Jennison Associates LLC Takes $1.15 Million Position in Artisan Partners Asset Management Inc. (NYSE:APAM)

Jennison Associates LLC purchased a new position in Artisan Partners Asset Management Inc. (NYSE:APAM) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 26,593 shares of the asset manager’s stock, valued at approximately $1,152,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in APAM. Matrix Trust Co bought a new stake in shares of Artisan Partners Asset Management in the third quarter valued at about $30,000. GAMMA Investing LLC raised its holdings in shares of Artisan Partners Asset Management by 81.5% in the 2nd quarter. GAMMA Investing LLC now owns 775 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 348 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in shares of Artisan Partners Asset Management by 41.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,004 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 296 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Artisan Partners Asset Management by 735.9% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,212 shares of the asset manager’s stock worth $52,000 after purchasing an additional 1,067 shares during the period. Finally, Quarry LP bought a new position in shares of Artisan Partners Asset Management during the second quarter valued at approximately $63,000. Institutional investors own 86.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on APAM shares. TD Cowen boosted 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 research note on Thursday, October 31st. StockNews.com upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group cut their target price on Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. Evercore ISI increased 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $50.00 price objective on shares of Artisan Partners Asset Management in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $44.13.

Artisan Partners Asset Management Trading Up 0.5 %

Shares of NYSE:APAM opened at $47.70 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market capitalization of $3.83 billion, a P/E ratio of 13.29 and a beta of 1.79. The business’s 50-day moving average is $44.63 and its 200 day moving average is $42.80. Artisan Partners Asset Management Inc. has a 1 year low of $36.45 and a 1 year high of $49.52.

Artisan Partners Asset Management (NYSE:APAM) last posted its quarterly earnings data on Tuesday, October 29th. The asset manager reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $279.60 million for the quarter, compared to the consensus estimate of $279.70 million. Artisan Partners Asset Management had a net margin of 23.95% and a return on equity of 71.50%. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.75 earnings per share. On average, research analysts predict 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 disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 6.88%. The ex-dividend date is Friday, November 15th. Artisan Partners Asset Management’s dividend payout ratio (DPR) is presently 91.37%.

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.