HighTower Advisors LLC Sells 743 Shares of Artisan Partners Asset Management Inc. (NYSE:APAM)

HighTower Advisors LLC trimmed its stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 6.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,546 shares of the asset manager’s stock after selling 743 shares during the quarter. HighTower Advisors LLC’s holdings in Artisan Partners Asset Management were worth $455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in APAM. Matrix Trust Co acquired a new stake in Artisan Partners Asset Management during the 3rd quarter worth about $30,000. Hexagon Capital Partners LLC boosted its position in shares of 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 valued at $43,000 after purchasing an additional 296 shares in the last quarter. GAMMA Investing LLC grew 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 worth $49,000 after purchasing an additional 353 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in Artisan Partners Asset Management by 735.9% in the third 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 in the last quarter. Finally, Quarry LP bought a new stake in Artisan Partners Asset Management in the second quarter worth approximately $63,000. 86.45% of the stock is owned by institutional investors and hedge funds.

Artisan Partners Asset Management Price Performance

Shares of APAM opened at $43.74 on Friday. The stock has a market cap of $3.51 billion, a P/E ratio of 12.18 and a beta of 1.79. The business’s fifty day moving average is $46.53 and its 200 day moving average is $43.19. 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 12-month low of $37.89 and a 12-month high of $49.54.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings data on Tuesday, October 29th. The asset manager reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Artisan Partners Asset Management had a net margin of 23.95% and a return on equity of 71.50%. The firm had revenue of $279.60 million during the quarter, compared to analysts’ expectations of $279.70 million. During the same period last year, the company earned $0.75 earnings per share. The business’s revenue was up 12.4% on a year-over-year basis. Sell-side 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 disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 7.50%. The ex-dividend date was Friday, November 15th. Artisan Partners Asset Management’s dividend payout ratio is currently 91.36%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. The Goldman Sachs Group cut their price target 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. TD Cowen increased 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 note 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. Finally, Evercore ISI increased their price objective on shares of Artisan Partners Asset Management from $40.00 to $44.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Artisan Partners Asset Management has an average rating of “Hold” and a consensus price target of $44.13.

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.