Mirae Asset Global Investments Co. Ltd. Buys 6,986 Shares of Artisan Partners Asset Management Inc. $APAM

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Artisan Partners Asset Management Inc. by 12.2%, acquiring an additional 6,986 shares during the 2nd quarter, bringing its total to 64,086 shares valued at approximately $2.84 million.
• Artisan Partners reported a quarterly EPS of $0.83, exceeding analyst expectations, and showed a revenue increase of 4.4% year-over-year to $282.80 million.
• The company recently announced a dividend increase to $0.73 per share, providing an annual yield of 6.7%, up from the previous dividend of $0.68.

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 12.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,086 shares of the asset manager's stock after acquiring an additional 6,986 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.08% of Artisan Partners Asset Management worth $2,841,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of APAM. Nuveen LLC acquired a new position in Artisan Partners Asset Management during the 1st quarter valued at about $17,671,000. Punch & Associates Investment Management Inc. grew its stake in shares of Artisan Partners Asset Management by 3,362.7% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 437,067 shares of the asset manager's stock worth $17,089,000 after purchasing an additional 424,445 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in shares of Artisan Partners Asset Management by 24.0% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,970,796 shares of the asset manager's stock valued at $77,057,000 after purchasing an additional 381,210 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Artisan Partners Asset Management by 67,047.1% in the first quarter. Harbor Capital Advisors Inc. now owns 253,816 shares of the asset manager's stock valued at $9,924,000 after acquiring an additional 253,438 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Artisan Partners Asset Management by 6.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,940,562 shares of the asset manager's stock valued at $114,976,000 after acquiring an additional 167,930 shares in the last quarter. Institutional investors own 86.45% of the company's stock.

Artisan Partners Asset Management Stock Down 0.1%

Shares of NYSE APAM opened at $43.49 on Wednesday. The firm has a 50-day moving average price of $45.67 and a 200 day moving average price of $42.83. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 11.57 and a beta of 1.72. Artisan Partners Asset Management Inc. has a 52 week low of $32.75 and a 52 week high of $49.54.

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 analysts' consensus estimates of $0.82 by $0.01. The company had revenue of $282.80 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 earnings per share. Equities research 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 was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $0.73 dividend. The ex-dividend date was Friday, August 15th. This is an increase from Artisan Partners Asset Management's previous quarterly dividend of $0.68. This represents a $2.92 dividend on an annualized basis and a yield of 6.7%. Artisan Partners Asset Management's payout ratio is 77.66%.

Analyst Ratings Changes

Several analysts have issued reports on APAM shares. Evercore ISI upped their target price on Artisan Partners Asset Management from $43.00 to $45.00 and gave the company an "in-line" rating in a report on Friday, September 5th. Royal Bank Of Canada upped their price target on 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. TD Cowen lowered their price objective on shares of Artisan Partners Asset Management from $47.00 to $43.00 and set a "hold" rating for the company in a research note on Monday, September 15th. Weiss Ratings reissued a "buy (b)" rating on shares of Artisan Partners Asset Management in a research note on Saturday, September 27th. Finally, Zacks Research downgraded Artisan Partners Asset Management from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $44.50.

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.

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