Artisan Partners Asset Management Inc. (NYSE:APAM) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its holdings in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 7.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 47,318 shares of the asset manager’s stock after acquiring an additional 3,136 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.06% of Artisan Partners Asset Management worth $2,050,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Matrix Trust Co acquired a new position in Artisan Partners Asset Management in the third quarter valued at $30,000. GAMMA Investing LLC increased its position in Artisan Partners Asset Management by 81.5% during the second quarter. GAMMA Investing LLC now owns 775 shares of the asset manager’s stock worth $32,000 after buying an additional 348 shares during the period. Hexagon Capital Partners LLC boosted its holdings in shares of Artisan Partners Asset Management by 41.8% in the third quarter. Hexagon Capital Partners LLC now owns 1,004 shares of the asset manager’s stock valued at $43,000 after acquiring an additional 296 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in Artisan Partners Asset Management by 735.9% in 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 purchasing an additional 1,067 shares during the last quarter. Finally, Quarry LP acquired a new stake in Artisan Partners Asset Management during the 2nd quarter worth $63,000. Hedge funds and other institutional investors own 86.45% of the company’s stock.

Analyst Ratings Changes

APAM has been the subject of several recent research reports. StockNews.com upgraded shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Evercore ISI lifted their target price on Artisan Partners Asset Management from $40.00 to $44.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Royal Bank of Canada restated an “outperform” rating and set a $50.00 price target on shares of Artisan Partners Asset Management in a research note on Monday, July 29th. TD Cowen lifted their price objective 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, October 31st. Finally, The Goldman Sachs Group cut their price objective on shares of Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating for the company in a research report on Thursday, October 3rd. One 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. Based on data from MarketBeat, Artisan Partners Asset Management currently has an average rating of “Hold” and an average price target of $44.13.

Artisan Partners Asset Management Price Performance

Artisan Partners Asset Management stock opened at $46.66 on Friday. The company has a market cap of $3.75 billion, a P/E ratio of 13.00 and a beta of 1.79. Artisan Partners Asset Management Inc. has a one year low of $36.45 and a one year high of $49.52. The business has a fifty day moving average of $43.93 and a two-hundred day moving average of $42.62. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.73 and a current ratio of 0.73.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings data on Tuesday, October 29th. The asset manager reported $0.92 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $279.70 million. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The firm’s revenue was up 12.4% on a year-over-year basis. As a group, analysts predict 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 will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $3.28 dividend on an annualized basis and a yield of 7.03%. Artisan Partners Asset Management’s payout ratio is 79.11%.

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.