Artisan Partners Asset Management Inc. $APAM Shares Bought by Kestra Investment Management LLC

Key Points

• Kestra Investment Management LLC increased its stake in Artisan Partners Asset Management by 32.8%, owning approximately 63,878 shares valued at about $2.5 million.
• Artisan Partners reported earnings per share (EPS) of $0.83 for the latest quarter, exceeding estimates and showing a 4.4% growth in revenue year-over-year.
• The firm recently declared a quarterly dividend of $0.73 per share, representing a 6.3% annual yield, up from the previous dividend of $0.68.

Kestra Investment Management LLC increased its stake in Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 32.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 63,878 shares of the asset manager's stock after buying an additional 15,792 shares during the quarter. Kestra Investment Management LLC owned about 0.08% of Artisan Partners Asset Management worth $2,498,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. SVB Wealth LLC acquired a new stake in shares of Artisan Partners Asset Management in the first quarter valued at about $33,000. Continuum Advisory LLC acquired a new stake in shares of Artisan Partners Asset Management in the first quarter valued at about $63,000. CWM LLC grew its stake in shares of Artisan Partners Asset Management by 77.0% in the first quarter. CWM LLC now owns 2,126 shares of the asset manager's stock valued at $83,000 after buying an additional 925 shares in the last quarter. NBC Securities Inc. grew its stake in shares of Artisan Partners Asset Management by 118,700.0% in the first quarter. NBC Securities Inc. now owns 2,376 shares of the asset manager's stock valued at $92,000 after buying an additional 2,374 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Artisan Partners Asset Management in the first quarter valued at about $137,000. Institutional investors and hedge funds own 86.45% of the company's stock.

Analysts Set New Price Targets

APAM has been the subject of a number of recent research reports. Evercore ISI increased their target price on Artisan Partners Asset Management from $43.00 to $45.00 and gave the company an "in-line" rating in a research note on Friday, September 5th. Royal Bank Of Canada raised their price objective on Artisan Partners Asset Management from $50.00 to $51.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Wall Street Zen upgraded Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Finally, Zacks Research lowered Artisan Partners Asset Management from a "strong-buy" rating to a "hold" rating in a research note on Monday. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $41.90.

Artisan Partners Asset Management Stock Down 1.0%

NYSE APAM traded down $0.47 during mid-day trading on Friday, reaching $46.69. 145,715 shares of the company's stock traded hands, compared to its average volume of 562,436. Artisan Partners Asset Management Inc. has a 1-year low of $32.75 and a 1-year high of $49.54. The company has a fifty day simple moving average of $46.44 and a 200-day simple moving average of $42.40. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 12.42 and a beta of 1.71.

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 for the quarter, beating analysts' consensus estimates of $0.82 by $0.01. The firm had revenue of $282.80 million during the quarter, compared to analyst estimates of $269.00 million. Artisan Partners Asset Management had a return on equity of 71.72% and a net margin of 23.87%.Artisan Partners Asset Management's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.82 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 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 6.3%. The ex-dividend date was Friday, August 15th. This is a positive change from Artisan Partners Asset Management's previous quarterly dividend of $0.68. Artisan Partners Asset Management's payout ratio is 77.66%.

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.