Artisan Partners Asset Management Inc. (NYSE:APAM) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in Artisan Partners Asset Management Inc. (NYSE:APAM) by 4.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,775,314 shares of the asset manager’s stock after acquiring an additional 82,868 shares during the period. Geode Capital Management LLC owned approximately 2.21% of Artisan Partners Asset Management worth $76,920,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Matrix Trust Co acquired a new stake in Artisan Partners Asset Management in the 3rd quarter valued at about $30,000. Hexagon Capital Partners LLC lifted its stake 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 purchasing an additional 296 shares during the last quarter. GAMMA Investing LLC lifted its stake in Artisan Partners Asset Management by 45.5% during the third quarter. GAMMA Investing LLC now owns 1,128 shares of the asset manager’s stock valued at $49,000 after purchasing an additional 353 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake 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 worth $52,000 after acquiring an additional 1,067 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Artisan Partners Asset Management in the 2nd quarter valued at $63,000. Institutional investors and hedge funds own 86.45% of the company’s stock.

Wall Street Analyst Weigh In

APAM has been the topic of several recent analyst reports. TD Cowen boosted their price objective on Artisan Partners Asset Management from $41.00 to $43.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. StockNews.com raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Evercore ISI increased their price objective on Artisan Partners Asset Management from $40.00 to $44.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Finally, 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. One 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.com, the company presently has a consensus rating of “Hold” and an average target price of $44.13.

Artisan Partners Asset Management Stock Performance

Shares of NYSE APAM opened at $43.74 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. Artisan Partners Asset Management Inc. has a one year low of $37.89 and a one year high of $49.54. The business’s 50-day moving average price is $46.53 and its two-hundred day moving average price is $43.19. The company has a market capitalization of $3.51 billion, a P/E ratio of 12.18 and a beta of 1.79.

Artisan Partners Asset Management (NYSE:APAM) last announced its quarterly earnings results on Tuesday, October 29th. The asset manager reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. The business had revenue of $279.60 million during the quarter, compared to analysts’ expectations of $279.70 million. Artisan Partners Asset Management had a return on equity of 71.50% and a net margin of 23.95%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 EPS. 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 7.50%. The ex-dividend date of this dividend was Friday, November 15th. Artisan Partners Asset Management’s payout ratio is presently 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.