Kayne Anderson Rudnick Investment Management LLC Sells 137,442 Shares of Artisan Partners Asset Management Inc. (NYSE:APAM)

Kayne Anderson Rudnick Investment Management LLC decreased its stake in Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,561,601 shares of the asset manager's stock after selling 137,442 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 8.17% of Artisan Partners Asset Management worth $282,477,000 at the end of the most recent quarter.

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

Insider Activity

In other Artisan Partners Asset Management news, EVP Samuel Bentson Sellers sold 6,801 shares of the business'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 sale, the executive vice president now directly owns 40,529 shares of the company's stock, valued at $1,793,002.96. The trade was 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 hyperlink. Corporate insiders own 12.53% of the company's stock.

Artisan Partners Asset Management Stock Down 0.6%

Shares of NYSE APAM traded down $0.26 during midday trading on Friday, hitting $40.46. 171,887 shares of the company's stock were exchanged, compared to its average volume of 491,649. The firm's fifty day simple moving average is $38.76 and its 200-day simple moving average is $42.29. The company has a market cap of $3.25 billion, a PE ratio of 11.10 and a beta of 1.68. Artisan Partners Asset Management Inc. has a twelve month low of $32.75 and a twelve month high of $49.54. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.56 and a quick ratio of 0.73.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The asset manager reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. Artisan Partners Asset Management had a return on equity of 74.02% and a net margin of 23.36%. The business had revenue of $277.10 million during the quarter, compared to the consensus estimate of $281.15 million. During the same quarter in the previous year, the company posted $0.76 EPS. The business's revenue was up 4.8% on a year-over-year basis. Research analysts predict that Artisan Partners Asset Management Inc. will post 3.6 EPS for the current fiscal year.

Artisan Partners Asset Management Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.72 annualized dividend and a dividend yield of 6.72%. Artisan Partners Asset Management's payout ratio is currently 75.14%.

Analyst Ratings Changes

APAM has been the topic of several research reports. Evercore ISI reduced their target price on Artisan Partners Asset Management from $33.00 to $32.00 and set an "in-line" rating on the stock in a report on Thursday, May 1st. Wall Street Zen upgraded Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Cowen reaffirmed a "hold" rating on shares of Artisan Partners Asset Management in a research report on Wednesday, May 14th. TD Securities upped their price objective on shares of Artisan Partners Asset Management from $35.00 to $39.00 and gave the company a "hold" rating in a report on Thursday, May 1st. Finally, Royal Bank of Canada upped their price objective on Artisan Partners Asset Management from $43.00 to $44.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target 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.