First Citizens Bank & Trust Co. Purchases 14,099 Shares of Artisan Partners Asset Management Inc. $APAM

Key Points

• First Citizens Bank & Trust Co. increased its holdings in Artisan Partners Asset Management by 200.7%, purchasing an additional 14,099 shares, bringing their total to 21,123 shares worth approximately $936,000.
• Artisan Partners recently reported earnings per share (EPS) of $0.83 for the last quarter, exceeding analyst estimates, and generated revenue of $282.80 million, reflecting a 4.4% year-over-year increase.
• The company also declared a quarterly dividend of $0.73 per share, up from the previous dividend of $0.68, marking a 6.7% yield for investors.

First Citizens Bank & Trust Co. lifted its position in shares of Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 200.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,123 shares of the asset manager's stock after purchasing an additional 14,099 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Artisan Partners Asset Management were worth $936,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. SVB Wealth LLC acquired a new position in Artisan Partners Asset Management during the first quarter worth $33,000. Farther Finance Advisors LLC grew its holdings in shares of 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 buying an additional 249 shares during the last quarter. Legend Financial Advisors Inc. bought a new stake in shares of Artisan Partners Asset Management during the second quarter worth about $75,000. CWM LLC raised its holdings in shares of Artisan Partners Asset Management by 77.0% in the 1st quarter. CWM LLC now owns 2,126 shares of the asset manager's stock worth $83,000 after acquiring an additional 925 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in Artisan Partners Asset Management in the 1st quarter valued at about $137,000. Institutional investors and hedge funds own 86.45% of the company's stock.

Artisan Partners Asset Management Stock Performance

Shares of Artisan Partners Asset Management stock opened at $43.48 on Friday. The business's fifty day simple moving average is $44.94 and its 200 day simple moving average is $43.24. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48. Artisan Partners Asset Management Inc. has a 12 month low of $32.75 and a 12 month high of $49.54. The firm has a market capitalization of $3.51 billion, a P/E ratio of 11.56 and a beta of 1.72.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The asset manager reported $0.83 earnings per share (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 during the quarter, compared to the consensus estimate of $269.00 million. During the same quarter in the prior year, the company earned $0.82 EPS. The business's revenue for the quarter was up 4.4% on a year-over-year basis. As a group, analysts anticipate that Artisan Partners Asset Management Inc. will post 3.6 EPS for the current year.

Artisan Partners Asset Management Increases Dividend

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

Analyst Ratings Changes

A number of analysts have commented on the company. Weiss Ratings reissued a "buy (b-)" rating on shares of Artisan Partners Asset Management in a report on Tuesday, October 14th. Zacks Research cut Artisan Partners Asset Management from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. TD Cowen decreased their price target on Artisan Partners Asset Management from $47.00 to $43.00 and set a "hold" rating for the company in a report on Monday, September 15th. Royal Bank Of Canada increased their price target on Artisan Partners Asset Management from $50.00 to $51.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, Evercore ISI cut their price objective on shares of 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. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Artisan Partners Asset Management presently has a consensus rating of "Hold" and a consensus target price of $44.00.

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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