Drake & Associates LLC Reduces Stake in Artisan Partners Asset Management Inc. $APAM

Drake & Associates LLC lessened its holdings in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 30.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 41,691 shares of the asset manager’s stock after selling 18,555 shares during the period. Drake & Associates LLC’s holdings in Artisan Partners Asset Management were worth $1,699,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Foster Dykema Cabot & Partners LLC purchased a new position in Artisan Partners Asset Management in the third quarter valued at approximately $27,000. Community Bank N.A. purchased a new stake in shares of Artisan Partners Asset Management during the 3rd quarter worth approximately $33,000. Eagle Bay Advisors LLC purchased a new stake in shares of Artisan Partners Asset Management during the 4th quarter worth approximately $32,000. Triumph Capital Management boosted its holdings in shares of Artisan Partners Asset Management by 112.5% in the 4th quarter. Triumph Capital Management now owns 850 shares of the asset manager’s stock valued at $35,000 after buying an additional 450 shares in the last quarter. Finally, Garton & Associates Financial Advisors LLC acquired a new position in shares of Artisan Partners Asset Management in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 86.45% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. 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 on the stock in a research report on Thursday, April 30th. Evercore set a $39.00 price target on shares of Artisan Partners Asset Management in a research report on Monday, June 8th. Weiss Ratings downgraded shares of Artisan Partners Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 20th. Zacks Research raised Artisan Partners Asset Management from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Finally, Wall Street Zen cut Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $39.75.

Artisan Partners Asset Management Price Performance

Shares of NYSE:APAM opened at $35.90 on Friday. Artisan Partners Asset Management Inc. has a 52 week low of $34.37 and a 52 week high of $48.50. The company has a 50-day moving average price of $37.05 and a 200 day moving average price of $39.53. The company has a market cap of $2.89 billion, a P/E ratio of 9.09 and a beta of 1.67. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.44.

Artisan Partners Asset Management (NYSE:APAM) last released its earnings results on Tuesday, April 28th. The asset manager reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.04). The business had revenue of $303.01 million for the quarter, compared to analyst estimates of $304.01 million. Artisan Partners Asset Management had a return on equity of 72.99% and a net margin of 23.49%.The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 EPS. Research analysts predict that Artisan Partners Asset Management Inc. will post 3.93 earnings per share for the current year.

Artisan Partners Asset Management Dividend Announcement

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 $0.77 dividend. The ex-dividend date was Friday, May 15th. This represents a $3.08 annualized dividend and a yield of 8.6%. Artisan Partners Asset Management’s dividend payout ratio is presently 77.97%.

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.