Insider Selling: Artisan Partners Asset Management Director Unloads 275,625 Shares of Stock (APAM)
Artisan Partners Asset Management (NASDAQ:APAM) Director Tench Coxe unloaded 275,625 shares of Artisan Partners Asset Management stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $56.49, for a total transaction of $15,570,056.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Artisan Partners Asset Management (NASDAQ:APAM) traded down 0.71% on Wednesday, hitting $55.89. The stock had a trading volume of 318,675 shares. Artisan Partners Asset Management has a 52 week low of $46.02 and a 52 week high of $71.86. The stock has a 50-day moving average of $54.29 and a 200-day moving average of $57.82. The company’s market cap is $1.819 billion.
Artisan Partners Asset Management (NASDAQ:APAM) last posted its quarterly earnings results on Monday, July 21st. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.02. The company had revenue of $208.50 million for the quarter, compared to the consensus estimate of $211.40 million. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was up 28.7% on a year-over-year basis. On average, analysts predict that Artisan Partners Asset Management will post $3.35 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Investors of record on Friday, August 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend is Wednesday, August 13th.
A number of research firms have recently commented on APAM. Analysts at Keefe, Bruyette & Woods raised their price target on shares of Artisan Partners Asset Management from $59.00 to $61.00 in a research note on Wednesday, July 23rd. Separately, analysts at Jefferies Group cut their price target on shares of Artisan Partners Asset Management from $75.00 to $71.00 in a research note on Wednesday, July 23rd. They now have a “buy” rating on the stock. Finally, analysts at RBC Capital cut their price target on shares of Artisan Partners Asset Management from $71.00 to $69.00 in a research note on Tuesday, July 22nd. They now have an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $65.00.
Artisan Partners Asset Management Inc, is an independent investment management company that provides a range of 12 equity investment strategies spanning different market capitalization segments and investing styles in both United States and non-United States markets.
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