Mackenzie Financial Corp Purchases New Holdings in Artisan Partners Asset Management Inc. (NYSE:APAM)

Mackenzie Financial Corp purchased a new stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 43,012 shares of the asset manager's stock, valued at approximately $1,852,000. Mackenzie Financial Corp owned about 0.05% of Artisan Partners Asset Management as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of APAM. Bessemer Group Inc. boosted its stake in Artisan Partners Asset Management by 208.6% during 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 lifted its holdings in shares of Artisan Partners Asset Management by 82.7% during the fourth quarter. Larson Financial Group LLC now owns 581 shares of the asset manager's stock worth $25,000 after buying an additional 263 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 worth $27,000 after buying an additional 330 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Artisan Partners Asset Management by 166.8% in the fourth 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 period. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Artisan Partners Asset Management in the fourth quarter worth $57,000. Institutional investors own 86.45% of the company's stock.

Insider Activity

In other news, EVP Samuel Bentson Sellers sold 6,801 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $44.24, for a total value of $300,876.24. Following the completion of the sale, the executive vice president now directly owns 40,529 shares in the company, valued at approximately $1,793,002.96. This trade represents a 14.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 12.53% of the stock is currently owned by corporate insiders.

Artisan Partners Asset Management Price Performance

Shares of APAM traded up $0.07 during mid-day trading on Wednesday, reaching $40.52. The company had a trading volume of 334,826 shares, compared to its average volume of 494,761. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.56 and a quick ratio of 0.73. The company has a market capitalization of $3.25 billion, a P/E ratio of 11.13 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's 50-day moving average is $38.76 and its 200-day moving average is $42.10.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $277.10 million during the quarter, compared to analyst estimates of $281.15 million. Artisan Partners Asset Management had a return on equity of 74.02% and a net margin of 23.36%. The business's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.76 earnings per share. On average, equities analysts anticipate that Artisan Partners Asset Management Inc. will post 3.6 EPS for the current year.

Artisan Partners Asset Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 6.71%. The ex-dividend date of this dividend was Friday, May 16th. Artisan Partners Asset Management's payout ratio is 75.14%.

Wall Street Analysts Forecast Growth

APAM has been the subject of a number of research reports. Cowen reissued a "hold" rating on shares of Artisan Partners Asset Management in a report on Wednesday, May 14th. TD Cowen reduced their target price on shares of Artisan Partners Asset Management from $46.00 to $35.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Evercore ISI lowered their price target on Artisan Partners Asset Management from $33.00 to $32.00 and set an "in-line" rating on the stock in a research note on Thursday, May 1st. Royal Bank of Canada upped their price target 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. Finally, TD Securities lifted 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 sell rating, four have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Artisan Partners Asset Management has a consensus rating of "Hold" and an average target price of $37.90.

Artisan Partners Asset Management 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.