Artisan Partners Asset Management Inc. (NYSE:APAM) Position Increased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. lifted its stake in Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 67,047.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 253,816 shares of the asset manager's stock after buying an additional 253,438 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.32% of Artisan Partners Asset Management worth $9,924,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. lifted its stake in shares of Artisan Partners Asset Management by 208.6% in the 4th quarter. Bessemer Group Inc. now owns 574 shares of the asset manager's stock valued at $25,000 after purchasing an additional 388 shares during the period. Larson Financial Group LLC increased its holdings in Artisan Partners Asset Management by 82.7% in the 4th quarter. Larson Financial Group LLC now owns 581 shares of the asset manager's stock worth $25,000 after acquiring an additional 263 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Artisan Partners Asset Management by 110.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 628 shares of the asset manager's stock valued at $27,000 after purchasing an additional 330 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Artisan Partners Asset Management by 166.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,027 shares of the asset manager's stock valued at $44,000 after purchasing an additional 642 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in Artisan Partners Asset Management in the fourth quarter valued at approximately $57,000. 86.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

APAM has been the topic of a number of analyst reports. Cowen restated a "hold" rating on shares of Artisan Partners Asset Management in a research report on Wednesday, May 14th. TD Cowen decreased their price objective on shares of Artisan Partners Asset Management from $46.00 to $35.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. TD Securities boosted their target price on shares of Artisan Partners Asset Management from $35.00 to $39.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Evercore ISI cut their price objective on shares of Artisan Partners Asset Management from $33.00 to $32.00 and set an "in-line" rating for the company in a research report on Thursday, May 1st. Finally, Royal Bank of Canada upped their price target on Artisan Partners Asset Management from $43.00 to $44.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $37.90.

Insider Activity at Artisan Partners Asset Management

In other news, EVP Samuel Bentson Sellers sold 6,801 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $44.24, for a total transaction of $300,876.24. Following the transaction, the executive vice president now directly owns 40,529 shares of the company's stock, valued at $1,793,002.96. This represents a 14.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Charles J. Daley, Jr. sold 15,448 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $40.45, for a total value of $624,871.60. Following the completion of the transaction, the chief financial officer now owns 91,363 shares of the company's stock, valued at approximately $3,695,633.35. This represents a 14.46% decrease in their position. The disclosure for this sale can be found here. Insiders own 12.53% of the company's stock.

Artisan Partners Asset Management Trading Down 1.7%

Shares of NYSE APAM traded down $0.71 during trading on Friday, hitting $42.27. 665,615 shares of the company were exchanged, compared to its average volume of 496,900. The company has a fifty day moving average price of $39.40 and a 200-day moving average price of $41.82. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.73 and a current ratio of 0.56. The firm has a market capitalization of $3.41 billion, a PE ratio of 11.61 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.

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 for the quarter, topping analysts' consensus estimates of $0.76 by $0.07. The firm had revenue of $277.10 million during the quarter, compared to analysts' expectations of $281.15 million. Artisan Partners Asset Management had a net margin of 23.36% and a return on equity of 74.02%. The firm's quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the company posted $0.76 EPS. 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 Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.72 annualized dividend and a dividend yield of 6.43%. Artisan Partners Asset Management's dividend payout ratio is presently 75.14%.

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.