QRG Capital Management Inc. Increases Stake in Artisan Partners Asset Management Inc. (NYSE:APAM)

QRG Capital Management Inc. boosted its stake in Artisan Partners Asset Management Inc. (NYSE:APAM) by 6.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,771 shares of the asset manager’s stock after buying an additional 2,532 shares during the period. QRG Capital Management Inc. owned 0.06% of Artisan Partners Asset Management worth $1,939,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of APAM. Matrix Trust Co purchased a new position in shares of Artisan Partners Asset Management in the 3rd quarter valued at approximately $30,000. GAMMA Investing LLC raised its holdings in Artisan Partners Asset Management by 81.5% in the second quarter. GAMMA Investing LLC now owns 775 shares of the asset manager’s stock worth $32,000 after purchasing an additional 348 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in 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 buying an additional 296 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Artisan Partners Asset Management by 735.9% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,212 shares of the asset manager’s stock valued at $52,000 after buying an additional 1,067 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Artisan Partners Asset Management in the 2nd quarter worth about $63,000. 86.45% of the stock is owned by institutional investors.

Artisan Partners Asset Management Trading Down 1.7 %

Shares of NYSE:APAM opened at $48.17 on Friday. Artisan Partners Asset Management Inc. has a 1 year low of $34.94 and a 1 year high of $49.30. The stock’s fifty day moving average price is $43.08 and its 200-day moving average price is $42.39. The company has a market cap of $3.87 billion, a P/E ratio of 13.42 and a beta of 1.79. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.73 and a quick ratio of 0.71.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings results on Tuesday, October 29th. The asset manager reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Artisan Partners Asset Management had a net margin of 23.95% and a return on equity of 71.50%. The firm had revenue of $279.60 million for the quarter, compared to the consensus estimate of $279.70 million. During the same quarter last year, the firm posted $0.75 EPS. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. 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 business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 6.81%. The ex-dividend date of this dividend is Friday, November 15th. Artisan Partners Asset Management’s dividend payout ratio (DPR) is presently 79.11%.

Analyst Ratings Changes

A number of equities research analysts have weighed in 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 stock a “hold” rating in a report on Thursday, October 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $50.00 price objective on shares of Artisan Partners Asset Management in a research note on Monday, July 29th. StockNews.com raised Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research note on Tuesday. Evercore ISI lifted their price target on Artisan Partners Asset Management from $40.00 to $44.00 and gave the stock an “in-line” rating in a research report on Thursday. Finally, The Goldman Sachs Group cut their price objective 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $44.13.

About Artisan Partners Asset Management

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.