Quest Partners LLC Acquires 40,468 Shares of Artisan Partners Asset Management Inc. (NYSE:APAM)

Quest Partners LLC raised its position in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 210.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,735 shares of the asset manager’s stock after buying an additional 40,468 shares during the period. Quest Partners LLC owned about 0.07% of Artisan Partners Asset Management worth $2,588,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Artisan Partners Asset Management by 2.5% during 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 buying an additional 160,297 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Artisan Partners Asset Management by 4.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,617,617 shares of the asset manager’s stock worth $66,757,000 after buying an additional 74,393 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Artisan Partners Asset Management by 6.9% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,533,396 shares of the asset manager’s stock worth $66,426,000 after buying an additional 99,005 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Artisan Partners Asset Management by 22.0% during the third quarter. Victory Capital Management Inc. now owns 1,122,086 shares of the asset manager’s stock worth $48,609,000 after buying an additional 202,074 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in shares of Artisan Partners Asset Management by 8.0% during the third quarter. Raymond James & Associates now owns 453,638 shares of the asset manager’s stock worth $19,652,000 after buying an additional 33,618 shares in the last quarter. Institutional investors and hedge funds own 86.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on APAM shares. StockNews.com raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $50.00 price target on shares of Artisan Partners Asset Management in a report on Monday, July 29th. TD Cowen raised 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 report on Thursday, October 31st. The Goldman Sachs Group lowered their price target on shares of Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating for the company in a report on Thursday, October 3rd. Finally, Evercore ISI raised their price target on shares of Artisan Partners Asset Management from $40.00 to $44.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $44.13.

Artisan Partners Asset Management Price Performance

APAM opened at $46.67 on Monday. The company has a fifty day moving average price of $43.93 and a two-hundred day moving average price of $42.64. 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 Inc. has a 52 week low of $36.45 and a 52 week high of $49.52. The firm has a market capitalization of $3.75 billion, a PE ratio of 13.00 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 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The firm had revenue of $279.60 million during the quarter, compared to analyst estimates of $279.70 million. Artisan Partners Asset Management had a net margin of 23.95% and a return on equity of 71.50%. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 EPS. As a group, 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 company also recently declared 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 dividend on an annualized basis and a dividend yield of 7.03%. Artisan Partners Asset Management’s dividend payout ratio is 79.11%.

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.