Martingale Asset Management L P Has $2.20 Million Stock Position in Artisan Partners Asset Management Inc. $APAM

Key Points

• Martingale Asset Management L P increased its holdings in Artisan Partners Asset Management by 11.5%, owning around $2.20 million worth of shares after acquiring an additional 5,794 shares in the first quarter.
• Artisan Partners recently declared a quarterly dividend of $0.73, up from $0.68, representing a 6.3% yield based on an annualized payout.
• A consensus rating of "Hold" has been established for Artisan Partners, with a price target ranging from $32.00 to $51.00 among various analysts.

Martingale Asset Management L P increased its position in shares of Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 11.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,226 shares of the asset manager's stock after acquiring an additional 5,794 shares during the quarter. Martingale Asset Management L P owned 0.07% of Artisan Partners Asset Management worth $2,198,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Artisan Partners Asset Management by 12.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,100 shares of the asset manager's stock worth $2,234,000 after purchasing an additional 6,508 shares during the period. First Citizens Bank & Trust Co. acquired a new position in Artisan Partners Asset Management in the 1st quarter worth approximately $275,000. Drake & Associates LLC boosted its stake in Artisan Partners Asset Management by 31.0% in the 1st quarter. Drake & Associates LLC now owns 40,174 shares of the asset manager's stock worth $1,571,000 after purchasing an additional 9,518 shares during the period. Squarepoint Ops LLC boosted its stake in Artisan Partners Asset Management by 80.2% in the 4th quarter. Squarepoint Ops LLC now owns 19,397 shares of the asset manager's stock worth $835,000 after purchasing an additional 8,633 shares during the period. Finally, Twelve Points Wealth Management LLC boosted its stake in Artisan Partners Asset Management by 7.6% in the 1st quarter. Twelve Points Wealth Management LLC now owns 77,190 shares of the asset manager's stock worth $3,018,000 after purchasing an additional 5,478 shares during the period. Institutional investors and hedge funds own 86.45% of the company's stock.

Artisan Partners Asset Management Stock Up 0.9%

Artisan Partners Asset Management stock traded up $0.41 during mid-day trading on Wednesday, hitting $47.43. 370,006 shares of the company's stock were exchanged, compared to its average volume of 573,524. 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 stock has a market cap of $3.83 billion, a P/E ratio of 12.61 and a beta of 1.69. Artisan Partners Asset Management Inc. has a 1-year low of $32.75 and a 1-year high of $49.54. The stock has a 50 day moving average of $45.81 and a two-hundred day moving average of $42.15.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last posted its earnings results on Tuesday, July 29th. The asset manager reported $0.83 EPS for the quarter, topping the consensus estimate of $0.82 by $0.01. The firm had revenue of $282.80 million for the quarter, compared to the consensus estimate of $269.00 million. Artisan Partners Asset Management had a net margin of 23.87% and a return on equity of 71.72%. The business's quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.82 earnings per share. As a group, analysts anticipate that Artisan Partners Asset Management Inc. will post 3.6 EPS for the current fiscal year.

Artisan Partners Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a dividend of $0.73 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.92 dividend on an annualized basis and a yield of 6.2%. This is a positive change 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%.

Analysts Set New Price Targets

Several research firms have weighed in on APAM. 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 research note on Thursday, May 1st. Evercore ISI dropped their price target on shares of 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. Wall Street Zen raised shares of Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Royal Bank Of Canada upped their price target on shares of Artisan Partners Asset Management from $50.00 to $51.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, Cowen reaffirmed a "hold" rating on shares of Artisan Partners Asset Management in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $39.30.

Insiders Place Their Bets

In other Artisan Partners Asset Management news, CFO Charles J. Daley, Jr. sold 15,448 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $40.45, for a total transaction of $624,871.60. Following the completion of the transaction, the chief financial officer owned 91,363 shares of the company's stock, valued at $3,695,633.35. The trade was a 14.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.53% of the stock is currently owned by corporate insiders.

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.