Mirae Asset Global Investments Co. Ltd. Increases Stock Position in Artisan Partners Asset Management Inc. (NYSE:APAM)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Artisan Partners Asset Management Inc. (NYSE:APAM) by 14.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,626 shares of the asset manager’s stock after acquiring an additional 5,286 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Artisan Partners Asset Management were worth $1,840,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Matrix Trust Co bought a new stake in shares of Artisan Partners Asset Management in the third quarter worth approximately $30,000. GAMMA Investing LLC boosted its holdings in Artisan Partners Asset Management by 81.5% in the second quarter. GAMMA Investing LLC now owns 775 shares of the asset manager’s stock worth $32,000 after purchasing an additional 348 shares during the last quarter. Hexagon Capital Partners LLC grew its position in Artisan Partners Asset Management by 41.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,004 shares of the asset manager’s stock worth $43,000 after purchasing an additional 296 shares during the period. Whittier Trust Co. of Nevada Inc. raised 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 buying an additional 1,067 shares during the last quarter. Finally, Quarry LP bought a new position in shares of Artisan Partners Asset Management during the 2nd quarter valued at $63,000. 86.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on APAM. Royal Bank of Canada reiterated an “outperform” rating and set a $50.00 price objective on shares of Artisan Partners Asset Management in a research report on Monday, July 29th. TD Cowen upped their price target on shares of Artisan Partners Asset Management from $41.00 to $43.00 and gave the company a “hold” rating in a research report on Thursday. The Goldman Sachs Group lowered their price objective on shares of 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. Finally, StockNews.com upgraded shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $44.17.

Artisan Partners Asset Management Stock Performance

Shares of APAM opened at $44.11 on Friday. The business has a 50-day simple moving average of $42.56 and a two-hundred day simple moving average of $42.24. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.54. Artisan Partners Asset Management Inc. has a 52 week low of $32.32 and a 52 week high of $47.08. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 12.29 and a beta of 1.79.

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 the consensus estimate of $0.90 by $0.02. Artisan Partners Asset Management had a net margin of 22.75% and a return on equity of 71.76%. The company had revenue of $279.60 million during the quarter, compared to analyst estimates of $279.70 million. During the same period in the prior year, the firm posted $0.75 EPS. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, analysts expect that Artisan Partners Asset Management Inc. will post 3.36 EPS for the current year.

Artisan Partners Asset Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $3.28 annualized dividend and a dividend yield of 7.44%. Artisan Partners Asset Management’s payout ratio is 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.