Artisan Partners Asset Management Inc. (NYSE:APAM) Stock Position Lowered by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its position in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 8.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,514 shares of the asset manager’s stock after selling 977 shares during the period. Mutual of America Capital Management LLC’s holdings in Artisan Partners Asset Management were worth $455,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Millennium Management LLC acquired a new position in shares of Artisan Partners Asset Management in the 2nd quarter valued at about $10,685,000. Victory Capital Management Inc. increased its stake in Artisan Partners Asset Management by 22.0% in the 3rd quarter. Victory Capital Management Inc. now owns 1,122,086 shares of the asset manager’s stock valued at $48,609,000 after buying an additional 202,074 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its position in Artisan Partners Asset Management by 2.5% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,626,937 shares of the asset manager’s stock worth $273,494,000 after buying an additional 160,297 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Artisan Partners Asset Management during the 2nd quarter valued at $4,531,000. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in shares of Artisan Partners Asset Management by 7.7% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,434,391 shares of the asset manager’s stock worth $59,197,000 after acquiring an additional 102,421 shares in the last quarter. 86.45% of the stock is owned by institutional investors and hedge funds.

Artisan Partners Asset Management Stock Up 0.5 %

Artisan Partners Asset Management stock opened at $48.62 on Thursday. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 13.47 and a beta of 1.79. The firm has a fifty day moving average price of $44.88 and a two-hundred day moving average price of $42.84. Artisan Partners Asset Management Inc. has a fifty-two week low of $36.89 and a fifty-two week 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.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings results on Tuesday, October 29th. The asset manager reported $0.92 EPS for the quarter, topping 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 company had revenue of $279.60 million for the quarter, compared to the consensus estimate of $279.70 million. During the same period in the previous year, the business posted $0.75 EPS. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, analysts forecast 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. Investors of record on Friday, November 15th will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 6.75%. The ex-dividend date is Friday, November 15th. Artisan Partners Asset Management’s payout ratio is currently 91.37%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. The Goldman Sachs Group lowered 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. TD Cowen boosted their target price on shares of Artisan Partners Asset Management from $41.00 to $43.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Evercore ISI raised 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 report on Thursday, November 7th. Finally, StockNews.com raised Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One equities 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 MarketBeat.com, Artisan Partners Asset Management currently has an average rating of “Hold” and a consensus target price of $44.13.

Artisan Partners Asset Management 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.