Vestcor Inc Buys 27,762 Shares of Artisan Partners Asset Management Inc. $APAM

Vestcor Inc increased its stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 154.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 45,733 shares of the asset manager’s stock after purchasing an additional 27,762 shares during the period. Vestcor Inc’s holdings in Artisan Partners Asset Management were worth $1,863,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Foster Dykema Cabot & Partners LLC bought a new position in shares of Artisan Partners Asset Management during the third quarter worth $27,000. Eagle Bay Advisors LLC bought a new position in shares of Artisan Partners Asset Management during the fourth quarter worth $32,000. Community Bank N.A. bought a new position in shares of Artisan Partners Asset Management during the third quarter worth $33,000. IFP Advisors Inc boosted its position in shares of Artisan Partners Asset Management by 45.8% during the third quarter. IFP Advisors Inc now owns 955 shares of the asset manager’s stock worth $41,000 after acquiring an additional 300 shares during the last quarter. Finally, Plato Investment Management Ltd bought a new position in shares of Artisan Partners Asset Management during the third quarter worth $43,000. Institutional investors own 86.45% of the company’s stock.

Artisan Partners Asset Management Price Performance

APAM stock opened at $37.16 on Monday. Artisan Partners Asset Management Inc. has a 52 week low of $34.99 and a 52 week high of $48.50. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.44. The company has a fifty day simple moving average of $37.13 and a two-hundred day simple moving average of $39.89. The firm has a market capitalization of $2.99 billion, a P/E ratio of 9.41 and a beta of 1.67.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings data on Tuesday, April 28th. The asset manager reported $0.87 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.04). Artisan Partners Asset Management had a net margin of 23.49% and a return on equity of 72.99%. The business had revenue of $303.01 million for the quarter, compared to the consensus estimate of $304.01 million. During the same quarter last year, the business earned $0.83 EPS. Artisan Partners Asset Management’s revenue for the quarter was up 9.3% compared to the same quarter last year. Analysts anticipate that Artisan Partners Asset Management Inc. will post 3.93 earnings per share for the current fiscal year.

Artisan Partners Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a dividend of $0.77 per share. The ex-dividend date was Friday, May 15th. This represents a $3.08 annualized dividend and a yield of 8.3%. Artisan Partners Asset Management’s dividend payout ratio (DPR) is 77.97%.

Analyst Upgrades and Downgrades

APAM has been the subject of a number of research reports. Zacks Research upgraded shares of Artisan Partners Asset Management from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. TD Cowen restated a “hold” rating on shares of Artisan Partners Asset Management in a research report on Thursday, April 9th. Weiss Ratings lowered shares of Artisan Partners Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 20th. Royal Bank Of Canada dropped their target price on shares of Artisan Partners Asset Management from $48.00 to $43.00 and set an “outperform” rating for the company in a research report on Thursday, April 30th. Finally, Evercore set a $37.00 target price on shares of Artisan Partners Asset Management in a research report on Friday, April 10th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Artisan Partners Asset Management has an average rating of “Hold” and a consensus target price of $39.25.

About Artisan Partners Asset Management

Artisan Partners Asset Management Inc is a global investment management firm that specializes in active, fundamental research-driven strategies across a range of equity, fixed income and alternative asset classes. Founded in 1994 by Andrew Ziegler, the company has built a reputation for its team-based approach to portfolio construction, emphasizing deep sector expertise and independent analysis. Its product lineup includes U.S. and international equity strategies, global emerging markets, as well as credit and multisector fixed income offerings.

Artisan Partners serves a diverse client base that spans institutional investors, intermediaries and high-net-worth individuals located in North America, Europe and Asia.