Moran Wealth Management LLC Has $2.16 Million Stock Position in Artisan Partners Asset Management Inc. $APAM

Key Points

• Moran Wealth Management LLC reduced its stake in Artisan Partners Asset Management by 12.1% in Q2, holding 48,623 shares valued at approximately $2.16 million.
• The company increased its quarterly dividend to $0.73 per share, reflecting a yield of 6.6% and a payout ratio of 77.66%.
• Artisan Partners reported a quarterly EPS of $0.83, beating analysts' estimates, and a revenue of $282.8 million, up 4.4% year-over-year.

Moran Wealth Management LLC cut its stake in Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 12.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,623 shares of the asset manager's stock after selling 6,688 shares during the period. Moran Wealth Management LLC owned about 0.06% of Artisan Partners Asset Management worth $2,155,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of APAM. Farther Finance Advisors LLC boosted its stake in Artisan Partners Asset Management by 24.1% in the second quarter. Farther Finance Advisors LLC now owns 1,282 shares of the asset manager's stock worth $57,000 after purchasing an additional 249 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of Artisan Partners Asset Management by 1.2% in the second quarter. Maryland State Retirement & Pension System now owns 20,698 shares of the asset manager's stock valued at $918,000 after buying an additional 251 shares during the last quarter. Salvus Wealth Management LLC lifted its position in Artisan Partners Asset Management by 5.0% during the 2nd quarter. Salvus Wealth Management LLC now owns 5,554 shares of the asset manager's stock worth $246,000 after buying an additional 263 shares in the last quarter. Yousif Capital Management LLC grew its holdings in Artisan Partners Asset Management by 1.0% during the 2nd quarter. Yousif Capital Management LLC now owns 26,077 shares of the asset manager's stock worth $1,156,000 after acquiring an additional 265 shares during the last quarter. Finally, Vident Advisory LLC increased its position in Artisan Partners Asset Management by 1.8% in the 1st quarter. Vident Advisory LLC now owns 15,577 shares of the asset manager's stock valued at $609,000 after acquiring an additional 278 shares in the last quarter. Institutional investors own 86.45% of the company's stock.

Artisan Partners Asset Management Stock Performance

APAM stock opened at $44.18 on Thursday. Artisan Partners Asset Management Inc. has a twelve month low of $32.75 and a twelve month high of $49.54. 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 company has a market cap of $3.57 billion, a P/E ratio of 11.75 and a beta of 1.72. The business's fifty day moving average is $45.41 and its 200-day moving average is $42.94.

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

Artisan Partners Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from Artisan Partners Asset Management's previous quarterly dividend of $0.68. Artisan Partners Asset Management's payout ratio is 77.66%.

Analyst Ratings Changes

Several research firms have recently commented on APAM. Evercore ISI decreased their price target on shares of Artisan Partners Asset Management from $45.00 to $43.00 and set an "in-line" rating on the stock in a research note on Thursday, October 9th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Artisan Partners Asset Management in a research report on Tuesday. Zacks Research cut Artisan Partners Asset Management from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. TD Cowen cut their price target on Artisan Partners Asset Management from $47.00 to $43.00 and set a "hold" rating on the stock in a research note on Monday, September 15th. Finally, Royal Bank Of Canada raised their price target on Artisan Partners Asset Management from $50.00 to $51.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $44.00.

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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