Voya Investment Management LLC Purchases 16,971 Shares of Artisan Partners Asset Management Inc. $APAM

Key Points

• Voya Investment Management LLC increased its stake in Artisan Partners Asset Management by 35.9%, holding 64,198 shares valued at approximately $2.51 million.
• Artisan Partners recently declared a quarterly dividend of $0.73 per share, up from $0.68, representing a 6.4% yield.
• Institutional investors own 86.45% of Artisan Partners’ stock, with various hedge funds significantly increasing their positions in the first quarter of the year.

Voya Investment Management LLC increased its holdings in shares of Artisan Partners Asset Management Inc. (NYSE:APAM - Free Report) by 35.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 64,198 shares of the asset manager's stock after purchasing an additional 16,971 shares during the period. Voya Investment Management LLC owned 0.08% of Artisan Partners Asset Management worth $2,510,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of APAM. Charles Schwab Investment Management Inc. raised its holdings 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 purchasing an additional 167,930 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised 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 acquiring an additional 381,210 shares during the period. Victory Capital Management Inc. increased its stake 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 buying an additional 39,578 shares during the period. Royce & Associates LP increased its position in shares of Artisan Partners Asset Management by 3.0% in the 1st quarter. Royce & Associates LP now owns 1,066,936 shares of the asset manager's stock valued at $41,717,000 after purchasing an additional 31,211 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Artisan Partners Asset Management by 36.0% in the 1st quarter. Invesco Ltd. now owns 621,491 shares of the asset manager's stock valued at $24,300,000 after buying an additional 164,612 shares in the last quarter. Hedge funds and other institutional investors own 86.45% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. TD Cowen decreased their price target 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. Zacks Research downgraded shares of Artisan Partners Asset Management from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Royal Bank Of Canada raised their target price on shares of Artisan Partners Asset Management from $50.00 to $51.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, Evercore ISI lifted their price target on shares of Artisan Partners Asset Management from $43.00 to $45.00 and gave the company an "in-line" rating in a research report on Friday, September 5th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $43.50.

Artisan Partners Asset Management Price Performance

Artisan Partners Asset Management stock traded down $0.36 during mid-day trading on Tuesday, hitting $45.10. 99,343 shares of the company were exchanged, compared to its average volume of 558,561. 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 business has a fifty day moving average of $46.24 and a 200 day moving average of $42.58. Artisan Partners Asset Management Inc. has a 1-year low of $32.75 and a 1-year high of $49.54. The company has a market capitalization of $3.64 billion, a PE ratio of 11.97 and a beta of 1.71.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.01. The firm had revenue of $282.80 million during the quarter, compared to analyst estimates of $269.00 million. Artisan Partners Asset Management had a return on equity of 71.72% and a net margin of 23.87%.The business's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.82 earnings per share. As a group, sell-side analysts expect that Artisan Partners Asset Management Inc. will post 3.6 earnings per share for the current 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 given a $0.73 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.92 dividend on an annualized basis and a yield of 6.5%. This is a boost from Artisan Partners Asset Management's previous quarterly dividend of $0.68. Artisan Partners Asset Management's payout ratio is 77.66%.

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.