92 and its 200 day moving average price is $41.64.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The asset manager reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. The firm had revenue of $277.10 million for the quarter, compared to the consensus estimate of $281.15 million. Artisan Partners Asset Management had a return on equity of 73.48% and a net margin of 23.24%. The company's quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.76 EPS. On average, sell-side analysts anticipate that Artisan Partners Asset Management Inc. will post 3.6 EPS for the current year.

Artisan Partners Asset Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a $0.68 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.72 annualized dividend and a dividend yield of 6.45%. Artisan Partners Asset Management's dividend payout ratio is presently 75.14%.

Insider Activity at Artisan Partners Asset Management

In other Artisan Partners Asset Management news, EVP Samuel Bentson Sellers sold 6,801 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $44.24, for a total transaction of $300,876.24. Following the sale, the executive vice president now owns 40,529 shares in the company, valued at $1,793,002.96. This represents a 14.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Charles J. Daley, Jr. sold 15,448 shares of the company's stock in a transaction dated 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 now owns 91,363 shares in the company, valued at approximately $3,695,633.35. This trade represents a 14.46% decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.53% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on APAM shares. Royal Bank Of Canada upped their price target on Artisan Partners Asset Management from $43.00 to $44.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Cowen reaffirmed a "hold" rating on shares of Artisan Partners Asset Management in a research note on Wednesday, May 14th. TD Securities upped their price target on Artisan Partners Asset Management from $35.00 to $39.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. Evercore ISI decreased their price target on Artisan Partners Asset Management from $33.00 to $32.00 and set an "in-line" rating on the stock in a research note on Thursday, May 1st. Finally, TD Cowen decreased 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. One 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's stock. According to data from MarketBeat, Artisan Partners Asset Management presently has an average rating of "Hold" and an average target price of $37.90.

Artisan Partners Asset Management Company 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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