Elo Mutual Pension Insurance Co Sells 4,201 Shares of Artisan Partners Asset Management Inc. $APAM

Elo Mutual Pension Insurance Co trimmed its stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 23.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,487 shares of the asset manager’s stock after selling 4,201 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Artisan Partners Asset Management were worth $598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in APAM. Farther Finance Advisors LLC increased its position in Artisan Partners Asset Management by 24.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,282 shares of the asset manager’s stock valued at $57,000 after purchasing an additional 249 shares during the period. Maryland State Retirement & Pension System increased its position in shares of Artisan Partners Asset Management by 1.2% during the second quarter. Maryland State Retirement & Pension System now owns 20,698 shares of the asset manager’s stock worth $918,000 after buying an additional 251 shares during the period. Guinness Asset Management LTD increased its position in shares of Artisan Partners Asset Management by 2.4% during the second quarter. Guinness Asset Management LTD now owns 10,917 shares of the asset manager’s stock worth $484,000 after buying an additional 253 shares during the period. Salvus Wealth Management LLC raised its stake in Artisan Partners Asset Management by 5.0% during the second quarter. Salvus Wealth Management LLC now owns 5,554 shares of the asset manager’s stock worth $246,000 after buying an additional 263 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its holdings in Artisan Partners Asset Management by 1.0% in the second quarter. Yousif Capital Management LLC now owns 26,077 shares of the asset manager’s stock valued at $1,156,000 after buying an additional 265 shares during the period. 86.45% of the stock is owned by institutional investors and hedge funds.

Artisan Partners Asset Management Stock Down 0.8%

Shares of NYSE:APAM opened at $41.48 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.02. Artisan Partners Asset Management Inc. has a 52-week low of $32.75 and a 52-week high of $49.54. The business’s 50 day simple moving average is $43.32 and its two-hundred day simple moving average is $44.28. The firm has a market cap of $3.35 billion, a P/E ratio of 11.33 and a beta of 1.74.

Artisan Partners Asset Management (NYSE:APAM) last issued its earnings results on Tuesday, October 28th. The asset manager reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.05. Artisan Partners Asset Management had a return on equity of 72.15% and a net margin of 22.90%.The company had revenue of $301.29 million for the quarter, compared to analyst estimates of $300.90 million. During the same period in the prior year, the firm earned $0.92 earnings per share. Artisan Partners Asset Management’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, research analysts forecast that Artisan Partners Asset Management Inc. will post 3.6 EPS for the current fiscal year.

Artisan Partners Asset Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 8.5%. This is a positive change from Artisan Partners Asset Management’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Friday, November 14th. Artisan Partners Asset Management’s payout ratio is 96.17%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on APAM. Zacks Research raised Artisan Partners Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Artisan Partners Asset Management in a report on Monday, November 24th. TD Cowen dropped their price target on Artisan Partners Asset Management from $47.00 to $43.00 and set a “hold” rating on the stock in a research note on Monday, September 15th. Finally, Evercore ISI raised their price objective on shares of Artisan Partners Asset Management from $43.00 to $44.00 and gave the stock an “in-line” rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Artisan Partners Asset Management currently has a consensus rating of “Moderate Buy” and an average target price of $44.25.

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.