Principal Financial Group Inc. Has $14.32 Million Holdings in Artisan Partners Asset Management Inc. (NYSE:APAM)

Principal Financial Group Inc. trimmed its position in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 4.6% during the third quarter, Holdings Channel.com reports. The firm owned 330,534 shares of the asset manager’s stock after selling 15,957 shares during the period. Principal Financial Group Inc.’s holdings in Artisan Partners Asset Management were worth $14,319,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of APAM. Matrix Trust Co bought a new stake in Artisan Partners Asset Management during the 3rd quarter worth approximately $30,000. Hexagon Capital Partners LLC grew its holdings 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 worth $43,000 after buying an additional 296 shares in the last quarter. GAMMA Investing LLC raised its position in Artisan Partners Asset Management by 45.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,128 shares of the asset manager’s stock valued at $49,000 after buying an additional 353 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in 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 valued at $52,000 after acquiring an additional 1,067 shares in the last quarter. Finally, Quarry LP purchased a new position in Artisan Partners Asset Management during the 2nd quarter worth $63,000. Institutional investors and hedge funds own 86.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. StockNews.com upgraded shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. The Goldman Sachs Group dropped their target price on shares of 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. Evercore ISI increased their price target on 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, 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 research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $44.13.

Artisan Partners Asset Management Stock Down 1.5 %

Artisan Partners Asset Management stock opened at $43.97 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. The company has a market capitalization of $3.53 billion, a P/E ratio of 12.25 and a beta of 1.79. The firm has a 50 day moving average price of $46.40 and a 200-day moving average price of $43.22. Artisan Partners Asset Management Inc. has a twelve month low of $37.89 and a twelve month high of $49.54.

Artisan Partners Asset Management (NYSE:APAM) last released its 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. Artisan Partners Asset Management had a return on equity of 71.50% and a net margin of 23.95%. The business had revenue of $279.60 million during the quarter, compared to the consensus estimate of $279.70 million. During the same period last year, the business posted $0.75 earnings per share. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, equities analysts predict 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 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 annualized dividend and a yield of 7.46%. The ex-dividend date was Friday, November 15th. Artisan Partners Asset Management’s dividend payout ratio (DPR) is presently 91.36%.

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.