Wasatch Advisors LP Purchases 365,434 Shares of Artisan Partners Asset Management Inc. (NYSE:APAM)

Wasatch Advisors LP grew its position in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 25.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,812,080 shares of the asset manager’s stock after acquiring an additional 365,434 shares during the period. Wasatch Advisors LP owned about 2.25% of Artisan Partners Asset Management worth $78,499,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Matrix Trust Co bought a new position in shares of Artisan Partners Asset Management during the third quarter valued at about $30,000. GAMMA Investing LLC raised its stake in shares of Artisan Partners Asset Management by 81.5% during the second quarter. GAMMA Investing LLC now owns 775 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 348 shares during the last quarter. Hexagon Capital Partners LLC raised its stake in shares of Artisan Partners Asset Management by 41.8% during the third quarter. Hexagon Capital Partners LLC now owns 1,004 shares of the asset manager’s stock valued at $43,000 after acquiring an additional 296 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Artisan Partners Asset Management by 735.9% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,212 shares of the asset manager’s stock valued at $52,000 after acquiring an additional 1,067 shares during the last quarter. Finally, Quarry LP bought a new position in shares of Artisan Partners Asset Management during the second quarter valued at about $63,000. 86.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. TD Cowen upped their price objective on shares of Artisan Partners Asset Management from $41.00 to $43.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. StockNews.com upgraded shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group reduced their price target on shares of Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. Finally, Evercore ISI boosted their price target on shares of Artisan Partners Asset Management from $40.00 to $44.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $44.13.

Artisan Partners Asset Management Price Performance

Shares of NYSE APAM opened at $48.79 on Friday. Artisan Partners Asset Management Inc. has a 1 year low of $37.16 and a 1 year high of $49.52. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.73 and a quick ratio of 0.73. The company’s 50-day moving average is $45.24 and its 200 day moving average is $42.95. The stock has a market capitalization of $3.92 billion, a P/E ratio of 13.59 and a beta of 1.79.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings data on Tuesday, October 29th. The asset manager reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $279.60 million for the quarter, compared to analysts’ expectations of $279.70 million. Artisan Partners Asset Management had a net margin of 23.95% and a return on equity of 71.50%. The business’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.75 earnings per share. On average, sell-side analysts expect that Artisan Partners Asset Management Inc. will post 3.49 earnings per share for the current year.

Artisan Partners Asset Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 6.72%. The ex-dividend date of this dividend was Friday, November 15th. Artisan Partners Asset Management’s dividend payout ratio (DPR) is presently 91.36%.

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.