PNC Financial Services Group Inc. Cuts Position in Artisan Partners Asset Management Inc. (NYSE:APAM)

PNC Financial Services Group Inc. lowered its stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 14.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,298 shares of the asset manager’s stock after selling 720 shares during the period. PNC Financial Services Group Inc.’s holdings in Artisan Partners Asset Management were worth $190,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Artisan Partners Asset Management by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 7,873,612 shares of the asset manager’s stock worth $347,856,000 after acquiring an additional 75,304 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Artisan Partners Asset Management by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,934,002 shares of the asset manager’s stock worth $85,444,000 after purchasing an additional 12,977 shares in the last quarter. Wasatch Advisors LP grew its holdings in Artisan Partners Asset Management by 25.2% in the fourth quarter. Wasatch Advisors LP now owns 1,581,267 shares of the asset manager’s stock valued at $69,860,000 after purchasing an additional 318,355 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Artisan Partners Asset Management by 29.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 934,546 shares of the asset manager’s stock valued at $41,288,000 after buying an additional 211,965 shares in the last quarter. Finally, Heartland Advisors Inc. raised its stake in shares of Artisan Partners Asset Management by 28.1% during the 4th quarter. Heartland Advisors Inc. now owns 367,093 shares of the asset manager’s stock worth $17,608,000 after buying an additional 80,549 shares during the last quarter. 86.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research note on Sunday, March 17th.

Artisan Partners Asset Management Stock Performance

Artisan Partners Asset Management stock opened at $40.20 on Wednesday. Artisan Partners Asset Management Inc. has a fifty-two week low of $32.12 and a fifty-two week high of $46.75. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 12.26 and a beta of 1.81. The stock has a fifty day moving average of $42.72 and a two-hundred day moving average of $43.15. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.64 and a current ratio of 0.64.

Artisan Partners Asset Management (NYSE:APAM) last posted its quarterly earnings data on Wednesday, April 24th. The asset manager reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.03). The company had revenue of $264.40 million for the quarter, compared to analysts’ expectations of $270.90 million. Artisan Partners Asset Management had a return on equity of 72.77% and a net margin of 22.99%. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 EPS. On average, analysts anticipate that Artisan Partners Asset Management Inc. will post 3.41 EPS for the current fiscal year.

Artisan Partners Asset Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 6.07%. The ex-dividend date was Thursday, May 16th. Artisan Partners Asset Management’s payout ratio is 74.39%.

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.