Nuveen LLC Makes New $17.67 Million Investment in Artisan Partners Asset Management Inc. $APAM

Key Points

• Nuveen LLC has made a new investment of approximately $17.67 million in Artisan Partners Asset Management, acquiring 451,942 shares in the first quarter.
• Artisan Partners recently declared a quarterly dividend of $0.73, an increase from the previous $0.68, representing a 6.4% annual yield.
• Institutional investors currently own 86.45% of Artisan Partners' stock, indicating significant interest from large financial entities.

Nuveen LLC bought a new position in Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 451,942 shares of the asset manager's stock, valued at approximately $17,671,000. Nuveen LLC owned approximately 0.56% of Artisan Partners Asset Management at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of APAM. Envestnet Asset Management Inc. increased its holdings in Artisan Partners Asset Management by 19.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 113,451 shares of the asset manager's stock valued at $4,884,000 after purchasing an additional 18,284 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in Artisan Partners Asset Management by 3.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 31,659 shares of the asset manager's stock valued at $1,363,000 after purchasing an additional 948 shares in the last quarter. Townsquare Capital LLC acquired a new stake in Artisan Partners Asset Management during the 4th quarter valued at $293,000. Mariner LLC increased its holdings in Artisan Partners Asset Management by 21.0% during the 4th quarter. Mariner LLC now owns 18,771 shares of the asset manager's stock valued at $808,000 after purchasing an additional 3,253 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in Artisan Partners Asset Management by 23.3% during the 4th quarter. First Trust Advisors LP now owns 213,999 shares of the asset manager's stock valued at $9,213,000 after purchasing an additional 40,479 shares in the last quarter. 86.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Charles J. Daley, Jr. sold 15,448 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $40.45, for a total value of $624,871.60. Following the transaction, the chief financial officer directly owned 91,363 shares in the company, valued at $3,695,633.35. This trade represents a 14.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.53% of the stock is owned by corporate insiders.

Artisan Partners Asset Management Trading Up 3.8%

APAM traded up $1.7180 during mid-day trading on Friday, reaching $46.6580. The stock had a trading volume of 433,664 shares, compared to its average volume of 546,862. The stock has a market capitalization of $3.77 billion, a P/E ratio of 12.41 and a beta of 1.69. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 0.97. The firm's fifty day simple moving average is $45.63 and its two-hundred day simple moving average is $42.12. 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 quarterly earnings results on Tuesday, July 29th. The asset manager reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $269.00 million. During the same period last year, the company earned $0.82 EPS. The firm's revenue was up 4.4% on a year-over-year basis. On average, equities analysts predict that Artisan Partners Asset Management Inc. will post 3.6 EPS for the current year.

Artisan Partners Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a $0.73 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.92 annualized dividend and a dividend yield of 6.3%. This is an increase from Artisan Partners Asset Management's previous quarterly dividend of $0.68. Artisan Partners Asset Management's dividend payout ratio is 77.66%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. TD Securities raised their price target on Artisan Partners Asset Management from $35.00 to $39.00 and gave the company a "hold" rating in a report on Thursday, May 1st. Cowen reiterated a "hold" rating on shares of Artisan Partners Asset Management in a research report on Wednesday, May 14th. Evercore ISI decreased 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. Royal Bank Of Canada increased their price objective on Artisan Partners Asset Management from $50.00 to $51.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, Wall Street Zen upgraded Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $39.30.

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.