Sanctuary Advisors LLC Takes $465,000 Position in Artisan Partners Asset Management Inc. (NYSE:APAM)

Sanctuary Advisors LLC acquired a new stake in Artisan Partners Asset Management Inc. (NYSE:APAM) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,077 shares of the asset manager’s stock, valued at approximately $465,000.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Artisan Partners Asset Management by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 7,873,612 shares of the asset manager’s stock worth $347,856,000 after acquiring an additional 75,304 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Artisan Partners Asset Management by 2.5% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,626,937 shares of the asset manager’s stock worth $273,494,000 after acquiring an additional 160,297 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Artisan Partners Asset Management by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,617,617 shares of the asset manager’s stock worth $66,757,000 after acquiring an additional 74,393 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Artisan Partners Asset Management by 7.7% in 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 during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Artisan Partners Asset Management by 1.7% in the second quarter. Victory Capital Management Inc. now owns 920,012 shares of the asset manager’s stock worth $37,969,000 after acquiring an additional 15,446 shares during the last quarter. 86.45% of the stock is owned by institutional investors and hedge funds.

Artisan Partners Asset Management Price Performance

NYSE:APAM opened at $45.51 on Thursday. Artisan Partners Asset Management Inc. has a 52 week low of $32.12 and a 52 week high of $46.75. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $3.66 billion, a P/E ratio of 13.88 and a beta of 1.79. The stock’s fifty day moving average is $41.63 and its two-hundred day moving average is $42.27.

Artisan Partners Asset Management (NYSE:APAM) last posted its earnings results on Tuesday, July 23rd. The asset manager reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). Artisan Partners Asset Management had a net margin of 22.75% and a return on equity of 71.76%. The business had revenue of $270.80 million during the quarter, compared to analysts’ expectations of $274.70 million. During the same quarter in the prior year, the firm earned $0.71 EPS. Artisan Partners Asset Management’s revenue for the quarter was up 11.5% compared to the same quarter last year. Equities analysts expect that Artisan Partners Asset Management Inc. will post 3.36 EPS for the current year.

Artisan Partners Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 6.24%. The ex-dividend date of this dividend was Friday, August 16th. This is an increase from Artisan Partners Asset Management’s previous quarterly dividend of $0.61. Artisan Partners Asset Management’s payout ratio is currently 86.59%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on APAM shares. StockNews.com lowered Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. TD Cowen boosted their price objective on Artisan Partners Asset Management from $38.00 to $39.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Royal Bank of Canada reissued an “outperform” rating and set a $50.00 price objective on shares of Artisan Partners Asset Management in a research note on Monday, July 29th. 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 note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Artisan Partners Asset Management presently has an average rating of “Hold” and an average price target of $42.83.

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.