Artisan Partners Asset Management Inc. $APAM Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its stake in Artisan Partners Asset Management by 0.3% in Q1, retaining approximately 8.15% of the company valued at $255.8 million.
• Artisan Partners has received mixed reviews from analysts, with one upgrade to a "buy" rating and a consensus price target of $39.30.
• The company announced a quarterly dividend increase to $0.73 per share, reflecting a 6.3% yield, up from the previous dividend of $0.68.

Kayne Anderson Rudnick Investment Management LLC reduced its holdings in shares of Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 0.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 6,543,446 shares of the asset manager's stock after selling 18,155 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 8.15% of Artisan Partners Asset Management worth $255,849,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of APAM. SVB Wealth LLC bought a new stake in shares of Artisan Partners Asset Management during the 1st quarter worth approximately $33,000. Continuum Advisory LLC bought a new stake in shares of Artisan Partners Asset Management during the 1st quarter worth approximately $63,000. CWM LLC lifted its stake in shares of Artisan Partners Asset Management by 77.0% during 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. NBC Securities Inc. lifted its stake in shares of Artisan Partners Asset Management by 118,700.0% during the 1st quarter. NBC Securities Inc. now owns 2,376 shares of the asset manager's stock worth $92,000 after acquiring an additional 2,374 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Artisan Partners Asset Management during the 1st quarter worth approximately $137,000. 86.45% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Artisan Partners Asset Management news, CFO Charles J. Daley, Jr. sold 15,448 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $40.45, for a total transaction of $624,871.60. Following the completion of the sale, the chief financial officer directly owned 91,363 shares in the company, valued at approximately $3,695,633.35. The trade was a 14.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 12.53% of the company's stock.

Artisan Partners Asset Management Stock Performance

APAM traded down $0.38 on Friday, reaching $46.78. 85,809 shares of the stock were exchanged, compared to its average volume of 570,382. The firm has a market capitalization of $3.78 billion, a PE ratio of 12.44 and a beta of 1.69. The company's 50-day moving average price is $46.02 and its 200 day moving average price is $42.21. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.97 and a quick ratio of 0.97. Artisan Partners Asset Management Inc. has a fifty-two week low of $32.75 and a fifty-two week high of $49.54.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The asset manager reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $269.00 million. During the same quarter in the previous year, the firm posted $0.82 EPS. The company's revenue for the quarter was up 4.4% on a year-over-year basis. As a group, sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $0.73 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.92 annualized dividend and a dividend yield of 6.2%. This is a boost from Artisan Partners Asset Management's previous quarterly dividend of $0.68. Artisan Partners Asset Management's dividend payout ratio (DPR) is presently 77.66%.

Wall Street Analyst Weigh In

Several research analysts have commented on APAM shares. Royal Bank Of Canada raised their price objective 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. Evercore ISI reduced their price objective 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 report on Tuesday, May 20th. Cowen restated a "hold" rating on shares of Artisan Partners Asset Management in a report on Wednesday, May 14th. Finally, TD Securities raised their price objective on Artisan Partners Asset Management from $35.00 to $39.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Artisan Partners Asset Management presently has a consensus rating of "Hold" and an average target price of $39.30.

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.