Insider Selling: Tench Coxe Sells 503,308 Shares of Artisan Partners Asset Management Stock (APAM)
Artisan Partners Asset Management (NASDAQ:APAM) Director Tench Coxe sold 503,308 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $56.44, for a total value of $28,406,703.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Artisan Partners Asset Management (NASDAQ:APAM) traded down 0.71% during mid-day trading on Wednesday, hitting $55.89. 318,675 shares of the company’s stock traded hands. Artisan Partners Asset Management has a one year low of $46.02 and a one year high of $71.86. The stock’s 50-day moving average is $54.23 and its 200-day moving average is $57.84. 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 (EPS) 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. Analysts expect that Artisan Partners Asset Management will post $3.35 EPS 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.
Several analysts have recently commented on the stock. 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 stock. The stock presently has an average rating of “Buy” and a consensus price target 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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