Creative Planning Cuts Holdings in Artisan Partners Asset Management Inc. (NYSE:APAM)

Creative Planning decreased its stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 5.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 7,682 shares of the asset manager’s stock after selling 461 shares during the period. Creative Planning’s holdings in Artisan Partners Asset Management were worth $333,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of APAM. Matrix Trust Co purchased a new stake in Artisan Partners Asset Management during the 3rd quarter worth about $30,000. GAMMA Investing LLC increased its holdings in Artisan Partners Asset Management by 81.5% during the 2nd quarter. GAMMA Investing LLC now owns 775 shares of the asset manager’s stock worth $32,000 after purchasing an additional 348 shares during the period. Hexagon Capital Partners LLC increased its holdings in Artisan Partners Asset Management by 41.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,004 shares of the asset manager’s stock worth $43,000 after purchasing an additional 296 shares during the period. Quarry LP purchased a new stake in Artisan Partners Asset Management during the 2nd quarter worth about $63,000. Finally, Blue Trust Inc. purchased a new stake in Artisan Partners Asset Management during the 2nd quarter worth about $72,000. Hedge funds and other institutional investors own 86.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on APAM shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $50.00 price objective on shares of Artisan Partners Asset Management in a report on Monday, July 29th. Evercore ISI increased their price objective on Artisan Partners Asset Management from $40.00 to $44.00 and gave the company an “in-line” rating in a report on Thursday. TD Cowen increased their price objective on Artisan Partners Asset Management from $41.00 to $43.00 and gave the company a “hold” rating in a report on Thursday, October 31st. The Goldman Sachs Group dropped their price objective on Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating on the stock in a report on Thursday, October 3rd. Finally, StockNews.com upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $44.13.

Artisan Partners Asset Management Stock Down 0.4 %

APAM opened at $47.96 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.73 and a quick ratio of 0.71. The business has a 50 day simple moving average of $43.21 and a 200-day simple moving average of $42.43. The stock has a market capitalization of $3.85 billion, a P/E ratio of 13.36 and a beta of 1.79. Artisan Partners Asset Management Inc. has a 12 month low of $35.44 and a 12 month high of $49.30.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings data on Tuesday, October 29th. The asset manager reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. Artisan Partners Asset Management had a return on equity of 71.50% and a net margin of 23.95%. The firm had revenue of $279.60 million during the quarter, compared to the consensus estimate of $279.70 million. During the same period last year, the business posted $0.75 EPS. Artisan Partners Asset Management’s quarterly revenue was up 12.4% on a year-over-year basis. On average, equities analysts anticipate that Artisan Partners Asset Management Inc. will post 3.49 earnings per share for the current fiscal year.

Artisan Partners Asset Management Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 6.84%. The ex-dividend date is Friday, November 15th. Artisan Partners Asset Management’s payout ratio is 91.36%.

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.