Millennium Management LLC Buys 217,552 Shares of Artisan Partners Asset Management Inc. (NYSE:APAM)

Millennium Management LLC increased its holdings in Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 98.2% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 439,057 shares of the asset manager's stock after buying an additional 217,552 shares during the quarter. Millennium Management LLC owned about 0.55% of Artisan Partners Asset Management worth $18,901,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Artisan Partners Asset Management by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 8,097,132 shares of the asset manager's stock valued at $348,582,000 after purchasing an additional 78,979 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Artisan Partners Asset Management by 4.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,772,632 shares of the asset manager's stock valued at $119,362,000 after purchasing an additional 128,717 shares during the period. Geode Capital Management LLC grew its stake in shares of Artisan Partners Asset Management by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 1,813,598 shares of the asset manager's stock valued at $78,092,000 after purchasing an additional 38,284 shares during the period. Channing Capital Management LLC grew its stake in shares of Artisan Partners Asset Management by 14.5% during the 4th quarter. Channing Capital Management LLC now owns 1,770,526 shares of the asset manager's stock valued at $76,221,000 after purchasing an additional 224,455 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its stake in shares of Artisan Partners Asset Management by 3.7% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,589,586 shares of the asset manager's stock valued at $68,432,000 after purchasing an additional 56,190 shares during the period. 86.45% of the stock is currently owned by institutional investors.

Artisan Partners Asset Management Price Performance

NYSE APAM traded up $0.86 during trading hours on Tuesday, reaching $41.29. The company's stock had a trading volume of 942,806 shares, compared to its average volume of 490,225. The firm's 50-day moving average price is $38.77 and its 200-day moving average price is $42.36. The company has a quick ratio of 0.73, a current ratio of 0.56 and a debt-to-equity ratio of 0.47. 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 market capitalization of $3.32 billion, a price-to-earnings ratio of 11.34 and a beta of 1.68.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The asset manager reported $0.83 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $277.10 million for the quarter, compared to analysts' expectations of $281.15 million. During the same period in the previous year, the firm earned $0.76 EPS. The firm's revenue was up 4.8% compared to the same quarter last year. On average, equities 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 firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a $0.68 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.72 dividend on an annualized basis and a yield of 6.59%. Artisan Partners Asset Management's dividend payout ratio is presently 75.14%.

Insider Buying and Selling

In other Artisan Partners Asset Management news, EVP Samuel Bentson Sellers sold 6,801 shares of Artisan Partners Asset Management stock in a transaction that occurred 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 sale, the executive vice president now 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 12.53% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on APAM shares. TD Cowen cut their price target on 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. Royal Bank of Canada boosted their price target on Artisan Partners Asset Management from $43.00 to $44.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Wall Street Zen raised Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Evercore ISI lowered 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 research report on Thursday, May 1st. Finally, Cowen reaffirmed a "hold" rating on shares of Artisan Partners Asset Management in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Artisan Partners Asset Management currently has an average 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.