Stifel Financial Corp Sells 827 Shares of Artisan Partners Asset Management Inc. (NYSE:APAM)

Stifel Financial Corp trimmed its holdings in Artisan Partners Asset Management Inc. (NYSE:APAM) by 0.7% in the 3rd quarter, Holdings Channel reports. The fund owned 119,704 shares of the asset manager’s stock after selling 827 shares during the quarter. Stifel Financial Corp’s holdings in Artisan Partners Asset Management were worth $5,186,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of APAM. Wasatch Advisors LP grew its holdings in Artisan Partners Asset Management by 25.3% in the third quarter. Wasatch Advisors LP now owns 1,812,080 shares of the asset manager’s stock worth $78,499,000 after purchasing an additional 365,434 shares during the period. Millennium Management LLC purchased a new stake in shares of Artisan Partners Asset Management in the 2nd quarter worth approximately $10,685,000. Victory Capital Management Inc. grew its stake in shares of 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 worth $48,609,000 after buying an additional 202,074 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in Artisan Partners Asset Management by 2.5% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,626,937 shares of the asset manager’s stock valued at $273,494,000 after buying an additional 160,297 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Artisan Partners Asset Management by 6.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,643,915 shares of the asset manager’s stock worth $114,534,000 after acquiring an additional 154,536 shares in the last quarter. 86.45% of the stock is owned by hedge funds and other institutional investors.

Artisan Partners Asset Management Stock Down 1.6 %

Shares of Artisan Partners Asset Management stock opened at $46.96 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.49. Artisan Partners Asset Management Inc. has a twelve month low of $37.89 and a twelve month high of $49.54. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 13.08 and a beta of 1.79. The company’s 50 day moving average is $46.33 and its 200 day moving average is $43.15.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings results on Tuesday, October 29th. The asset manager reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 71.50% and a net margin of 23.95%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period last year, the business posted $0.75 EPS. Research analysts anticipate that Artisan Partners Asset Management Inc. will post 3.49 EPS for the current year.

Artisan Partners Asset Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.82 per share. The ex-dividend date was Friday, November 15th. This represents a $3.28 annualized dividend and a yield of 6.98%. Artisan Partners Asset Management’s dividend payout ratio (DPR) is 91.37%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. TD Cowen raised their price target 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. Evercore ISI lifted their target price on shares of Artisan Partners Asset Management from $40.00 to $44.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. StockNews.com upgraded shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group lowered their price objective on 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 equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.13.

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.