Channing Capital Management LLC raised its holdings in Artisan Partners Asset Management Inc (NYSE:APAM) by 12.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,179,110 shares of the asset manager’s stock after buying an additional 238,100 shares during the period. Artisan Partners Asset Management accounts for about 2.5% of Channing Capital Management LLC’s portfolio, making the stock its 11th largest holding. Channing Capital Management LLC owned about 2.83% of Artisan Partners Asset Management worth $70,603,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. IFG Advisory LLC acquired a new position in shares of Artisan Partners Asset Management during the 3rd quarter worth about $207,000. We Are One Seven LLC bought a new stake in shares of Artisan Partners Asset Management during the 3rd quarter worth about $207,000. Wesbanco Bank Inc. bought a new stake in shares of Artisan Partners Asset Management during the 3rd quarter worth about $209,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Artisan Partners Asset Management during the 2nd quarter worth about $203,000. Finally, Zeke Capital Advisors LLC bought a new stake in shares of Artisan Partners Asset Management during the 3rd quarter worth about $263,000. Hedge funds and other institutional investors own 62.70% of the company’s stock.
NYSE APAM opened at $27.23 on Monday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 9.11, a price-to-earnings-growth ratio of 0.97 and a beta of 1.70. Artisan Partners Asset Management Inc has a 12-month low of $25.38 and a 12-month high of $41.45.
Artisan Partners Asset Management (NYSE:APAM) last posted its quarterly earnings data on Tuesday, October 30th. The asset manager reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.03. The firm had revenue of $212.80 million during the quarter, compared to the consensus estimate of $212.17 million. Artisan Partners Asset Management had a net margin of 11.60% and a return on equity of 199.82%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.65 EPS. On average, research analysts forecast that Artisan Partners Asset Management Inc will post 3.04 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Friday, November 16th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 8.81%. The ex-dividend date of this dividend was Thursday, November 15th. Artisan Partners Asset Management’s dividend payout ratio is currently 99.59%.
Several analysts recently commented on APAM shares. ValuEngine downgraded shares of Artisan Partners Asset Management from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 2nd. Citigroup reduced their target price on shares of Artisan Partners Asset Management from $31.00 to $27.00 and set a “hold” rating for the company in a report on Thursday, November 1st. Royal Bank of Canada set a $34.00 target price on shares of Artisan Partners Asset Management and gave the stock a “buy” rating in a report on Thursday, November 1st. Finally, Zacks Investment Research downgraded shares of Artisan Partners Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $32.80.
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About Artisan Partners Asset Management
Artisan Partners Asset Management Inc is publicly owned investment manager. It provides its services to pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. funds, as well as mutual funds, non-U.S. funds and collective trusts.
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