Insider Selling: Tench Coxe Unloads 179,824 Shares of Artisan Partners Asset Management Stock (APAM)
Artisan Partners Asset Management (NASDAQ:APAM) Director Tench Coxe unloaded 179,824 shares of the stock on the open market in a transaction dated Monday, August 25th. The shares were sold at an average price of $56.48, for a total transaction of $10,156,459.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Artisan Partners Asset Management (NASDAQ:APAM) traded down 0.71% on Wednesday, hitting $55.89. 318,675 shares of the company’s stock traded hands. Artisan Partners Asset Management has a 1-year low of $46.02 and a 1-year 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 issued its quarterly earnings data 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 prior year, the company posted $0.64 earnings per share. The company’s quarterly revenue 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 announced a quarterly dividend, which is scheduled for Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.94%. The ex-dividend date is Wednesday, August 13th.
A number of analysts have recently weighed in on APAM shares. 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 equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Artisan Partners Asset Management 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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