Mirae Asset Global Investments Co. Ltd. Purchases 6,508 Shares of Artisan Partners Asset Management Inc. (NYSE:APAM)

Mirae Asset Global Investments Co. Ltd. grew its position in Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 12.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,100 shares of the asset manager's stock after purchasing an additional 6,508 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.07% of Artisan Partners Asset Management worth $2,234,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of APAM. Larson Financial Group LLC boosted its stake in 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 acquiring an additional 263 shares in the last quarter. Bessemer Group Inc. boosted its stake in Artisan Partners Asset Management by 208.6% during the fourth quarter. Bessemer Group Inc. now owns 574 shares of the asset manager's stock worth $25,000 after acquiring an additional 388 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in 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 acquiring an additional 330 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Artisan Partners Asset Management by 166.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,027 shares of the asset manager's stock worth $44,000 after acquiring an additional 642 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Artisan Partners Asset Management during the fourth quarter worth $57,000. 86.45% of the stock is owned by institutional investors.

Artisan Partners Asset Management Stock Performance

NYSE APAM traded down $0.01 during trading hours on Friday, reaching $46.49. 298,790 shares of the company were exchanged, compared to its average volume of 504,811. Artisan Partners Asset Management Inc. has a 1 year low of $32.75 and a 1 year high of $49.54. The business's 50 day simple moving average is $41.90 and its 200-day simple moving average is $41.38. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $3.75 billion, a P/E ratio of 12.84 and a beta of 1.70.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The asset manager reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.07. Artisan Partners Asset Management had a net margin of 23.24% and a return on equity of 73.48%. The business had revenue of $277.10 million during the quarter, compared to the consensus estimate of $281.15 million. During the same quarter last year, the company posted $0.76 earnings per share. The firm's quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts expect that Artisan Partners Asset Management Inc. will post 3.6 earnings per share for the current year.

Artisan Partners Asset Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.72 dividend on an annualized basis and a yield of 5.85%. Artisan Partners Asset Management's dividend payout ratio (DPR) is presently 75.14%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Evercore ISI lowered their price objective on shares of 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 shares of Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. TD Cowen lowered 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 report on Wednesday, April 9th. Royal Bank Of Canada increased their target price on shares of 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, Cowen reiterated a "hold" rating on shares of Artisan Partners Asset Management in a report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Artisan Partners Asset Management presently has a consensus rating of "Hold" and a consensus target price of $37.90.

Insider Transactions at Artisan Partners Asset Management

In related news, CFO Charles J. Daley, Jr. sold 15,448 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer owned 91,363 shares in the company, valued at approximately $3,695,633.35. This trade represents a 14.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Samuel Bentson Sellers sold 6,801 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $44.24, for a total transaction of $300,876.24. Following the sale, the executive vice president owned 40,529 shares of the company's stock, valued at $1,793,002.96. This trade represents a 14.37% decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.53% of the company's stock.

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.