Russell Investments Group Ltd. Has $123,000 Stock Position in Artisan Partners Asset Management Inc. $APAM

Key Points

• Russell Investments Group Ltd. cut its position in Artisan Partners Asset Management by 89.4%, leaving it with 3,144 shares valued at $123,000.
• Artisan Partners Asset Management announced a quarterly dividend increase from $0.68 to $0.73, reflecting a yield of 6.4% based on an annualized basis.
• Several analysts have rated Artisan Partners with mixed reviews, while the company has an average target price of $39.30 and a current stock price of $45.94.

Russell Investments Group Ltd. lowered its stake in Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 89.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,144 shares of the asset manager's stock after selling 26,656 shares during the period. Russell Investments Group Ltd.'s holdings in Artisan Partners Asset Management were worth $123,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in shares of Artisan Partners Asset Management by 6.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,940,562 shares of the asset manager's stock worth $114,976,000 after acquiring an additional 167,930 shares during the period. Vaughan Nelson Investment Management L.P. lifted 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. Victory Capital Management Inc. increased its holdings in Artisan Partners Asset Management by 3.3% during the 1st quarter. Victory Capital Management Inc. now owns 1,228,743 shares of the asset manager's stock worth $48,044,000 after purchasing an additional 39,578 shares during the last quarter. Royce & Associates LP lifted its holdings in Artisan Partners Asset Management by 3.0% in the first quarter. Royce & Associates LP now owns 1,066,936 shares of the asset manager's stock worth $41,717,000 after acquiring an additional 31,211 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Artisan Partners Asset Management by 2.3% in the fourth quarter. Northern Trust Corp now owns 903,986 shares of the asset manager's stock worth $38,917,000 after purchasing an additional 20,456 shares during the period. Hedge funds and other institutional investors own 86.45% of the company's stock.

Artisan Partners Asset Management Trading Up 0.4%

NYSE APAM traded up $0.21 on Monday, reaching $46.51. The company had a trading volume of 156,729 shares, compared to its average volume of 564,321. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 12.37 and a beta of 1.71. The business has a 50 day moving average of $46.36 and a two-hundred day moving average of $42.28. Artisan Partners Asset Management Inc. has a fifty-two week low of $32.75 and a fifty-two week high of $49.54.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last issued 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. The company had revenue of $282.80 million during the quarter, compared to analyst estimates of $269.00 million. Artisan Partners Asset Management had a net margin of 23.87% and a return on equity of 71.72%. Artisan Partners Asset Management's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 EPS. Analysts forecast 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 announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $0.73 dividend. The ex-dividend date of this dividend 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 6.3%. Artisan Partners Asset Management's dividend payout ratio is currently 77.66%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Evercore ISI upped their price target on Artisan Partners Asset Management from $43.00 to $45.00 and gave the stock an "in-line" rating in a research note on Friday. Wall Street Zen raised Artisan Partners Asset Management from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Cowen restated a "hold" rating on shares of Artisan Partners Asset Management in a research report on Wednesday, May 14th. Finally, Royal Bank Of Canada lifted their price target on Artisan Partners Asset Management from $50.00 to $51.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $41.90.

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.