Range Financial Group LLC Acquires Shares of 9,865 Artisan Partners Asset Management Inc. (NYSE:APAM)

Range Financial Group LLC bought a new position in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 9,865 shares of the asset manager’s stock, valued at approximately $425,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of APAM. Matrix Trust Co bought a new stake in shares of Artisan Partners Asset Management during the 3rd quarter valued at $30,000. Hexagon Capital Partners LLC raised its stake in 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 purchasing an additional 296 shares in the last quarter. GAMMA Investing LLC lifted its position 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. grew its stake in Artisan Partners Asset Management by 735.9% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,212 shares of the asset manager’s stock worth $52,000 after buying an additional 1,067 shares in the last quarter. Finally, Quarry LP bought a new position in Artisan Partners Asset Management in the 2nd quarter valued at about $63,000. Institutional investors and hedge funds own 86.45% of the company’s stock.

Wall Street Analyst Weigh In

APAM has been the topic of several analyst reports. Evercore ISI increased their price target 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. TD Cowen lifted their price target on Artisan Partners Asset Management from $41.00 to $43.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. The Goldman Sachs Group dropped their price objective on 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. Finally, StockNews.com upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $44.13.

Artisan Partners Asset Management Stock Performance

NYSE:APAM opened at $41.43 on Wednesday. The company has a market capitalization of $3.33 billion, a PE ratio of 11.54 and a beta of 1.80. Artisan Partners Asset Management Inc. has a fifty-two week low of $37.89 and a fifty-two week high of $49.54. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.73 and a current ratio of 0.73. The company has a 50 day simple moving average of $46.20 and a two-hundred day simple moving average of $43.35.

Artisan Partners Asset Management (NYSE:APAM) last posted its quarterly earnings data on Tuesday, October 29th. The asset manager reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. The company had revenue of $279.60 million during the quarter, compared to analysts’ expectations of $279.70 million. Artisan Partners Asset Management had a net margin of 23.95% and a return on equity of 71.50%. Artisan Partners Asset Management’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.75 earnings per share. Research analysts anticipate that Artisan Partners Asset Management Inc. will post 3.49 earnings per share for the current year.

Artisan Partners Asset Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.82 per share. The ex-dividend date was Friday, November 15th. This represents a $3.28 annualized dividend and a dividend yield of 7.92%. Artisan Partners Asset Management’s payout ratio is 91.36%.

Artisan Partners Asset Management Company 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.